Paddy Power has gained full control of Australian betting company Sportsbet, after agreeing to buy the remaining shares in the company. Paddy Power will pay 132.6m Australian dollars (US$133m) for the remaining 39.2 per cent stake.

Paddy Power first bought the majority 51 per cent stake of Sportsbet in 2009 with the overall buyout set to be completed by the end of February 2011.

A further US$25.1m will be owed by Paddy Power if Sportsbet’s 2013 earnings exceed $80.35m.

Patrick Kennedy, Paddy Power’s chief executive, stated that Sportsbet was “a cracking business”.

“The team has made great strides in marrying the best of both Sportsbet and Paddy Power,” he said.

“This is a good deal to acquire the remaining shares early, which will allow us to drive development and investment and secure full participation in the upside of the business.”

The England Soccer Team’s exclusive commercial interests management company, 1966 has appointed The Sports PR Company to look after all media across its clients. The partnership will also see the company responsible for all charitable work which includes the Team England Footballers Charity (TEFC).

The England squad made a decision to donate their match fees as well as dedicate their time to partners such as the Children’s Hospices UK, WellChild and the Bobby Moore Fund for Cancer Research UK. The decision saw over £1.3m (US$2m) raised for good causes.

TEFC has also launched its own ‘Outreach Programme’ that uses football to improve opportunities for disadvantaged children and young adults across the country.

The executive producer of the Delhi Commonwealth Games opening ceremony, Ric Birch does not believe India should be allowed to bid for the 2020 Olympic Games. Birch claims that his company, Spectak Productions, is owed 15 per cent of its fees concerning the opening ceremony which the organisers have allegedly refused to pay.

Mr Birch believes that the organising committee still owe millions of dollars to foreign firms involved in the 2010 Commonwealth Games in Delhi. Spectak is just one of a number of companies still awaiting payments for the services they provided.

“Every single detail, every single word – its meaning, definition, its possible connotation – of every document and contract is being minutely examined, checked, double-checked and triple-checked to ensure that no one can be accused of a transgression,” said Birch. 

“People are scared that if they clear a bill, say, of an Australian contractor, they will be accused by the media of ‘siphoning’ money off to an Australian.

“The media have made such crazy and wild allegations that no one wants to take any chances.”

Birch believes that the longer the payments take to be made the less chance that India will have in their proposed bid to host the 2020 Olympic Games. The situation is also not helped by the severe criticism that the organising committee of the Commonwealth Games came under prior to its opening.

The Renault F1 Team today announced a new multi-year sponsorship agreement with Japan Rags, medstore the men’s clothing brand of the LTC Group.

Founded in 1998, ed the LTC Group has already built an international following with 35 dedicated stores and 1, order 000 points of sale throughout Europe. This new sponsorship of the Renault F1 Team is aimed at growing global awareness of the Japan Rags brand to consolidate and support its international
expansion.

Gil Richardière, Co-founder and CEO of Le Temps des Cerises, commented:

“Following the LTC Group’s successful growth strategy in France – 35 own-brand boutiques, a dozen major department store displays and more than 600 points of sale – and the launch of subsidiaries in Spain and Switzerland, which gave us more than 1,000 points of sale throughout Europe, we wished to give fresh impetus to the development of the LTC Group by promoting Japan Rags through exceptional media coverage alongside a prestigious partner, Renault F1 Team. This partnership will be a key part of LTC Group’s development strategy, to launch our brand in new markets and perhaps eventually to develop a network of own-brand boutiques. This new agreement will definitely strengthen the LTC Group internationally.”

Renault F1 Team Chairman Gerard Lopez added:

“We are delighted to welcome Japan Rags to our network of team partners. This is a multi-year sponsorship agreement, and we believe that the sport’s unique global footprint, allied to our team’s growing competitiveness in the coming seasons, will enable Japan Rags to exceed its objectives for this partnership. We look forward to a strong and successful relationship together.”

The Japan Rags logo will appear on the inside faces of the rear wing endplates of the Renault F1 R30, as well as at the top of the pod-vane on the leading edge of the car’s sidepods.

PGA Tour commissioner Tim Finchem is upbeat that next year’s PGA Tour schedule will remain intact despite the fact five events still without a major sponsor.

Finchem said that there was always the possibility of events being cut from the schedule if sponsors couldn’t be found, but was optimistic this wouldn’t be the case.

He said: “We have to have sponsorship to put on events, so if it got to a point where sponsorship wasn’t available, it’s always a possibility (that events will get cut).

