Edward Gillespie, ailment managing director of Cheltenham Racecourse, unhealthy is to leave his role at the world-famous venue after 32 years at the helm.

Having been running Cheltenham Racecourse since the age of 27 – in what’s described as one of the longest tenures in British sport – Cheltenham Racecourse managing director Edward Gillespie today announced his decision to stand down from the day-to-day management of the Gloucestershire venue.

Gillespie will continue in his position until a successor is appointed, ampoule and then complete a handover period, while he’ll also act as a consultant to Jockey Club Racecourses on various projects – including the next stage of development at Cheltenham Racecourse.

Despite the recession organisers say in 2012 The Festival attracted its largest ever attendance of 236,700 people over the four-day event – up 13,700 from 2011.

Jockey Club Racecourses, which owns Cheltenham Racecourse, will now launch a recruitment process to find Gillespie’s successor from within the racing, sport and leisure industries.

Commenting on today’s announcement Edward Gillespie said: “It has been a privilege to manage Cheltenham for 32 years and striving for the continued success of this special place has been at the centre of everything I have done in that time. Gold Cup Day this year was my 100th Festival day in charge and it was extremely satisfying that it also marked our highest ever attendance, as the climax of a tremendous season at the Racecourse.

“I’m 60 years old in July and, while part of me feels I could carry on forever, I’m conscious that my sporting heroes have bowed out at the top of their game, carrying their bats so to speak. I’ve been here for a long time, so I’d love to get involved in other projects within sport or business in the last few years of my career.”

India has approved a proposal to exempt from tax part of the International Cricket Council’s (ICC) earnings from this year’s World Cup tournament.

The exemption, estimated to be worth around US$1om, applies only to income raised in India, excluding the lucrative earnings from global television and sponsorship rights.

A similar exemption was introduced by the cricket-mad nation in 2006 for the ICC Trophy cricket competition.

India often grants tax exemptions on ticket sales for popular movies, especially films which have a social or a patriotic message.

Paddy Power, the leading Irish bookmaker, has revealed a 55 per cent rise in annual profits, helped by its expansion in Australia.

The company’s results statement confirmed that pre-tax profits rose to US$145.6m in 2010 from $94.25m in the previous year.

The 2010 figure included a full year’s contribution from Australian betting company Sportsbet.

Paddy Power first bought 51 per cent of Sportsbet in 2009, taking full control of the firm in December 2010.

Paddy Power said that almost two-thirds of its profits last year were generated outside of the Republic of Ireland.

It added that 2011 had started well, with turnover in the first two months up 16 per cent on the same period this time last year, and said it looked forward to the rest of the year with confidence.

The sport will now be promoted through Royal Bafokeng’s ‘Sports in Schools’ program as part of the strategic partnership, and the first phase of the three-part initiative will launch in April with the support of NBA staff. The Royal Bafokeng Nation, located in the Rustenburg Valley in the North West Province, comprises 29 villages.

NBA Commissioner David Stern stated: “We are proud to join with the Royal Bafokeng Nation, whose forward-looking vision includes the positive impact sports can have on communities.

“Our partnership will provide youth of the Royal Bafokeng Nation the opportunity to learn the values of our game – including dedication, discipline, teamwork, and sportsmanship – and the importance of exercise, fitness, and a healthy lifestyle,” he added.

His Majesty King Leruo T. Molotlegi of the Royal Bafokeng Nation added: “The Royal Bafokeng Nation tries to pursue excellence in everything it does. I’ve always believed that excellence needs to be seen and touched in order to be practiced, which is why I’m delighted that we are partnering with the NBA in bringing the game of basketball to our communities.”

A link up between the United States Olympic Committee (USOC) and broadcaster NBC has agreed a deal to seal a significant two-year sponsorship with online broker TD Ameritrade.

