FI driver Fernando Alonso has taken over the Euskatel cycling team.
The Basque team were in danger of folding after their main sponsor which was the Basque local government pulled out due to the financial crisis in the country and Alonso and his backers have come in, paying a reported six million euros for the World Tour licence.
The team will now be run from the Asturias region, where Alonso, who presented the awards at the Prologue of the 2009 Tour De France in Monaco, hails from and his team will focus on regional riders as well as the likes of stars such as Samuel Sanchez, Igor Antón and Mikel Nieve.
In a press statement, Alonso, who stated his wish to buy a team as long ago as 2010, confirmed that the riders who have contracts with the squad’s owners, Basque Pro Cycling Team, for 2014 and 2015 will be honoured