Some interesting reading on race and sports:
http://www.pponline.co.uk/encyc/0657.htm
RallyJon, I don't think there's any debate that some people are born smarter than others. Whether or not intelligence has a lot of practical value is a different issue though.
However, the danger (as mentioned in the above article) is when we assume that because some groups might be well-suited for athletics (blacks for instance) that they must lack in other arenas like intelligence.