Race to Dubai suffers prize money crisis

The European Tour looks set to suffer a major body blow this week when it announces a reduction in prize money for this year’s flagship $20 million Race to Dubai and Dubai World Championships. A golf insider from the region has told CNN that the impact of the credit crunch on Leisurecorp, the company behind the concept, and the fact the Dubai World Championship has not attracted the handful of marquee sponsors hoped for, has led to a decision to reduce the payout for one of golf’s most lucrative competitions. The running of Leisurecorp’s day-to-day business now falls under the control of Dubai real estate developer Nakheel

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F1: Massa vows to return as he leaves hospital

Felipe Massa vowed to return to Formula One "as soon as possible" as he left hospital in Hungary to fly home to Brazil after his horror crash last weekend. Massa suffered “life threatening” injuries as his Ferrari careered off in final qualifying for the Hungarian Grand Prix at 200kph and slammed into a tire barrier. He spent two days in an induced coma after emergency surgery for a fractured skull and brain concussion and there were fears he would not be able to drive again

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‘Relieved’ Schumacher visits Massa in hospital

Formula One legend Michael Schumacher has admitted his relief after visiting stricken Ferrari driver Felipe Massa in hospital. The seven-time world champion has agreed to come out of retirement to replace Massa in the short term following the Brazilian’s freak accident in Hungary which left him fighting for his life. The 40-year-old had not previously had the time to visit Massa, last year’s world championship runner-up, as he has been undergoing medical tests and getting up to speed for his eagerly-anticipated racing return by practicing in a 2007 Ferrari

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Motorsport: Recovering Massa to return home

Felipe Massa is to return home to Brazil on Monday just nine days after fracturing his skull in a freak accident at the Hungarian Grand Prix. Massa is continuing to make a good recovery after having emergency surgery for life-threatening injuries he sustained in the horror crash last Saturday.

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Ibrahimovic and Eto’o complete transfers

Swedish striker Zlatan Ibrahimovic has completed his 46 million euros ($65m) transfer to Barcelona from Inter Milan on a five-year contract, with Samuel Eto’o and Alexander Hleb moving to the San Siro as part of the deal. Ibrahimovic completed his medical on Monday and the deal was finalized despite scans showing the striker has a fractured bone in his left hand

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EU suspends aid budgeted for Honduras

Pressure for a resolution to a political standoff in Honduras has increased after the breakdown of talks between the two sides over the weekend. The European Union on Monday suspended aid to the Central American country, which has found itself increasingly isolated since the June 28 military-led coup that ousted President Jose Manuel Zelaya. Representatives of Zelaya over the weekend failed to reach an accord with representatives from the interim Honduran government of Roberto Micheletti, who was named by congress hours after the military detained Zelaya and sent him to Costa Rica.

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Iceland applies to join European Union

Financial crisis-stricken Iceland formally applied for European Union membership on Friday, a day after lawmakers narrowly backed a government plan to take the island nation into the economic and political bloc. A copy of the application was submitted to the Swedish government, which currently holds the EU’s rotating presidency, Iceland’s Ministry for Foreign Affairs confirmed in a statement

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