Just as the movies have their Academy Awards to recognize the best people in the film industry, so is there the Laureus World Sports Awards to give recognition to the world’s top professional athletes.

Founded in 1999 by its patrons, Mercedes-Benz parent company Daimler and luxury goods company Richemont, Laureus awards top men and women athletes from all around the world who have exceeded expectations and won top rank in their respective sports.

Mercedes-Benz proudly supports Laureus as its global partner. The event not only awards athletes but is primarily aimed at raising money for children in poverty. Through sports, less fortunate youngsters will be able to build a better future for themselves. That’s the driving philosophy behind the Laureus organization.

This year’s star-studded ceremonies were held in Abu Dhabi, with the 2010 Sportsman and Sportswoman of the Year awards being given to athletics champ Usain Bolt of Jamaica and tennis wonder Serena Williams from the USA.

The pinnacle of motorsports, Formula One, was greatly highlighted this year with the Brawn Formula One Team earning the Team of the Year award, while their former driver, 2009 F1 champ Jenson Button of Great Britain won the Breakthrough of the Year award.