Fernando Alonso's plans to purchase the Euskaltel Euskadi cycling team have fallen through after he failed to reach an agreement with the current owner.The Ferrari driver had announced earlier this month that he had agreed to purchase the Basque Pro Cycling Team (BCPT) company that owns the license to the...

Fernando Alonso is to become a team owner in international cycling after agreeing to purchase the company that owns the Euskaltel Euskadi team.The Spanish cycling squad had been set for closure after its main sponsor the Basque telecommunications company Euskaltel said it was pulling out of the sport because co-sponsors...