In a much awaited move, Real Madrid has signed a deal over loaning its young midfielder Sergio Canales to Primera Division rivals Valencia, though financial terms have been kept under wraps.

After fulfilling his commitments with Spain at the Under-20 World Cup in Colombia, the 20-year-old Canales will be teaming up with Valencia later this month. Earlier, Canales had played with Aston Villa, Everton and Premier League new boys Queens Park Rangers.

The news that Barcelona has agreed to sell Spain Under-21 star Bojan Krkic to Italian giant Roma for €12 million has given a shock to coach Pep Guardiola. He did not have a word with coach Pep Guardiola, since they won Champions League final in May.

Buoyed by their success in the World Cup in 2010, Spain is ready to push for co-hosting the 2018 tourney with neighboring Portugal, Secretary of State for Sports Jaime Lissavetsky said Tuesday.

In an address to the Spanish Football Federation's (RFEF) general assembly meeting, Lissavetsky said, "Spain's next challenge is to organise the 2018 World Cup."

Spain and Portugal hope to pool their resources -- as Japan and South Korea did in 2002 -- for 2018 after Brazil hosts the next edition in 2014.

Spain’s uncapped Pedro and Javi Martinez drew lots to decide which of them has to wear the unwanted number two shirt at the World Cup.

While talking to reporters, Barcelona forward Pedro said, “Javi and I were the only ones left to choose a number as we were the last to arrive and the truth is that neither of us were particularly excited about wearing the number two.”

In the meantime, he also added, “SO we drew lots and I got it. In any case, it doesn’t matter and it won’t be a problem.”

Spain continued to top the FIFA World Rankings, leaving Brazil at the second position and the Netherlands at the third position, in the latest edition released on Wednesday, while Portugal gained two positions to fourth.

Meanwhile, world Champions Italy and Germany slipped one place each to fifth and sixth spot respectively, and Fabio Capello’s England team have continued their climb by progressing France into seventh.

Moreover, Croatia (10th) is back in the top 10 after a two-month absence.

According to recent reports, Sports betting machines will be in Catalunya, the Spanish region which includes Barcelona, till the end of 2011.

The sports betting through shops and machines are already legal in the Basque Country in the north and in the Spanish capital.

Meanwhile, Catalunya would be regarded as one of the leading targets for the expansion of online machines as it is one of the principal regions of population. It is confidently predicted that another of the major aims.

The presence of Egypt in the top ten of FIFA’s world rankings proved short-lived as the African Nations Cup winners slipped from 10th to 17th in the new list released during the last week.

Moreover, Egypt jumped 14 grades last month owing to their third consecutive Nations Cup triumph but, because of the vagaries of the ranking system where year-old results fall out of the reckoning, they have now dropped down the rankings.

According to the data revealed by an Australian betting agency, Brazil and Spain are favored above England and Argentina to lift the 2010 FIFA World Cup.

However, Germany is placed at fifth position by the agency out of the 32 teams that have qualified to play in 2010 FIFA World Cup in South Africa in 2010.

New Zealand, competing in its first World Cup in a generation, is regarded as the least favorite nation to win the World Cup, followed by Honduras and North Korea.

Spanish players continued to show their striking performance as they outplayed Austria in the last game of the year and won the match by 5-1 in Vienna.

It was Spain’s 15th win from 16 games.

In the ninth minute of the game, Austria went ahead from Janstcher, but then the Spanish goals came with two from Villa and one each by Cesc, Guiza and Pablo.

While talking to reporters after the match, Captain lker Casillas said, “In the first 20 minutes, all Austria wanted to do was kick us. It was not a friendly. They played ugly football, and the red card was justified.”

Former Spain coach Luis Aragones has added his name into the coaching market, saying he is looking for a new job.

The 71-year-old told in an interview that he was physically and mentally well and would likely coach abroad.

Luis, who led Spain to the 2008 European Championship tournament, said that he wants to work again after being fired by Turkish club Fenerbahce after one season.

However, he turned down the likelihood of replacing Real Madrid coach Manuel Pellegrini but added, “If the opportunity is there, I can’s say no.”