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    Unemployment recently hit a 15-year high in the UK, inflation is hovering around 5 percent and economic growth is barely advancing, leaving many to wonder whether hosting an expensive event like the 2012 Olympic Games with taxpayers’ money will bring benefits for a nation already tightening its belt.

  • A detailed view of the prototype design of the new golden Olympic torch during its unveiling at St Pancras Station on June 8, 2011 in London, England. 8,000 torchbearers will carry the Olympic Flame around the UK during the 70-day relay, which starts at Land's End in Cornwall on May 19, 2012.

    Between May 18 and July 27, the Olympic Flame will come to within just 10 miles of 95 percent of the population of the UK, visiting iconic landmarks including Loch Ness and Stonehenge and…Walford, the fictional London borough home to Eastenders, one of Britain’s most popular soap operas.

  • The list of athletes who lost huge sums of money after their playing days ended is long. Evander Holyfield may have been fearsome in the ring, but that didn’t stop him from nearly losing his house in 2008. Jose Canseco was a force to be reckoned with when he played baseball in the major league, but after his steroid use was made public the money dried up and he had to resort to reality TV gigs to keep the bills paid.For many athletes who lose their former earning power, it’s not just the paychec

    Many athletes who lost their earning power couldn’t keep up with their mortgage payments and were faced with foreclosure. Click to see the list of athletes with foreclosed homes.

  • A detailed view of the prototype design of the new golden Olympic torch during its unveiling at St Pancras Station on June 8, 2011 in London, England. 8,000 torchbearers will carry the Olympic Flame around the UK during the 70-day relay, which starts at Land's End in Cornwall on May 19, 2012.

    The  Olympic Village has been sold to a Qatari-backed consortium for 557 million pounds ($906 million), in a deal that sets out the long-term development of one of the key assets of the Olympic Park.

  • A detailed view of the prototype design of the new golden Olympic torch during its unveiling at St Pancras Station on June 8, 2011 in London, England. 8,000 torchbearers will carry the Olympic Flame around the UK during the 70-day relay, which starts at Land's End in Cornwall on May 19, 2012.

    Anger is mounting in India at the appointment of Dow Chemical as a 2012 Olympics sponsor, marking the fiercest criticism yet of the London committee’s sponsorship programme. The FT reports.

  • When it comes to products designed to enhance athletic performance, the marketplace is full of options. There’s apparel that’s specially designed to enhance speed. Balls with state-of-the-art aerodynamic technology that affects their trajectory. There are even accessories that are thought to utilize the tenets of New Age philosophy to align the wearer’s , thereby making an athlete's gait as effortless as that of a winged cheetah with the wind at his back.Manufacturers claim their products can ma

    What are some of the more notable products available on the market today that are said to enhance athletic performance? Click ahead and find out.

  • When people hear the term "terrible sports contract," two assumptions are often made. First, the agreement in question must have been orchestrated by a greedy team owner, with terms deliberately designed to bilk the athlete. And second, the athlete must have been a young rube who signed the contract without consulting a lawyer first. While these scenarios have surely played out many times in the past, they're not the only ones possible.Sometimes, a terrible contract is actually terrible for the

    What are some of the sports contracts that had terrible consequences for the teams that wrote them? Click and find out.

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    London has been waiting for the Olympics since they were awarded to the UK's capital by the International Olympics Committee in 2005.

  • The 42nd Annual World Series of Poker got underway on May 31, and on July 19, it came to a close. Held at the Rio All Suite Hotel and Casino in Las Vegas, the nine players who emerged victorious from this  will return four months later as “The November Nine” and compete in the $10,000 No Limit Hold’em Championship. The event was broadcast on the cable sports network ESPN, which begs the question, “Is poker actually a sport?”Poker is without question a game of strategy with high stakes and tense

    The definition of the word “sport” is wide and includes activities that nobody should be disqualified from participating in simply because they lack an Adonis-like physique.

  • There’s a well-known saying that age is just a number. Unfortunately , this axiom doesn’t always apply when it comes to professional sports. While it’s true that athletic careers are getting longer thanks to advances in medicine and science, it’s also true human bodies just don’t bounce back from aches, pains and stress fractures like they used to when  people  were young. Even the mighty Shaquille O’Neal had to concede in  that, at the age of 39, "Father Time has caught up with Shaquille O'Neal

    Age is just a number. Unfortunately, this axiom doesn’t always apply when it comes to professional sports. Who are the 10 most notable athletes still active after the age of 40?

  • PyeongChang 2018

    PyeongChang was the prohibitive favorite, not only because it has been through this bidding rodeo unsuccessfully twice before, but because they took the unique step of moving ahead with venues well before they were even declared winners.

  • The British Olympic team is perhaps the only one in the world that relies entirely on non-government sponsorship, but it is on track to have athletes competing in every Olympic sport at the London 2012 Games, Andy Hunt, chairman of the British Olympic Association told CNBC.

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    NBC/Comcast won the rights to the 2014, 2016, 2018 and 2020 Olympic Games on Tuesday. The price? $4.38 billion. That's $64.41 million per Olympic broadcast day. That's a lot of money to make up. Can they do it?

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    Officials with knowledge of the decision say NBC has retained the U.S. Olympic television rights in a four-games deal through 2020 worth more than $4 billion.

  • NBC Gets 4-Game Olympic Deal

    CNBC's Darren Rovell reports NBC will get the rights to a new four-game Olympic Games deal. Discussing OPEC's impact on shippers, with Urs Dur, Lazard Capital Markets, and the Fast Money traders weigh in on today's trades to play.

  • Dick Ebersol

    Dick Ebersol, the head of for the last 22 years, left the network on Thursday after he could not come to terms on a new contract.

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    Not only are hordes of internatonal tourists visiting the big name cities, a new generation of domestic travelers are discovering China's second- and third-tier cities.

  • Brazil, the World Cup & the Olympics

    CNBC's Michelle Caruso-Cabrera takes a look at Brazil's efforts to build a stadium for the 2014 World Cup, and expand its infrastructure before the 2016 Olympics.

  • US President Barack Obama and Brazilian President Dilma Rousseff

    "In the past, Brazil's reach has always exceeded its grasp," says one former U.S. official. "It always saw itself as a leader, but has been frustrated that the world saw it another way. The Brazilian economy is developing to the point where it does have the global heft that people have to take it seriously."

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    Doping is the most serious threat to the integrity of next year's London Olympic Games, British Minister for Sport and the Olympics Hugh Robertson said on Thursday.