A Spanish motor racing website has admitted its exclusive story about Nelson Piquet signing for the new Campos team was a hoax.

Motor21.com said earlier this week that the 24-year-old 'crashgate' conspirator had penned a three year deal, with his triple world champion father and namesake buying a 15 per cent stake in the Spanish outfit.

The news was published on December 28, the Spanish holiday known as 'Day of the Innocents', which is similar to April Fools' Day.

Motor21.com confirmed that the Piquet story was indeed a "celebration" of the holiday.