Fernando AlonsoMost cyclists ponder how much money they should spend on a bicycle.  They ponder what upgrades to include so they can get the most out from their rides. Most bike prices are dictated by the kind of material the bike is made of as well as the gadgets or technology that is incorporated into the bike to make it safer and more comfortable.

Formula One’s highest paid driver has recently decided to spend his bucks on pedal power instead of horsepower. According to the article,  Fernando Alonso entered into a deal to buy the Spanish Euskaltel Euskadi cycling team in its entirety.

Forbes pegged the Spanish sportsman’s income at $30 million a year, highlighting his two world cups in Formula racing for his massive income.  Spain’s cycling team recently announced their lack of funds, a call which Alonso responded to, deciding to pay for the entire teams gear.

The cycling team, Euskaltel Euskadi is owned by Basque Pro Cycling.  The team was named after Spain’s leading telecommunications company in the Basque region.  Recently, an economic downturn in Spain has caused the cycling team to lose sponsorship and face uncertainty in joining future cycling competitions.

This cycling team is reported in the past to be famous for employing riders born in the Basque region of northern Spain, as well its bright orange cycling lycra team kit which is hard to miss.  In 2012, Euskaltel Euskadi started employing riders from other regions of Spain as well as Slovenia, Morocco, Germany and Russian.

You might ask what prompted Alonso to spend part of his annual income from Formula One to buy this cycling team. In a personal remark, Alonso cited his motivation for saving the cycling team included love for his country and passion for cycling.   His love for the country ultimately proved to help him in his decision to move from Switzerland back home to Spain.  Additionally, the 32 year old Spaniard remarked he regularly cycles as part of his training regime and is not alone in his passion for cycling within F1’s fraternity.

Spain cyclist website was quoted by the article for issuing the statement, “With maximum effort and humility, and transferring the best of our professional experience, in order to be capable of starting the first races of the 2014 season with a new team, full of desire and with a fighting spirit.”

This wonderful news clearly demonstrates that cycling has become a passion for many. For this reason, Christensen & Hymas prepared informative articles to help cyclists get updated and helpful information to make cycling more enjoyable and safe. Visit our website now and learn everything about cycling!

Image courtesy of Wikimedia.