Meet Freddie Freelance: the man who may have re-invented the way top cricketers go about earning a living.
Andrew Flintoff, a central figure of the England team, turned down a central contract with the England Cricket Board when he retired from Test cricket after this summer's Ashes win over Australia. He essentially became freelance.
The incremental contract he was offered by the England and Wales Cricket Board of £25,000 (Dh149,700) was too piffling to worry about, and might have meant missing bigger pay-days elsewhere.
All of that is, of course, dependent on him recovering from knee surgery, the latest injury in a career sadly blighted by them.
He has been without crutches for nearly a week now, and is moving well, despite still having to wear a brace on his right leg.
But rehabilitation during the winter in Dubai probably dictates that a jaunt around the miles of retail space and then trying to find where you parked the car again afterwards, is still beyond him as yet.
He leaves the malls of Dubai to his wife and three children.
With money already in the bank, as well as two Ashes winners medals, how does he steel himself for the hard toil required to get back to where he wants to be?
"It is not a case of money - it is ambition. There is plenty left in me, and once I do retire, there will be about 50 or 60 years of being retired, hopefully. I want to play as much as I can," he says.
"I'm a cricketer. I love it. I've been fortunate enough to play for England in 79 Test matches, I think, and I don't know how many one-dayers.
"All I've ever wanted to do is play cricket. At 31, nearly 32, I'm not going to give up that chance while I feel I still have games left in me.
"Before every operation, if I didn't feel I could come back and play to a standard that I want to, I wouldn't do it. There is a lot left in me."
As such, Flintoff is not sure about the idea that, as the former England captain Michael Vaughan claimed last week, there needs to be less cricket played in order to improve "the product".
"Having missed two-and-a-half years of cricket in four years, I am not going to sit here and say we play too much," he adds. "I want to play as much as I can. I think one of the things you will find is players' careers will be shorter, however the financial rewards are greater.
"If you turn around to a cricketer and say, 'Fine, we'll play less but we will cut your salary,' it would be interesting to see what reaction you would get from that.
"I'm sure there is a balance to be found, because it is a gruelling schedule. However, you try to say that to a fella who works 12-hour shifts, that we play too much cricket, and it won't wash."
Another player who has suffered from intense scheduling is the fast bowler Steve Harmison, who Flintoff says would have been the first name on his teamsheet for the tour of South Africa starting November 13.
With Flintoff injured, and now retired from the Test game, England will be without their two most hostile bowlers after excluding Harmison from the squad.
The temperamental Durham bowler was restored to the line-up as crunch time approached in England's bid to regain the Ashes in the summer. His three quick wickets on the final afternoon at the Oval brought victory to within England's grasp, but he is now deemed surplus to requirements.
"He would have been first on my list. He played in the most important game of the summer, in the last Test match at the Oval, which indicates his merit to the side," says Flintoff.
"To not take him away was a bit different, but they want to move in a different direction."
Harmison was seething at being overlooked, and South Africa's coach, Mickey Arthur, even said his players were relieved to hear of his omission this week.
Harmison's speed would have come handy in the favourable conditions of South Africa, but the selectors opted instead for his Durham teammates Graham Onions and Liam Plunkett, alongside Stuart Broad, James Anderson and Ryan Sidebottom.
There were rumours that Harmison, who is a famously reluctant tourist, was in two minds over making himself available for the trip. Some even predicted he was about to follow his friend Flintoff into Test retirement.
But Harmison is resolved to fighting to regain his place and Flintoff is sure England will not be able to ignore him for long.
"He has not retired, so I think that speaks volumes for what he wants to do, he wants to get back in the side," he adds. "He will probably go back to Durham like he did this year, they will win the championship again and he'll be the best bowler and everyone will be talking about him again."
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UAE currency: the story behind the money in your pockets
FIRST TEST SCORES
England 458
South Africa 361 & 119 (36.4 overs)
England won by 211 runs and lead series 1-0
Player of the match: Moeen Ali (England)
UAE currency: the story behind the money in your pockets
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Engine: Turbocharged four-cylinder 2.7-litre
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Sabri Razouk, 74
Athlete and fitness trainer
Married, father of six
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Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn
Power drink: A glass of yoghurt
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Heather, the Totality
Matthew Weiner,
Canongate
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Power: 727hp
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Transmission: 8-speed auto
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MATCH INFO
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Paatal Lok season two
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
