Max Biaggi will not be racing for Team Alstare in the World Superbike series in 2008.

Alstare has not renewed the 36-year-old Italian’s contract, the team said yesterday in a statement on their Web site.

“Suzuki and Team Alstare would like to thank Max Biaggi for his great performances and results achieved during the 2007 season, and also for his technical contribution,”the note on the Team Alstare website read.

Biaggi finished in third in his first season in World Superbikes two weeks ago, behind champion James Toseland of Honda and Noriyuki Haga of Yamaha.

Biaggi, a four-time 250cc Motorbike champ, is reportedly considering a return to MotoGP with Team Honda Gresini.