A few days ago, Procycling.no revealed that the Fernando Alonso had been put on hold. Now the F1 driver has confirmed that he won't have a team in 2015.

F1 driver Fernando Alonso said yesterday in Mexico that he won't have a cycling team in 2015 but that he still plans to proceed with his intentions as cycling has a lot to learn from motorsport. In early September 2013, Alonso announced that he had agreed to but the Euskaltel license but three weeks later, the deal with the double F1 world champion was broken.

“Certainly my intention and my wish over this past year was to create a professional team but a series of circumstances have taken place,” Alonso said, according to the EFE news agency. “I think I can combine the two sports – motor-racing and cycling – very well, and it’s something I want to do in the future.”

Earlier Alonso had joined forces with the Novo investment group from the United Arab Emirates, a company specialising in investment, marketing and sports management. However, they had a different vision.

"Surely they had a different view, especially now in the short term. They have other projects in cycling but not exactly the creation of a new team," he said.

Alonso who attended the Autodromo Hermanos Rodriguez in Mexico City for a publicity event with his main sponsor, said that motorsport and cycling have lots of things in common.

“There are thing in cycling that F1 is lacking, like sacrifice and teamwork, and then there are things that Formula 1 has and cycling hasn’t, above all technology – the bikes are limited by the rules and they haven’t developed the technology.”

When asked if he is a good bike rider himself, Alonso was cautious.

"I love cycling, I ride my bike every day, I train over 100 kilometres every day. But one thing is to train quietly  at an amateur level and another thing is to do it professionally. They are true athletes and I do not know if I would have been able to match them if I had had the opportunity. I am happy to be an F1 driver," he said.