Sport

Raul joins Schalke

BERLIN (AP):

Long-time Real Madrid forward Raul Gonzalez completed his move to Bundesliga club Schalke yesterday, signing a two-year contract.

Raul joined Schalke on a free transfer after 15 seasons with Madrid, ending lengthy speculation about the move.

The club presented the 33-year-old striker at their stadium in Gelsenkirchen, giving him the number 7 shirt.

"I'm looking forward to starting on a new challenge," Raul said. "It's an important challenge for me."

Coach Felix Magath, who secured Raul's agreement on Tuesday evening, said it was "great news for Schalke."

New Olympic sponsor

LONDON (AP):

Procter & Gamble, the US-based consumer products giant, signed on as a global Olympic sponsor through 2020 yesterday in the second 10-year multi-million-dollar marketing deal this month for the International Olympic Committee.

P&G becomes the 11th worldwide sponsor of the 2012 London Olympics, matching the number from the 2008 Beijing Games and giving the IOC another financial boost in a tough economic climate.

Financial terms weren't disclosed, but the deal is believed to be worth between $150 million and $200 million over a decade that includes three Summer Olympics and two Winter Games. In addition to London, the contract covers the 2014 Winter Games in Sochi, Russia, the 2016 Summer Olympics in Rio de Janeiro and the 2018 Winter Games and 2020 Olympics.

The P&G sponsorship - first reported by The Associated Press last week - comes just two weeks after Dow Chemical was confirmed as an IOC sponsor, also through 2020.