The two-time world champion is a fan of the sport and his recent visit to the Tour de France sparked rumors he is working on a project involving Spanish rider Alberto Contador and the 2010 Ferrari sponsor Santander.
Contador did not deny the reports, and Alonso has now told Radio Monte Carlo from Budapest: "Yes, I'd like to start a team."
Asked if his target would be to win the Tour de France, he answered: "Of course."
However, the 27-year-old said it is too late to have the team up and running for next year.
"We're already in July and that leaves us at risk for being ready for next year," explained Alonso.
He added: "Contador has one year left on his (Astana team) contract. There's maybe a possibility for the year after. We'll see."
07/14/09 (GMM) Spanish Tour de France rider Alberto Contador has played down but not denied reports he is set to front a professional cycling team set up next year by his countryman Fernando Alonso.
Double F1 world champion Alonso, a year older than Contador, is a keen cycling fan and his recent visit to the Tour sparked rumors he is working on a project that could be sponsored by the 2010 Ferrari sponsor Santander.
"For the moment," said the 2007 winner, who is currently second in this year's Tour de France standings, "I am concentrated on this race that goes for two more weeks and under contract with Astana.
"For the future, we will see," Contador told the French daily Sud-Ouest.
The Alonso camp, however, is vehemently denying the rumors. "No," said the Renault driver's manager Luis Garcia Abad.
"There is nothing in planning or ongoing. Nothing at all," he added.
07/13/09 (GMM) Fernando Alonso wants to set up a professional cycling team, according to Italian and Spanish reports on Monday.
Italy's La Gazzetta dello Sport, as well as the Spanish sports newspaper Marca, claim the Spanish formula one champion is keen to establish a team in time for the 2010 season.
The 27-year-old reportedly wants 2007 Tour de France winner Alberto Contador, who currently rides for the top outfit Astana, to front the Alonso team, to be backed by the 2010 Ferrari sponsor Santander.
Alonso is a cycling enthusiast, training in the recent winter period with fellow Spaniard and 2008 Tour de France winner Carlos Sastre's Cervelo team.
Alonso also watched the beginning of this year's Tour in Monaco and followed the stage in a chase car, and reportedly held talks there about his plans with Contador.