Fernando Alonso's bid to take over a top professional cycling team has collapsed.
Early this month, the Ferrari driver announced advanced negotiations to buy the world tour license of the struggling Spanish team Euskaltel-Euskadi.
But late on Monday, Alonso - a keen amateur cyclist - confirmed that the talks have broken down.
"We've tried it until the end but it's just been impossible to have a cycling team in 2014," he confirmed in a photo statement posted on Twitter.
However, the double world champion said he remains committed to setting up a cycling team, "if need be from scratch", for 2015.
"My passion for this sport, my will to cooperate and do my bit remains...
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