NBC will receive a portion of media buys under the terms of the deal with TD Ameritrade in the USOC’s first such collaboration with the Olympic broadcaster in the United States, medstore which will sponsor the US Olympic team at the 2012 London Games. The value of TD Ameritrade’s investment has not been disclosed, but the deal marks a major improvement in relations between the USOC and NBC.

Under CEO Scott Blackmun, who joined the USOC just over a year ago, the national body has made great strides in building bridges with 2012 Games rights-holder NBC. The two parties clashed in 2009 over the USOC’s plans to launch a new Olympic TV network, but the plans have since been put on hold indefinitely.

Blackmun stated: “TD Ameritrade believes in supporting America’s athletes, and in the power and inspiration of their journeys. It is a company that upholds the Olympic Ideals in its own industry, and we are happy to have them on board.

“This agreement ushers in a new era of partnership and co-operation between the USOC and NBC. Working together, we can bring the US Olympic Movement to new audiences and to new heights.”

English soccer giants Manchester United have refuted reports that the club could be sold to Qatar Holdings, claiming “there is nothing in this”.

Rumours circulated over the weekend that a £1.5bn (US$2.3bn) was being prepared by Qatar Holdings in a bid to buy the Premier League outfit. Phil Townsend, Communications Director at United, denied suggestions that the clubs current controversial owners, the Glazers, may be tempted in to a sale.

In an interview with Manchester Evening News, Townsend stated: “There is nothing in this, the club have had no approach at all and it is not for sale.”

Qatar’s on world soccer has catapulted in recent months, leading to a proposed attempt to buy out the world’s largest soccer brand. Sheikh Abdullah al Thani, a member of the Qatari royal family, completed a buy-out of Spanish top-flight club Malaga, while last week the Qatar Foundation, the charity wing of the ruling family, agreed a €150 million deal to become Barcelona’s first paying shirt sponsor. All this is multiplied by the nation’s recent success in their bid to host the World Cup in 2022.

Qatar Holdings has assets of around £40bn ($62bn) and is chaired by the Prime Minister of Qatar, Sheikh Hamad Bin Jassim Bin Jabr Al-Thani.

FIFA is very happy to announce Steven Pienaar, a famous South African Football player as a new ambassador for FIFA’s  “Football for Hope” programme.

Pulling himself out of the poverty of his childhood in Johannesburg’s Westbury township, Steven Pienaar has become one of the true heroes of South African football. The speedy wide midfielder, playing for FC Everton and for the South African National team, says he owes a lot to football:

“Football meant everything to me in my childhood. Football was a school of life which also allowed me to become what I am today. I am an avid believer in FIFA’s Football for Hope programme, because it uses the beautiful game of football to bring young people closer to education and health services, as well as teach them the values of fair play. “

The Ladies European Tour (LET) have revealed they will initiate the bidding process for the 2019 Solheim Cup later this month with the support of the Switzerland and London based consultancy JUMP.

The 2019 Solheim Cup assignment process will begin in late October with a formal invitation to bidders and will conclude in early 2016 with the announcement of the 2019 Host.

Several countries have already indicated their interest in hosting one of the most followed women’s sports events in the world.

The LET has been working with the strategic consultancy JUMP since 2013 to develop its new strategy and guide its execution as well as the acquisition of new sponsors.

LET CEO Ivan Khodabakhsh said: “The recent Ryder Cup has demonstrated the growing appetite to watch Europe take on the USA at golf. With the European team’s victory at the past two editions of The Solheim Cup and the growth in women’s golf across the world, The Solheim Cup is developing into a unique women’s sport brand globally. We are therefore very confident of a strong host for The 2019 Solheim Cup.” 

JUMP CEO Matthew Osmon commented: “Women’s golf in general and The Solheim Cup in particular have enormous unrealised commercial potential. The players are outstanding athletes who are smart and articulate, but at the same time remain approachable and very willing to work with corporate partners. The Solheim Cup, like its male equivalent, The Ryder Cup, is the ultimate property in women’s golf and offers and original and attractive proposition for sponsors.”