Forbes have released a list detailing the top 10 richest owners in sport, led by Indian Premier League (IPL) Mumbai Indians owner Mukesh Ambani, owner of the behemoth conglomerate Reliance Industries, his share of the business empire built by his father that he split with his brother Anil.

Ambani is the ninth richest person in the world, with a net worth of US$27bn way ahead of second placed Russian billionaire Mikhail Prokhorov. As owner of the National Basketball Association’s (NBA) New Jersey Nets, Prokhorov is 32nd on Forbes’ list of the world’s wealthiest people with a net worth of $18bn

Third on the list is the only owner of an English sports club and another Russian in Chelsea owner Roman Abramovich. 53rd on the world’s rich list, Abramovich has a net worth of $13.4bn.

The first of five Americans in the top 10 is Paul Allen, Microsoft billionaire and owner of NBA’s Portland Trail Blazers. Allen is followed by the controversial prime minister of Italy and AC Milan owner Silvio Berlusconi who is the 118th-richest person on the globe  with net worth of $7.8bn.

6th to 10th list as follows; Philip Anschutz (LA Kings/$7.5bn), Micky Arison (Miami Heat/$5.9bn), Richard DeVos (Orlando Magic/$4.2bn), Charles Dolan (New York Knicks, Rangers/$3.3bn), Joe Lewis (Tottenham Hotspur/$3.2bn)

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A massive deal has been struck which will see GlaxoSmithKline (GSK) acquire the Maxinutrition Group Holdings Limited for around £162m (US$253.7m). The company, who produce protein enhanced functional nutrition products, used by a vast array of sportsmen and women, will now relinquish 100 per cent of their shares to GSK in a deal which is subject to approval from the Office of Fair Trading.

Last year’s sales from Maxinutrition, which includes flagship product Maximuscle, totalled at approximately £36m ($56.4m) for the fiscal year ending in April 2010. GSK’s reach will now branch into wider categories, complementing its existing nutritional healthcare business.

John Clarke, President Consumer Healthcare, said: “This deal will give GSK a strong presence in the fast developing protein-based sports nutrition market, appealing across a broad spectrum of consumers from elite athletes to sports participants and those seeking additional nutritional supplementation.

“GSK will invest behind Maxinutrition’s science-proven products to extend the growth of Maxinutrition within its UK and European footprint and expand to the global marketplace, where GSK has existing infrastructure and capabilities.”

With goal-line technology set to be debuted at the Club World Cup in Japan, FIFA secretary general Jerome Valcke has welcomed the introduction of the system.

The game between Sanfrecce Hiroshima and Auckland City will stage the system.

The issue of goal-line technology has veered from one extreme to the other in recent years, with FIFA unsure whether it would undermine officials rather than help them. However, world football’s governing body will try out two systems – UK-based Hawk-Eye and GoalRef, from Germany – in Japan to see if they can be implemented at a wider level.

“It’s a big day,” Valcke told FIFA’s website. “Tomorrow will be the first time that goal-line technology will be officially used in a game. The tests are done; and the instillation tests were successful.

“This is also an important day for us, because we will use one of the two systems we are using here in the FIFA Confederations Cup next year.”

He added: “This is a kind of revolution. It is the first time that this kind of technology is coming into football. It will be restricted to the goal-line specifically. The IFAB (International Football Association Board) is there to ensure the 17 laws of the game are protected.

“It was their decision, and they were clear, to say that the technology is limited to the goal-line. We must ensure that when the ball goes into the goal, the referee must get the information that the ball has gone in. The referee has the final decision.

“The technology won’t change the speed, value or spirit of the game. There is no reason to be against this technology.”

The Hawk-Eye system is the same as that used in cricket and tennis, which relies on a series of seven cameras to create a 3D picture of each goal, while GoalRef uses electro-magnetic sensors.

Valcke also said he had full confidence there would be no errors from the technology.

“It needs to be the most accurate system we can have at the moment,” he said. “There can be no mistakes with this and that is why the IFAB took two years to make sure the system was perfect.”

Recognised golfing brand Mizuno Golf UK has appointed Revolution Sports Marketing Group (Revolution) to work with the brand as it makes its first major push into the sports and consumer media sectors.

Mizuno was founded in 1906, medic and is one of the world’s most established and technologically advanced golf brands – its clubs are used by Luke Donald, denture as well as England’s Chris Wood. Revolution has been retained to work across the stable of Mizuno golf products but with a focus on its Swing DNA fitting system and the new range of MP-59 irons.

Graeme Gorrie, professional ed UK Marketing Manager, commented: “Mizuno has a long heritage in golf and its clubs are well known to those in the know, but the time is now right to expand the brand’s appeal and we are delighted to be working alongside Revolution to take Mizuno into new markets.”

