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Leeds confirms Elland Road sale

Coca-Cola Championship strugglers Leeds United has confirmed reports that its Elland Road ground has been sold to new owners for the second time in two years.

The club stated that Elland Road, sold by the financially stricken club's previous board in November 2004 to Manchester businessman Jacob Adler, had been sold on again to Teak Trading Corporation, a company based in the British Virgin Islands.

Scotland reviews 2015 World Cup bid

Event Scotland, the government funded organisation aimed at attracting events to Scotland, is to conduct a feasibility study to determine whether the country could viably bid to host rugby union’s 2015 World Cup.

The survey is being conducted with a view to Scotland and one or more other home unions potentially bidding jointly to host the 2015 tournament. Japan has already expressed its desire to apply to stage the event.

Local businesses lose 2012 fight

The remaining businesses operating on the 2012 Olympic Park site in East London will be forced to move after the Olympic organising committee LOCOG won a legal battle allowing it to purchase the land.

LOCOG had already negotiated the use of 93% of the land needed for the 2012 Games  but the Compulsory Purchase Orders (CPOs), confirmed by Industry Secretary Alistair Darling, will ensure that the remaining businesses will be forced out.

The businesses affected by the latest move have been opposed to plans as they believe they warrant better compensation agreements.

London to host Race of Champions

The Race of Champions – motor racing’s celebratory event which pits title holders from a range of series against each other – is to be staged in London next year.

The 2007 event, taking place next December will be moved to Wembley Stadium from the Stade de France in Paris.

Paris has hosted the popular Race of Champions for the past three years, drawing crowds of more than 51,000.

Multiplex facing shareholder legal action

Multiplex, the Australian developer of the new Wembley Stadium, is facing a class action lawsuit by its shareholders.

Law firm Maurice Blackburn Cashman has reportedly lodged a £40m class action on behalf of Multiplex shareholders.

The firm claims Multiplex failed to keep shareholders fully informed about problems it was having with Wembley which ran into numerous construction delays.

Multiplex announced the project was making a loss in May 2005 but reports claim that the firm was behind schedule and incurred cost overruns by August 2004.

Cunnah quits as Wembley chief

The chaos that has surrounded the building of the new Wembley Stadium has finally proved too much for the project’s chief executive Michael Cunnah who has resigned with immediate effect.

Cunnah, who has been chief executive of Wembley National Stadium Limited for the past four years, has overseen one of the most turbulent projects in sporting history as the construction of the new arena was consistently hampered by a spiralling budget, building delays and a major court case with Multiplex – the firm hired to build the stadium.

LTA and Queen's settle ownership row

The Lawn Tennis Association and the members of The Queen's Club have settled out-of-court their legal action over ownership of the club, with the former agreeing to sell the lease of the venue to the members for £35 million.

The settlement of the sale of the 120-year lease of the club to members for £35 million is £10 million less than the original price agreed earlier in the year. 

The transaction is due to be completed by the end of May 2007.

Qatar to bid for 2016 Olympics

The Middle East’s emphasis on sport is growing after Qatar announced that it will bid to host the 2016 Olympic Games.

The Gulf state, which has spent £1.3bn creating a sports city and is hosting the Asian Games this month, has stated that it will put its hat into the ring for 2016 and will continue to bid for Olympics until it is successful.

Sheikh Saoud bin Abdul Rahman Al-Thani, secretary general of Qatar's National Olympic Committee, said: ‘Qatar is 100% committed to this cause. I'm confident we will win 2016 but, if not, we will bid until we succeed.’

Everton confirms new stadium talks

Everton FC has confirmed that it has entered into talks about moving to a new stadium outside of the centre of Liverpool in nearby Knowsley.

Shareholders were informed of the decision at the club’s AGM despite widespread fan disapproval of the plans.

Club chairman Bill Kenwright said: ‘I do not want to be the guy who moves Everton away from Goodison Park, but it is not a financial option to remain here. I have also been told by the council it is absolutely impossible to extend the footprint of the club.

Nations scramble to win 2009 RWC Sevens

The IRB has received a record number of expressions of interest from countries looking to host the Rugby World Cup Sevens tournament in 2009, highlighting the growing popularity of the format.

IRB member unions Arabian Gulf, Australia, Netherlands, Russia and USA all submitted detailed tender documents by last week’s deadline outlining their bid to host the tournament.

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