Samuel Sanchez can finally sign a contract with another team after reaching an agreement with Euskaltel to dissolve the contract that made him an Euskaltel rider until the end of the 2015 season. The Spaniard still hasn't signed a contract for 2014 but is reported to have four possibilities: Astana, Omega Pharma-Quick Step, Colombia or retirement.

It is testament to the tough nature of the transfer market that some of the sport's biggest names still haven't found a new team for the coming season. The current Vuelta champion Chris Horner has admitted that he has to reduce his wage demands significantly to continue his career while former Olympic champion Samuel Sanchez has been the high-profile victim of the collapse of Euskaltel.

However, things may now improve for the Spaniard who has been restricted in the search for a new team by the fact that he has an existing contract with Euskaltel until the end of the 2015 season. Earlier this year, Colombia who had shown interest in signing him, said that they could not take any action as long as his contract had not been dissolved.

The parties have now finally reached an agreement to end the contract two years earlier than planned. This means that Sanchez is now free to sign a contract with another team.

"I've reached a financial settlement with Euskaltel to break the contract," he told Marca. "My association with the team is over. It ended well for both parties. The negotiations have taken a long time but we have finally found a solution."

In a recent interview, Sanchez said that he still hasn't signed anything for the coming season but he still hasn't given up hope of continuing his career and is training hard to get ready for the new season. He was previously linked with the new Sky Dive Dubai continental team after visiting Dubai and speaking with the men behind the new project.

This week he has been back in the Arab city but stresses that he will not ride for the continental team in the coming season. He was only there to train in good weather conditions.

"I trained on the incredible new circuit which has almost only 70 kilometres of roads that are reserved for cyclists. There is no room for cars or anything like that. At the midpoint, there are shops and all kinds of places to eat, drink and fix a puncture.

"I have no deal with the leaders of cycling in the Emirates," he added. "I've got a friend there and when the weather at home got very bad, I went back to do some training in nice weather and on nice roads.

"It's too early to go there [to Sky Dive Dubai]," he said. "My idea is to keep riding my bike but if my contacts with the federation give me the chance to do something, I would not mind going there to lend a hand. But it must be something for the future and hopefully not the near future."

A few weeks ago, it was reported that Sanchez had signed a contract with a ProTeam, with the official announcement said to come in January. However, Sanchez' new claims suggest that this is not the case.

Marca reports that three teams have shown interest in signing him: Astana, Omega Pharma-Quick Step and Colombia. Astana has already finalized its roster but may be tempted to sign another rider after the unexpected loss of Franco Pellizotti. Omega Pharma-Quick Step has already the maximum 30 riders on its roster but may get an extra spot if Kevin De Weert is unable to continue his career after crashing in the Vuelta a Espana.

The fourth possibility is said to be an early retirement and Sanchez admits that it remains an option.

"I know it's an option, but at the moment, I don't think about anything else than continuing at the highest level."