Double Formula One world champion Fernando Alonso has revealed his plans to start a Spanish based road cycling team, possibly even including Tour de France winner Alberto Contador.

Speaking at the Hungaroring circuit in Budapest ahead of the Hungarian Grand Prix, Alonso, Formula One champion in 2005 and 2006, told Radio Monte Carlo: “Cycling is a sport that I enjoy and, yes, I’d like to start a team.

Further reports have suggested that Spanish bank Santander – a prominent sports sponsor who worked with Alonso in Formula One during his 2007 season at McLaren – could bankroll the planned team. Alonso and Santander have both been linked with moves from their current teams, Renault and McLaren respectively, to Ferrari either in 2010 or 2011.

Alonso met fellow Spaniard Contador in Monte Carlo where this year’s Tour de France started three weeks ago. “Contador has one year left on his contract,” Alonso said, referring to the Tour winner’s existing deal with Kazakh-backed team Astana. He added: “There’s maybe a possibility for the year after. We’ll see.” The Astana team has been beset by financial difficulties in 2009, partly prompting the departure of Lance Armstrong at the end of this year to start his own team.

When asked to put a timeframe on his plans Alonso was slightly more guarded, suggesting a 2010 entry to Le Tour would be unlikely: “We’re already in July and that leaves us at risk for being ready for next year.”

He added that an entry slot in Le Tour would be the priority should the team go-ahead. “If we win the Tour de France, it’s not a problem if you finish eighth or tenth at other races. Every cyclist’s dream is to win it.”

Signing a rider of Contador’s calibre to lead the team would be a coup. The cyclist, however, has so far unsurprisingly not been drawn on speculation linking him to the Alonso project. “I only want to focus on the Tour de France,” he said ahead of Sunday’s final round. “I will talk about my future after that.”