"Fabulous news"

Fundación Euskadi president and returning general manager at Euskaltel, Miguel Madariaga, was a relieved man upon hearing of the team's main sponsor's intent of renewing their sponsorship beyond 2012. Talking to www.biciciclismo.com, the founding father of the team expressed his delight.

"(Euskaltel president) Alberto García Erauzkin' comments are fabulous news for Basque cycling and all Basque cyclists. It was a public acknowledgement of the fact that the Fundación, which is responsible for the team and it's licence, has been important for Euskaltel. I'm obviously pleased with that".

As he's spoken of in the past though, he reiterated that the team might be wholly owned by the sponsor in the future.

"(To keep the team going) they need to invest heavily, and we (the Fundación) can't do that. The Fundación Euskadi might not be a part of the team. As Euskaltel's president said: they'll aim to adapt to the demands of the WorldTour. The foundation can't do the same. We'll continue our work at grassroots level - it's important and it's where we're headed."