Alonso was at stage 18 of the Giro d'Italia yesterday and drove round the 171 kilometre stage after being in the Ferrari F1 simulator earlier this week.
At the end of the stage Alonso presented Nairo Quintana with the pink jersey.
It is well known that the Spanish Formula One driver is a passionate cycling fan and amateur rider and last year tried to take over Spanish team Euskaltel-Euskadi but his bid failed.
The 32 year old decided to create his own cycling team from scratch instead and is hoping the team will be competing with the best squads in cycling from 2015.
Alonso's team is registered with the UCI as 'FACT' (Fernando Alonso Cycling Team) and he believes it will take time but the team will be set up.
According to In Auto News, Alonso said: “We’re working on it. That’s our aim and what we’re hoping for.
“As you know there are some rules to respect, some timing to respect, and we’re working in the background to do everything else to respect the right steps.
“We are working in a professional manner and a respectful manner as well because we are entering a world that is not our world so we need to learn many things.
“We will do it step by step. There is not any hurry because we want to do it in a good way.”
It has been said recently that Alonso's plans may not being going as well as he makes out after reports claimed his team failed to sign sprinting sensation Peter Sagan, and talks with a title sponsor from the United Arab Emirates and the UCI for a deal worth $200 million a year may have fallen through.
If Alonso is going to set his team up within the next year or so he will have to work quickly because if he wants to sign new riders the perfect time would be when the season finishes at that is not too far away. Otherwise they will either sign new contracts with their current clubs or join new ones.
Alberto Contador has been linked with joining FACT as he is very good friends with the F1 driver and it has to be said that this would be an excellent signing for Alonso, but it is probably unlikely he will sign as he is the leader of Tinkoff-Saxo.
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