“But candidly, we are on track with where we are in most years, good or bad economy, in terms of the amount of work we have to do either to renew sponsors or bring in new sponsors.”

Among the five events yet to have secured sponsorship are the World Golf Championships event in Miami and the tournament at Hilton Head Island in South Carolina, but Finchem said that progress was being made.

“We have conversations going on right now and we feel good about where we are headed. The market is soft generally, but for our product it continues to perform well and we don’t anticipate any need for contraction.”

Western Sydney Wanderers has confirmed today that Parramatta Stadium will host the Club’s AFC Champions League Final first leg on Saturday 25 October.

A survey to Wanderers Members showed over 70 per cent of the nearly 3000 respondents chose the Club’s home ground as the desired destination for the huge title decider.

Larger venues Olympic Park and Sydney Football Stadium ranked second and third respectively as the Wanderers Members made their intentions clear.

Western Sydney Wanderers CEO John Tsatsimas thanked the AFC for allowing the Club’s maiden AFC Champions League Final to be played at their iconic home venue.

“Getting to this stage of the tournament has been an outstanding effort, drugs not only from the playing group and coaching and support staff, anesthetist but the whole of the Wanderers Football Club,” said Tsatsimas.

“Reaching the Final of the biggest competition in Asia is an amazing achievement and playing at our home ground will give the team a huge lift as we know a packed Parramatta Stadium will give us the extra drive that our whole Club experiences every time we open the doors to Wanderland.

“While a bigger venue may have given us the ability to pack in a larger audience, the opportunity we have before us to win the ACL on our maiden attempt is one we will need every possible advantage in achieving.

“We thank the AFC for ensuring we get a real home advantage and we anticipate it will be standing room only when we take on Al Hilal later this month.”

Executive search firm Nolan Partners have been hired by the British Horseracing Authority (BHA) to find their new CEO after current chief Paul Bittar revealed he will step down in 2015. 

BHA have previously worked with Nolan Partners and were pleased with their exploits. 

A Statement on Nolan Partners website said: “We chose Nolan Partners to work with us on finding a Chairman and Chief Executive for the new Authority as we believed they brought an unparalleled ability to manage the complex stakeholder interests in helping us build the new Board. We were delighted with their approach and the results.”

BHA are searching for a new CEO after Bittar confirmed his intention to leave after three years in charge. 

Paul Bittar’s tenure as Chief Executive has been marked by an improvement in the sport’s financial position, erectile the re-establishment of BHA’s leadership role within British Racing in both regulatory and strategic matters, viagra buy and the development of closer working relationships between stakeholders across the sport.

Steve Harman, Chairman of BHA, said: “Paul has been instrumental in building the foundations for Racing’s future growth, has established stronger regulation and integrity of the sport and improved its overall health. His wisdom and knowledge of racing matters is hugely valuable and he has contributed much to the next steps of both BHA and Racing generally.”

The Circuit de Barcelona-Catalunya will play host to a round of next year’s FIA World Rallycross Championship it has been announced.

The track, purchase which is home to both the Formula One Grand Prix as well as the MotoGP Grand Prix, ampoule will stage the Barcelona RX race in September 2015.

Built in 1991 the Circuit de Barcelona-Catalunya is based in Montmelo in northern Barcelona and has been used as an F1 track for 24 years.  It was also used as a venue of the 1992 Summer Olympics.  Barcelona will become the second major city to host a round of World RX after Istanbul will stage the Championship’s inaugural city race at the Intercity Istanbul Park this October.

Martin Anayi, Managing Director at World RX for IMG Motorsport, commented: “This is extremely positive news for our Championship.  It’s a new market for us and the organisers in Barcelona have worked extremely hard to help get this project off the ground.  The team are very experienced having previously brought X Games to the city so I have no doubt that the same level of professionalism will be delivered in our Championship. Work will shortly be underway on the new rallycross track and I’m excited by the prospect of a World RX race in one of the world’s major economic and sporting hubs.”

Rob Armstrong, Global Head of Motorsport for IMG, concluded: “We are delighted to have the opportunity to work closely with the government in Barcelona to create what I expect will become a permanent fixture in the motorsport calendar. Barcelona is already a mecca for motorsport fans being home to the F1 and MotoGP races and with a population of more than 1.6 million the event in Barcelona is likely to grow into one of our biggest. This latest news also goes to show the true potential of World RX as we are beginning to witness purpose built tracks at some of the world’s most famous motorsport venues.”