Englishman agrees to buy Mallorca

English businessman Paul Davidson is set to buy the controlling share in Spanish football club Real Mallorca.

Drac, the company which owns the club, announced on Mallorca's website that a pre-agreement had been reached.
It was also stated that Davidson will not take over as president of the club, with Drac owner Vicente Grande remaining in the role.
Davidson, who owns a pipe-fitting firm, said he is buying Real Mallorca to promote his businesses in Spain.
He told the Telegraph: "I don't know much about football but I will use the club to promote my other business interests.
"We will operate our other businesses from the club, but I will not be taking decisions about football. I will leave that to the current management."
Davidson, who is known as "The Plumber", will have to formalise the agreement in the coming weeks and the agreement will also be subject to a period of due diligence.
The pipe-fitting company owned by Davidson, Fluid Leader, was recently floated on the Plus Market, earning the Englishman a reported £40m.
It is believed Davidson will pay £50m to gain a 96% share in Mallorca, and saw off competition from ex-Newcastle chairman Freddy Shepherd as well as an unnamed Russian investor.

Essien signs new Chelsea contract

Chelsea's Michael Essien has signed a new five-year deal - following keeper Petr Cech and defender Wayne Bridge in committing his future to the club.

The Ghana midfielder, 25, has been a major success since joining Chelsea from Lyon for £24m in 2005.
He said: "I am very happy here. We have a great team and fantastic fans who have always made me welcome.
"With the addition of the new manager Luiz Felipe Scolari, I am feeling very positive about the season ahead."

The deal means that Essien is contracted to Chelsea until 2013. It was revealed on Monday that Cech had signed a five-year deal with the Blues, while Bridge put pen to paper on a new four-year contract last week.
Scolari, who has had to endure much speculation about the future of midfielder Frank Lampard since taking over as Chelsea manager this month, is delighted that Essien has pledged his future to the London club.
"I have not been here long but it is clear to me that Michael Essien is one of the best midfield players in the world," stated the former Portugal boss.
"I have always admired him and it is good news for me and for Chelsea that he signs for so long."