Madrid

Spanish LaLiga giants Atlético de Madrid and Real Madrid will appeal to the Court of Arbitration for Sport (CAS) after failing in bids to overturn transfer bans issued by the Disciplinary Committee of football’s global governing body Fifa for breaches relating to the international transfer and registration of players under the age of 18.

Spanish LaLiga giants Real Madrid and Atletico de Madrid have slammed the transfer bans imposed on them by world football’s governing body Fifa, stating they will explore all avenues of appeal in a bid to overturn the punishments.

Spanish LaLiga football club Real Madrid has suffered a fresh blow in its efforts to redevelop the Santiago Bernabeu stadium after the city council rejected the plans, stating they were not in the public interest.

Spanish LaLiga football club Atlético Madrid has recorded a net profit of €13.1m ($14.9m) for the 2014-15 season.

Real Madrid, ranked by Forbes as the world's most valuable sports team, believes its new mobile app will generate new revenues enabling the Liga football club to maintain its financial competitive advantage as it faces years of “frozen” television income due to new rights sales regulations in Spain.

The Sony Mobile division of the Japanese electronics giant has signed up Real Madrid football star Gareth Bale as an ambassador for its Xperia Z3 smartphone series.

Real Madrid has been forced to put redevelopment plans for its Santiago Bernabeu home on hold after the High Court of Madrid overturned a previous agreement for the renovation of the Spanish Liga football club’s stadium.

Chinese conglomerate Dalian Wanda has completed its deal to acquire a 20 per cent stake in Atletico Madrid, with chairman Wang Jianlin stating the €45m ($55.8m) investment in the Spanish Liga champion bolsters the firm's efforts to build its presence in the entertainment sector.

Spanish Liga champion Atletico Madrid is set to sell a 20 per cent stake in the football club to Chinese billionaire Wang Jianlin, according to Spanish media reports.

The International Tennis Federation (ITF) has announced that the Spanish capital of Madrid will host the finals of the Junior Davis Cup and Junior Fed Cup national youth team tournaments from 2015 to 2017.

Euroleague Basketball has selected Madrid to host the 2015 edition of its showpiece Final Four series.

Real Madrid has selected a proposal from GMP Architekten and L35 as the winner of the international design competition to transform its Santiago Bernabeu home into what it claims will be the best stadium in the world.