Two-time world cycling champion Paolo Bettini was taken to hospital Tuesday after a three-man spill at the prestigious Sei Giorni (Six Days) track event at Rho outside Milan.
Bettini, 34, went down at a corner after a tangle with Australia's Luke Roberts and Yaroslav Popovych of Ukraine.
Race officials feared for the worst after Bettini appeared to lose consciousness.
He was put in a neck brace and rushed to hospital for tests.
''He has come round and he is talking,'' hospital sources said, adding that Bettini would be kept in overnight.
''Let's hope we get some news before tonight,'' said Sei Giorni organiser Silvio Martinelli said.
Bettini announced his retirement from road racing ahead of September's world championships where he missed out on a record third straight title.
His unfancied countryman Alessandro Ballan went on to win the September 28 race in the northern Italian city of Varese.
Bettini, nicknamed the Cricket for his compact size, jiggling riding style and propensity to attack repeatedly, has been one of Italy's top riders over the last decade.
As well as his two world crowns he won a gold medal at the 2004 Athens Olympics road race and a silver medal at the 2001 world championships.
Other trophies in Bettini's locker include the UCI Road World Cup series three times in succession, in 2002, 2003 and 2004.
He also won stages of the Tour de France, Giro d'Italia, and Tour of Spain and finished in 9th place at the 2000 Olympics in Sydney.