Rod Kohler, PR Director at Revolution, added: “Mizuno is a premium golfing brand and everyone who plays the game should be aware of its history and outstanding range of products. We look forward to working closely with the in-house team to take the brand into the major sport and lifestyle media.”

by Ismail Uddin

Sebastian Coe has unveiled a new £8.25 million ($13.1 m) sports centre at St Mary’s University College in Twickenham which is to play host to three international teams in the build-up to London 2012.

Teams from China, Ireland and South Africa are all due to base themselves at St Mary’s before the Olympics.

With £500,000 ($796,000) of National Lottery investment from Sport England, the sports centre will further support and enhance the ever growing number of sport and health related academic programmes the University College has to offer, as well as facilitating the numerous student, staff and community activities that take place on campus, officials there claimed.

Lord Coe, London 2012 chairman, said: “Since visiting St Mary’s in April, when I was walking round what was effectively a building site, the progress that has been made here is astonishing and this really is an extraordinary facility.” 

St Mary’s has established itself as one of London’s top-performing sporting institutions, providing a comprehensive sports development programme that focuses on elite performance sport, special events, recreational opportunities, coaching and broader sports development activities.

Charles Johnston, Sport England’s Property Director, said: “This Lottery investment will ensure we build a lasting legacy beyond next year’s Olympic and Paralympic Games by giving students, staff and the local community the opportunity to enjoy and play sport in this first-class facility.”

Among the athletes who have used St Mary’s to prepare for major events are Britain’s Mo Farah, the world 5,000 metres champion.

Professor Richard Fisher, head of St Mary’s 2012 Preparations and Sport Strategy, commented: “Sport plays an important role in the student experience at the University College and the facilities are a key part of delivering this.”

“In turn, these facilities and support services attract professional athletes to train on campus, including athletes from the South African, Irish and Chinese Olympic teams who will be using St Mary’s as their 2012 Pre-Games Training Camp. They also enable the University College to provide an even better service to the local community.”

IndyCar Series have taken help from Federation Internationale de l’Automobile (FIA) in a bid to investigate the accident that led to the death of British driver Dan Wheldon in Las Vegas on Sunday.

Wheldon died after a 15-car crash at the 1.5-mile oval, which was hosting its first IndyCar event for 11 years.

As well as the FIA, the Automobile Competition Committee of the United States is involved in the probe.

IndyCar announced on Tuesday that it hopes to be able to announce its initial findings into the reasons behind the multi-car crash that occurred on the 11th lap of the race, causing several cars to become airborne.

A statement from the IndyCar series organisers, read: “The safety of our drivers, their crews, IndyCar staff, racetrack staff and spectators is always our paramount concern.

“As part of our standard safety protocol, a full investigation has been launched by IndyCar, with assistance from the Automobile Competition Committee of the United States (ACCUS) and Federation Internationale de l’Automobile (FIA), the national and international governing organisation, to determine the factors involved in this accident.

“We hope to have preliminary findings to report within the next several weeks. In the meantime, it would be inappropriate to comment further until the investigative team has had the opportunity to conclude its work.”

IndyCar has also cancelled the two-day test the Ganassi team was scheduled to run with the 2012 Dallara at Las Vegas this week, which Dario Franchitti was scheduled to take part in.

Franchitti’s wife Ashley Judd tweeted: “I appreciate @IndyCar canceling my husband’s test at Las Vegas track. The new car needs development – but not now, and never again there.”

A memorial service for Wheldon, who was 33, will be held on October 23 in downtown Indianapolis.

A lack of sponsorship and poor ticket sales have led to the cancellation of an international showjumping event scheduled to be held at the Sheffield Arena next month between 22-24 April.

The Yorkshire International Showjumping Event has been reluctantly cancelled due to facing “substantial financial losses” according to its organisers.

British Showjumping, herbal which had several national finals at the show, diagnosis revealed that it had been left in “a difficult position”.

A statement from the organisers said: “This decision has not been taken lightly but is a result of insufficient levels of sponsorship in an increasingly difficult economic climate, mind together with a general lack of support by potential visitors to the event… in terms of advance ticket sales.

“This is an incredibly sad day, but the costs of running a three-star international jumping event at a major indoor venue are significant.

“Balanced against the limited support we have received to date, we could not possibly contemplate bearing the substantial financial losses we were facing.”

Sponsors, athletes, officials and contractors who had agreed to support the event were released from their obligations to the event in order to seek alternative opportunities.

The statement continued: “There is no way we could consider running an event and not being in a position to pay everybody at the end of the day. added.

“It is generally acknowledged that there is a lack of international jumping shows within the UK, never more so than in the run-up to an event such as the London Olympics in 2012.

“We intend to pursue other options to run an international jumping show at a venue in Yorkshire at some time in the not-too-distant future.”