“Regarding the Olympics, it is practically impossible because the question is not whether I have recovered but if I can participate in top condition,” Contador said according to AFP.
“At first glance it looks like that will not be possible.”
At 33, the Rio Games would have likely been the Spaniard's last chance at an Olympic medal, having only competed at one edition of the Olympics in Beijing in 2008 in the road race, and taking fourth place in the individual time trial.
A seven-time Grand Tour winner, Contador is likely to focus on a comeback at the Vuelta a España in late August, with the aim of taking a fourth title in his home race.
After pushing the idea of retirement in late 2015 after this season, Contador looks certain to ride on, with a confirmed deal with Trek-Segafredo imminent.
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