An agreement has been reached between France and Russia to spend US$2.8bn to prepare ski venues in the Caucus region, diagnosis where Sochi is located, ahead of the 2014 Winter Olympic Games. 

The deal was announced yesterday, May 26, at the G8 summit in Deauville, France with a joint statement from Nicolas Sarkozy and Dmitry Medvedev, the French and Russian presidents

It was revealed that French state-run bank Caisse des Depots Consignations will finance the project working with North Caucus Resort Co. 

However, Akhmed Bialov Russian Olympic Committee vice president was quoted by Bloomberg saying: “It will be a quasi-state company,” adding “they are ready to invest money in these projects if there are guarantees of security and force majeure.”

FIFA security chief Chris Eaton has claimed that match-fixing in soccer is worth US$90bn every year.

In an interview with Reuters Eaton revealed that the predicted value of the illegal industry matches that of legal sports betting following a move by FIFA president Sepp Blatter to pledge US$28.5m towards a dedicated anti-corruption unit based in Singapore to fight match-fixing through Interpol last week.

Eaton added: “Criminality involved in fixing football matches is global, enormous and organised. Football is too respected globally to not be protected. These are criminals taking advantage. They are not to be respected – they are not Robin Hoods – they are not good people. They hurt players and they destroy careers.”

Blatter’s presidential rival, Mohamed Bin Hammam, has claimed that the incumbent chief failed to consult the FIFA executive committee before unveiling the new venture with Interpol.

One-time Interpol officer, Eaton said: “We protect young players, we protect young referees by teaching them to resist the temptations that these people are trying to take advantage of.

“FIFA is a football management organisation. It is not an investigation organisation. We don’t conduct a lot of security operations with a little bit of football. We conduct a lot of football with a little bit of security. Prosecution is not my priority, in fact, not a priority at all.”

A multi-year sponsorship renewal has been agreed, ensuring Safety-Kleen Systems, Inc. continues as an official partner of Nascar.

The official partnership between Safety-Kleen and Nascar has lasted since 2004, providing on-site trackside support with its Nascar performance cleaning products, as well as oil recycling and re-refining services to more than 200 Nascar-sanctioned races each year.

However, the company’s involvement in the sport goes back until 1987, appearing at racetracks collecting used oil. In the last year Safety-Kleen collected and re-refined approximately 185,000 gallons of Nascar oil at tracks and team shops. Overall, Safety-Kleen services more than 145 professional race teams and 65 tracks across North America.

Eric Zimmer, executive vice president of sales and service for Safety-Kleen, stated: “We’re proud to be an official partner of Nascar and excited to help them continue their leadership role in protecting the environment and making auto racing green.”

Jim O’Connell, chief sales officer and vice president of corporate marketing for Nascar, praised Safety-Kleen for its commitment as a “Nascar partner that is doing good by helping the environment” and noted that “everyone in the Nascar community owes Safety-Kleen a debt of gratitude for helping to keep our sport green.”

According to USA Today, TNT and ESPN are on track to turn in cable TV’s most-watched NBA seasons ever.

TNT’ 27th season of NBA coverage is on track to be its highest-rated ever, beating the 1995-96 season as the top-drawing season. Marv Albert, TNT announcer, claimed that the ratings increase is due to the fact that the league “has a new villain” in the Heat.

Albert continued: “Miami is the major factor that TV ratings are sky high. And as bad as (ESPN’s) ‘The Decision’ show was … you need a team you don’t like”

TNT’s 34 game telecasts to date are up 25% and 33%, respectively, from a 1.2 U.S. rating and 1.769 million viewers at the same point last year. Ad sales for the NBA on TNT are also pacing up 30% from the same point last year.

NBA TV also continues to see ratings success, as the 14 games that have been part of the net’s Tuesday “Fan Night” are averaging 384,000 viewers. The net for 55 games season-to-date is averaging 242,000 viewers, with the net’s ad sales up 223%.

