Alonso’s “important news” is he’s buying a cycling team

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Fernando Alonso surely knew he would send the F1 rumor mill into a frenzy when he posted the following on Twitter yesterday evening:

But when the news broke on Monday morning it was nothing to do with a shock move on the driver market. Instead, he’s investing in a cycling team.

Alonso, a keen cyclist, has “reached an initial agreement” to purchase the Euskaltel Euskadi team, according to his official website.

The team was previously backed by the Basque government but lost their support earlier this year, prompting them to announce they would withdraw from competition at the end of the season. Alonso’s intervention should ensure that doesn’t happen.

According to Alonso’s website “The new team will honour the contracts of those cyclists currently under contract to Euskaltel Euskadi for the 2014 and 2015 seasons”.

Alonso’s future in F1 remains with Ferrari for the time being, who he is contracted with until 2016. However a conversation between his manager and Red Bull team principal Christian Horner prompted speculation he is angling for a move to the world champions.

In the meantime he’s happy with his latest business move. “A good day,” he remarked on Twitter, and this time there was no mistaking what he was talking about.