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Team USA shocks Spain in soccer

BLOEMFONTEIN, South Africa, June 24 (UPI) -- Goals by Jozy Altidore and Clint Dempsey Wednesday gave the United States a stunning 2-0 win over world No. 1 Spain in the Confederations Cup semifinals.

The Spanish national team had won 15 straight games and had not lost in their last 35 matches dating to 2006.

For the first time in United States soccer history, an American team will play in the finals of a tournament conducted by FIFA, the sport's world governing body.

Altidore scored on a blast from 18 yards out in the 27th minute, a shot that glanced off the arm of goalkeeper Iker Casillas.

The goal by Dempsey came in the 74th minute during a goalmouth scramble. Spain's Sergio Ramos failed to make a decisive attempt to clear and Dempsey, who was standing behind Ramos, surprised the Spanish defender by leaning forward and chipping the ball into the goal.

Spain outshot the Americans 29-9 and mounted an almost continuous, but futile, attack during the last half hour.

American midfielder Michael Bradley was handed a red card with three minutes remaining and will miss Sunday's championship game, in which the United States will face either Brazil or South Africa.

Peace agreement reached in Formula One

PARIS, June 24 (UPI) -- Teams that had threatened to break away from Formula One racing agreed to remain in the series Wednesday and claimed a victory in the showdown.

Max Mosley,president of Formula One's governing body (FIA), said he would immediately step away from the day-to-day operation of the series and would officially resign in October when his contract expires.

Eight of the teams involved in Formula One, including the powerhouse Ferrari organization, announced this month they would create their own racing series.

Their chief complaint was a proposed budget cap. The cap was thrown out in the agreement that was reached Wednesday, but Mosley said the teams had agreed to an unspecified reduction in costs.

"The basic news is that there will be no split," Mosley said. "We've reached agreement on a number of items. In particular, we've reached agreement on reduction of costs. We've had significant help from the teams. The objective is to get back to early 1990s levels within two years."

The agreement will keep the teams in Formula One through 2012.

Ferrari President Luca di Montezemolo said the would-be breakaway teams got all they wanted in the agreement.

"The FIA's council has today approved all our proposals," he said. "The objective is to avoid continuous changes decided by one person alone."

McLaren, BMW Sauber, Renault, Toyota, Red Bull, Toro Rosso and Brawn GP were also involved in the abbreviated split with Formula One.

Wizards trade No. 5 pick to Minnesota

WASHINGTON, June 24 (UPI) -- The Washington Wizards announced Wednesday they had traded the fifth pick in Thursday's NBA draft to Minnesota for guard Randy Foye.

Forward Darius Songalia and centers Oleksiy Pecherov and Etan Thomas also went to Minnesota, which sent swingman Mike Miller to Washington in return.

It was the biggest deal made on the eve of the NBA draft, in which the Los Angeles Clippers will have the first pick. Memphis, Oklahoma City and Sacramento will have the second, third and fourth choices and Minnesota now owns both the No. 5 and No. 6 picks. The Timberwolves also have the 18th and 28th choices in the first round.

In another deal Wednesday, Dallas and Portland traded their first-round picks and the Mavericks picked up a second-round choice in the process. Portland will now pick 22nd in the draft and Dallas will have the 24th selection.

Panthers ink DE Julius Peppers

CHARLOTTE, N.C., June 24 (UPI) -- Disgruntled defensive end Julius Peppers of the Charlotte Panthers signed his one-year franchise tender Wednesday, ending a possible training camp holdout.

No details were released by the team, but various media reports said the tender is worth $16.7 million.

The former University of North Carolina two-sport star -- football and basketball -- had asked to be traded this entire off-season before signing the tender, saying he needed to play elsewhere.

He was a no-show at Carolina's three-day mini-camp last month because he was angered by the Panthers making him their franchised player.

"I have signed the franchise tender and am now under a one-year contract with the Carolina Panthers," the 6-foot-7 inch, 283-pounder said in a brief statement to the Charlotte Observer late Wednesday. "Recently, I've had positive and productive discussions with the organization. I am optimistic and focused as I look forward to the upcoming NFL season."

In 106 NFL games, he has amassed 70 1/2 sacks and 344 tackles.