Formula One driver Fernando Alonso has saved the Euskaltel-Euskadi cycling team from folding after buying the cash-strapped Spanish squad for €6m.The team had been due to cease operations at the end of the season after almost 20 years in top-tier cycling following the withdrawal of financial backing from public institutions in the Basque country, where it is based.
However, long-time cycling fan Alonso has stepped in to rescue the squad by taking over ownership of its WorldTour licence.
The 32-year-old two-time F1 world champion is now set to rebuild the squad and relocate it to the Asturias region of north-western Spain.
More to follow Share: 0 0 var commentsAllowPost = 1
Full Story »