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SBD Global/September 27, 2013/Franchises

Cycling Team Euskaltel-Euskadi Denies Alleged Demands Made In Failed Sale Of Club

Spanish cycling team Euskaltel-Euskadi denied that "it imposed or demanded any conditions that would justify or excuse the failure" of the team's agreement with F1 Ferrari driver Fernando Alonso, who had attempted to acquire the team, according to MARCA. The Euskaltel team said it was false that "the team presented an obstacle to reaching agreement." Euskaltel released a statement against what the team considered "continued false information coming from the media" regarding the failed negotiations in the sale of the club to Alonso and his representatives. In the statement, "Euskaltel denied trying to complicate the negotiations in search of benefits." Euskaltel: "The causes of the failure of the negotiation were the disagreements about the different fiscal repercussions of the contracts." The statement added that "Euskaltel approached the negotiations without any type of economic restrictions or other demands, with the only goal being an agreement" (MARCA, 9/26).
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