There is no indication yet as to whether or not it will be renamed for 2014.
“The negotiations will be completed in the next few weeks,” the team said in
a statement.
Alonso, whose relations with Ferrari
hit a rocky patch this summer after he criticised the pace of his car, set Formula
One tongues wagging on Sunday night when he sent a message to his
1.7 million Twitter followers announcing: “I have important news coming
these days… Stay tuned here on Twitter and on the Web. !!!”
An article on the driver’s official website on Monday explained the reasons
behind his decision to invest in Euskaltel Euskadi, insisting that his team
would be built on the values of “transparency and zero tolerance”,
presumably a reference to the drugs scandals which have engulfed
professional cycling in recent years.
“The new team will honour the contracts of those cyclists currently under
contract to Euskaltel Euskadi for the 2014 and 2015 seasons,” the article
said.
“The wish is to provide continuity and grow the team little by little,
incorporating top names from the cycling pack with the intent of a moderate
transition towards an international project whilst medium to long term,
there is the firm intention of becoming a global model.”
The Basque squad are taking part in the Vuelta a España, the country’s Grand
Tour, in which RadioShack-Leopard’s Chris Horner on Monday reclaimed the
leader’s red jersey after winning the 116-mile 10th stage in 4hr 30min 22sec
with a late charge on the final climb to Alto de Hazallanas.
The American, 41, who also led the Vuelta after winning stage three, broke
away from a group that included Vincenzo Nibali, Ivan Basso and Joaquim
Rodríguez with around three miles to go. Tuesday is a rest day.