Administrators have taken hold of the Caterham F1 Team which may allow the outfit to participate until the end of the season. 

After a number of statements and responses between buyers Evangest SA and owner Tony Fernandes, Caterham’s factory was closed on Thursday as administrators sought an agreement with 1 Malaysia Racing Team. 

In a statement from the team on Friday, it was announced that a meeting on Thursday night had resulted in the administrator taking control of the team’s management in the hope it can then continue to race in Austin, Brazil and Abu Dhabi. 

“Following a request of yesterday evening at 21.55hrs CET from Caterham Sports Limited’s administrators and the legal advisors of Mr Tony Fernandes’ related EXIM Bank, representatives of 1MRT/Caterham F1 Team have agreed, with all rights reserved, to hand-over management of the Caterham F1 Team to the administrator Mr Finbarr O’Connell in the higher interest of allowing the team to continue operating and preparing for the next events,” the statement read. 

Evangest has claimed it had paid for the team but Fernandes had failed to deliver shares, making him the current legal owner. However, Fernandes claims the buyer has not met all of the obligations agreed at the time of sale in June.

NBA China has agreed a partnership with the Ministry of Education of China to incorporate a fitness and basketball development curriculum in elementary, middle and high schools across China.

This unprecedented partnership is the NBA’s first-ever collaboration with China’s education authority and the Ministry of Education’s first partnership with an American professional sports league.

China’s Vice Premier Liu Yandong, Vice Minister of Education Hao Ping and Minister of Sport Liu Peng, along with NBA Commissioner Adam Silver, NBA Deputy Commissioner Mark Tatum and NBA China CEO David Shoemaker announced the partnership during a signing ceremony at the MasterCard Center in Beijing.

The groundbreaking partnership will focus on basketball participation in elementary, middle and high schools across China and aims to provide enhanced basketball training to at least 3 million students by 2017.

“The Chinese government attaches great importance to sports education. We highly appreciate the NBA’s efforts to promote basketball and improve the basketball education in Chinese schools,” said Hao Ping. “I am fully convinced that with the joint efforts of the NBA and China’s Ministry of Education, great success will be achieved in the cooperation of basketball education between the two sides, which will surely contribute to the development of China’s basketball education and China-U.S. people-to-people exchange.”

“Under the guidance and expertise of China’s Vice Premier Liu Yandong and the Ministry of Education, we look forward to reaching millions of Chinese students through our joint fitness and basketball development curriculum,” said Silver. “This partnership complements our long-standing commitment with the Chinese Basketball Association to grow the game in China.”

As part of the curriculum, NBA players, legends and coaches will visit Chinese schools to conduct basketball clinics and provide specialized instruction to Chinese coaches and physical education teachers. Chinese coaches and physical education teachers selected by the Ministry of Education will also have the chance to observe and participate in coaching activities organized by the NBA.

The NBA will conduct the partnership through NBA China and will support the Ministry of Education in operating China’s elementary, middle and high school basketball leagues.

The partnership with the Ministry of Education builds on the NBA’s basketball and youth development efforts in China. In February 2014, NBA China and Yao Ming launched the first ever after-school basketball program in Beijing, providing basketball training and fitness programs for boys and girls at all skill levels, while also teaching the importance of teamwork, leadership and communication in a fun basketball environment. 

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Organisers of the Australian Open have increased prize money for the men’s and women’s winners by 10 per cent, with each winner to pocket $3 million as the tournament champion next January.

The overall prize money is $36.3 million and Tennis Australia will outline how the money will be broken down in the next few weeks.

Organisers also launched the newly renovated Margaret Court Arena, which will provide a third covered show court after Rod Laver Arena’s centre court and the Hisense Arena.

The newly-redeveloped Margaret Court Arena, complete with the facility’s third retractable roof, will be ticketed for the first time, at $60 for each day and night session for the first eight days.

Organisers have also acquired former world number one and the 2009 champion Rafa Nadal as an ambassador.

The Spaniard will work with Tennis Australia to hold a charity event on Jan. 14 at Margaret Court Arena in the leadup to the tournament.

“I like to think I’ve always been friendly with the Australian Open, but I’m excited it is now official,” Nadal said in a Tennis Australia media release.

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Detroit Lions defensive lineman Ndamukong Suh has joined the Roc Nation Sports roster.

He joins fellow NFL players Geno Smith and Hakeem Nicks who are represented by rapper Jay Z’s company.

Suh joins Roc Nation after he announced his departure from Relativity Sports in January, acknowledging that he was in search of new representation.

In a statement on their website Roc Nation Sports said: “Roc Nation Sports welcomes NFL defensive tackle and 3x All-Pro Ndamukong Suh to the roster.”

Donington Park has been elected by the Circuit of Wales and Dorna Sports as the alternative venue for the British Motorcycle Grand Prix for the 2015 event. 

Whilst the Circuit of Wales is scheduled to host the British Motorcycle Grand Prix until 2024 after agreeing a five-year contract with the option for further five year extension with the Championship’s commercial rights holders, it has been decided that the series would return to the Leicestershire venue next year, before moving to the new Circuit of Wales in 2016.

“After announcing the long-term MotoGP agreement between Dorna and the Circuit of Wales three weeks ago our priority has been to agree the venue for 2015,” explained Chris Herring of the Circuit of Wales. Herring added: “It is in the interests of everyone, especially the fans, to make a decision as soon as possible and in Donington Park we have a venue that shares our vision for growing MotoGP in the UK.”

Dorna CEO Carmelo Ezpeleta commented: “The Circuit of Wales has worked very quickly to secure the best deal for the British race fans and we believe Donington Park will deliver a fantastic race in 2015. “Ezpeleta continued, “Donington Park has a long history and has been the scene of some of the most exciting MotoGP races in recent years and we are sure that the extensive works undertaken since it reopened four years ago will guarantee a successful event.”

The date for the 2015 British FIM MotoGP World Championship round is expected to be announced later this month.

Donington Park had previously been the home of MotoGP for 23 years, hosting it from 1987 to 2009.

The Dallas Cowboys have remained the most valuable National Football League (NFL) team for the eighth consecutive season.

Despite the team not making the playoffs since 2009, the team’s value has risen by 36 percent over last year to lead the Forbes NFL Team Values list, which was released Wednesday, at $3.2 billion.

The Cowboys are atop the magazine’s rankings by a healthy margin for an eighth consecutive season, having risen in value by $900 million to become the only NFL team worth more than $3 billion.

Despite last having won a championship in 1996, the Cowboys are second in value only to Real Madrid ($3.4 billion) among all global sports franchises.

The Cowboys also have the NFL’s highest revenue ($560 million) and operating income ($246 million), and this season become the first NFL team to have partnerships with a worldwide luxury watch and cruise line.

The New England Patriots ($2.6 billion), the Washington Redskins ($2.4 billion), the New York Giants ($2.1 billion) and the Houston Texans($1.85 billion) round out the top five. 

Forbes says the average NFL franchise is now worth an all-time high of $1.43 billion, which is 23 percent more than a year ago and is the biggest year-over-year increase since 1999.

It is more than the mean valuation of the world’s top 20 soccer teams ($1.05 billion), MLB teams ($811 million) and NBA teams ($634 million).

Other teams in the top 10 include the New York Jets (No. 6, $1.8 billion), Chicago Bears (No. 8, $1.7 billion), San Francisco 49ers (No. 9, $1.6 billion) and the Baltimore Ravens (No. 10, $1.5 billion).