Meanwhile, NBA games on ESPN are also seeing big gains heading towards the All-Star break. Through 44 games, ESPN is averaging a 1.3 U.S. rating and 2.026 million viewers, up 18.2% and 22.3%, respectively, from a 1.1 rating and 1.657 million viewers at the same point last year.

The International Olympic Committee is looking to set up the equivalent of the World Anti-doping Agency (WADA) dedicated to eradicating illegal betting on sports.

The IOC already has a system in place that monitors sports betting and so far the Beijing and Vancouver Games have come through unscathed without any incidents.

IOC President Jacques Rogge says that it will take time to establish a viable agency and it took seven years to create WADA so he doesn’t expect a short term solution. Working with all the governments to coordinate harmonization is challenging and will take research and study.

Rogge affirmed that the IOC is going ahead with the plans and has already drafted regulations penalizing athletes, anesthetist coaches and officials involved in illegal betting.

The IOC plans to meet with government leaders in the beginning of next year to hammer out a universal policy against illegal betting along the same lines as the same model used to set up WADA.

Former Australia cricketer and captain of Indian Premier League (IPL) side Deccan Chargers, Adam Gilchrist, has said the Board of Control for Cricket in India (BCCI) has created insecurity among the league’s franchises following the expulsion of Rajasthan Royals and Kings XI Punjab.

The two teams were thrown out by the BCCI because of issues over ownership, but Gilchrist has said the decision could harm the league.

He said: “It does have an impact on the IPL, the brand and overall competition in general. No doubt it came as a surprise. I hope there is still scope for discussion between the franchisees and the BCCI. Hopefully they will stay in the competition.

“There is a need to maintain value and integrity which has so far been so successful for the venture. There have been some negatives. If people sit down there’s an opportunity for everyone – business, players and spectators – as long as none of them get greedy. Hopefully, there is still a way for a compromise.

“There will be a ripple effect. I read with interest, comments of few others franchisee owners regarding this issue. It does create a feeling of insecurity. It just needs to be well managed, well administered. There is an interest on what exactly happened.”

England and Harelquins rugby union star Nick Easter has become the latest brand ambassador for business insurance company QBE, the official partner of England Rugby.

QBE’s partnership with Easter will begin immediately and runs until December 2011.

QBE teaming up with Easter is part of the company’s continuing awareness and business development drive through its rugby sponsorships at both elite and grassroots levels.

Easter will become the face of QBE’s rugby activity and will attend important industry events.

The player had a brief stint as an investment banker before he signed for Harelquins back in 2004.

Total Sports Asia (TSA) has agreed an exclusive partnership deal with Simply Sports to distribute the viewing rights to the  World Karate Championships in Asia.

The deal will give TSA rights throughout several Asian countries and includes delivery of four hours of content in HD format. The delivery method will be live via satellite, stuff tape of file transfer protocol.

Executive vice-president of TSA media, medicine Julian Jackson, said: “TSA places great emphasis on catering to the needs of a large variety of sports fans. The World Karate Championships is the highest level of competition for the sport and only comes around once every two years, thus giving a great opportunity for broadcasters to tap into the growing combat sports segment at an opportune time.”

Managing director of Simply Sports, Javier Tola, added: “We are delighted with this partnership that could only increase the exposure and international development of the World Karate Championships, which is our main goal.”

The Championships will take place from 28 to 31 October in Belgrade, Serbia.

Nigerian President Goodluck Jonathan has reversed his decision to ban the national football team from international competition for two years after their poor performance at this summer’s FIFA World Cup.

FIFA had given the Nigerian Government a deadline of 1700 BST yesterday afternoon to lift the ban or face a larger punishment, as under FIFA rules, any government interference on member associations is strictly prohibited.

The presidency said in a statement: “The Nigerian Football Federation (NFF) assured the president of their commitment to evolving an enduring football development programme, and grow a new senior national team that will bring glory rather than consistent embarrassment to Nigeria on the World stage.

“Based on these assurances, and the appeals of well-meaning Nigerians, including former leaders, President Jonathan has decided to review the earlier two-year ban on the country from all international competition.”

On Sunday, two of the NFF’s top officials were sacked in an effort to appease the president.