MUMBAI – Cricket legend Sachin Tendulkar has been named a United Nations Environment Programme Goodwill Ambassador.

The appointment, made by UNEP Executive Director Mr. Achim Steiner in Mumbai, allows one of the world’s greatest cricketers the opportunity to use his legendary popularity to raise public awareness and harness support for environmental action in India and the world.

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MUMBAI (India PRwire) – Reliance Industries Limited (RIL) and IMG, the world’s leading sports marketing and management company, announced an equal joint venture to develop, market and manage sports and entertainment in India. The venture, IMG Reliance Pvt. Ltd., will have parallel complementary strategies: to provide and operate world class infrastructure and coaching facilities in the country to unlock India’s sporting potential and; to create and operate major sports and entertainment assets in the country.

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CHENNAI -Mahindra Holidays & Resorts India Limited (MHRIL), India’s leading leisure hospitality provider, announced its commitment to sponsor India’s budding tennis star – Yuki Bhambri. As per the arrangement, MHRIL will sponsor Yuki for a period of five years.

Mr. Ramesh Ramanathan, Managing Director, MHRIL, said, “Our brand experiences and Holiday services revolve around delighting the family. To the world Yuki is World’s No. 1 Junior player; to us he represents the children in families who are one of the biggest beneficiaries of the holiday experiences that we create. We believe that he has the potential to dominate the Pro circuit, too. We are proud to be the first Indian corporate to have come forward to sponsor him in his journey forward.”

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LONDON (Reuters) – The World Cup is to become a biennial event and after a break this year the team competition will return in 2011 with a record purse of $7.5 million.

The World Cup, which has been held annually since 1953 apart from two occasions in the 1980s, will next year boast one of the richest prize funds in golf when it is held at the Mission Hills Resort on Hainan Island in southern China from Nov. 24-27.

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SYDNEY (Reuters) – Queensland’s state government will contribute A$11 million ($10.08 million) to the bid to bring the 2018 Commonwealth Games to the Gold Coast, local media reported on Monday. The Gold Coast, about 75 kilometres south of Brisbane, was nominated as the region to bid for the Games in 2008.

“The Games bid is formally made by the Australian Commonwealth Games Association and we will be working in partnership with the Association to launch that bid now into the international arena,” Queensland Premier Anna Bligh told the ABC.

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LONDON (Reuters) – English soccer clubs must be prepared for salary capping, former Football League chairman Brian Mawhinney warned on Monday.

The 60-year-old, who was succeeded after seven years by businessman Greg Clarke on Friday, believes that the current financial model at league clubs outside of the Premier League is not sustainable.

“The business model of professional football in this country doesn’t work, it’s broke and you see that reflected in the administrations and all the rest of it,” Mawhinney said.

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MANAMA (Reuters) – Richard Branson declared the successful birth of his Virgin Formula One team on Saturday after they were first of the newcomers in qualifying for the season-opening Bahrain Grand Prix.

Germany’s Timo Glock will start 19th of the 24 drivers, immediately ahead of the two Lotus cars.

The British billionaire, who last year sponsored the title-winning Brawn team, said it would take time for Virgin to catch up with the established teams but he was satisfied with the situation so far.

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After expressing his support for the inaugural Soccerex Asian Forum (28-29 July, Singapore), Soccerex are delighted to confirm that the President of the Asian Football Confederation (AFC) will speak at the eagerly anticipated event.

Mohamed bin Hammam (President, AFC), has commented that he is “delighted to welcome Soccerex and the Asian Forum. This is an event we cannot miss because the Forum is now an integral part of football. The AFC gives its full support to this event, and I personally look forward to being part of the Forum.”

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MUMBAI – HDFC Standard Life Insurance have extended their sponsorship for IPL 3 with The Indian Premier League (IPL) Team Rajasthan Royal. HDFC Standard Life Insurance  have come on as Associate Sponsors of the team.

The deal is said to be valued at just over $1 million (Rs 4.8 crores).

As part of the rights they have been given the right to give away the Most Valuable Player prize who will receive $1000 in cash and a certificate. In addition, they also plan on workshops with the younger players.

Rajasthan Royal play thier first home match on 15 March in Ahmedabad against Delhi Daredevils.

Image: Siphiwe Sibeko / Reuters

NEW YORK (Reuters) – Diversified consumer products company Fortune Brands Inc said it was selling its Cobra brand of golf equipment to German sportswear maker Puma AG to focus on its existing golf brands but said the deal would lower its 2010 earnings slightly.

Fortune Brands, which also sells spirits such as Jim Beam and Canadian Club whiskey, said the sale would include the brand, inventory, intellectual property and endorsement contracts, and that all staff dedicated to Cobra will become Puma employees after the deal closes.

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