Clubs relegated from the Premier League will receive £48m in parachute payments over four years after Football League chairmen today voted in favour of the proposal.

Source: Guardian.co.uk

Ferrari have been fined £13,500 after Fernando Alonso almost crashed into Nico Rosberg in the pit lane during qualifying for the Spanish Grand Prix. The incident took place early in the final 10-minute qualifying session.

Source: bbc.co.uk

The parlous financial position at Liverpool was underlined today when accounts were released showing the club £350m in debt. The figures covered the year to 30 July 2009, so included Liverpool's relative success last season, yet still the club recorded the biggest loss in its history, £55m, having paid £40m in interest on its loans.

Source: Guardian.co.uk

Giles Clarke, the chairman of the England and Wales Cricket Board, is facing possible legal action from sports marketing giant IMG over allegations that an unofficial Twenty20 league was being planned in England.

Source: Telegraph.co.uk