At Fulham, the team I support, the old-timers still talk with fondness of the 1976 season, when Bobby Moore, England’s World Cup winning captain, George Best, the ex-Manchester United genius, and Rodney Marsh, another wizard, all played for ‘the Whites’.
It was a deliberate policy of Fulham, to recruit players past their prime. At the peak of their powers, they would not have given Fulham a second glance. But now these were stars only too happy to strut their stuff if someone would have them, and pay them.
That’s exactly what they did, providing unbridled joy, displaying brilliant skill and providing rich entertainment. The goals were spectacular and there was the delightful, constantly replayed moment when Marsh tackled his team-mate Best, just for fun.
Of course the fans knew the trio were getting on but that didn’t matter: they were watching legends playing for their team. There was also serious method at work. Fulham won matches, the crowds rose from 10,000 to 21,000 and younger players were clamouring for the chance to play alongside the big names. Fulham became one of the hottest tickets in football.
Something similar is happening in Saudi Arabia. Crown Prince Mohammed bin Salman has announced that the country’s four largest clubs are to be acquired by PIF, Saudi’s sovereign wealth fund. Simultaneously, there is to be major investment in the wider football league, in other teams, and Europe’s most celebrated players are to be persuaded to sign.
Karim Benzema, the current Ballon d’Or holder, will soon join Cristiano Ronaldo in the kingdom. A deal is being finalised to take him to Al Ittihad.
Next on the list for the Saudi Pro League is Lionel Messi, who is being targeted by Al Hilal - among the 'Big Four' that also includes Ronaldo’s Al Nassr, Al Ittihad, and Al Ahli. The PIF will own 75 per cent of the clubs with the remaining 25 per cent controlled by a non-profit organisation. Four other Pro League clubs will receive a boost, with Saudi state-owned companies injecting substantial amounts of cash.
The idea is for Saudi Arabia to possess a highly competitive, high quality league, propelling it into the top 10 in the world. Currently, the Pro League is rated 58th in terms of quality, below the Scottish Premiership and above Italy’s third tier, Serie C.
Their plan is not to have a league comprised just of fading superstars (even Saudi Arabia with all its money has to accept it cannot prise away players whose ultimate aim is to play in, and win, the world’s leading club competition - the European Champions League).
They intend that rising homegrown and foreign youngsters will wish to join the legends, that the standard of domestic football at all levels will receive an uplift, that Saudi Arabia will be widely lauded as a serious footballing nation.
The Crown Prince is also seeking another spin-off, which is the promotion of sport and fitness in a nation that, like some other developed countries, suffers from high rates of diabetes, heart conditions and obesity.
The Saudi clubs, some of which already have high followings, will become a magnet for Saudi Arabia’s youth, contributing towards a vibrant, ‘feelgood’ economy.
With raised status, it is hoped, will come international recognition; Saudi Arabia could host the World Cup – an aspiration that followed Qatar hosting the first World Cup in the Arab world last year.
This push into top-class professional sport is not new. Saudi Arabia has dedicated $2 billion towards the creation of LIV, the ritzy, big money alternative golf tour to the long-established PGA circuit. The move has created considerable controversy in pro golf, with star names at loggerheads.
After a shaky beginning, there are signs of LIV gaining wider acceptance in the sport and settling down. There is even talk of the two tours seeking a rapprochement and working together.
Other clubs, not only Fulham, and other countries have gone down the same path, with varying results. Not so long ago, China was the place to go, but its league has fallen by the wayside.
The US, too, has long been a hunting ground for stars wanting to see out the remainder of their careers. While the MSL is now recognised as a major league and it is drawing bigger crowds and commanding increasing airtime, somehow it has never quite lived up to its razzmatazz and promise.
Under the Saudi system, beginning in 2023-24, each of the PIF-owned clubs can target a minimum of three world-renowned names. Because they share the same ownership, the league organisers can ensure a fair distribution of talent (like the draft system in the NFL), thus making their competition tight and attractive. Each big name brings with them their own fan base, media coverage and social media following.
Messi is expected to be offered around $400 million by Al Hilal, in addition to a separate contract to promote tourism in Saudi Arabia. Stand back for a flood of players, well-known managers, coaches and referees lining up to follow him, Benzema and Ronaldo.
Other players being mentioned include Neymar, Pepe, Luka Modric, Wilfried Zaha, N’Golo Kante, Adama Traore, Hugo Lloris, Alexis Sanchez and Roberto Firmino.
If nothing else, Saudi Arabia’s aspiration and largesse has suddenly caused a lot of footballing agents to rub their hands in anticipation of the coming months.
Chris Blackhurst is the author of ‘The World’s Biggest Cash Machine - Manchester United, the Glazers and the Struggle for Football’s Soul’ to be published by Macmillan in October.
THREE
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MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
COMPANY%20PROFILE
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SRI LANKA SQUAD
Upul Tharanga (captain), Dinesh Chandimal, Niroshan Dickwella
Lahiru Thirimanne, Kusal Mendis, Milinda Siriwardana
Chamara Kapugedara, Thisara Perera, Seekuge Prasanna
Nuwan Pradeep, Suranga Lakmal, Dushmantha Chameera
Vishwa Fernando, Akila Dananjaya, Jeffrey Vandersay
FIXTURES
All times UAE ( 4 GMT)
Saturday
Fiorentina v Torino (8pm)
Hellas Verona v Roma (10.45pm)
Sunday
Parma v Napoli (2.30pm)
Genoa v Crotone (5pm)
Sassuolo v Cagliari (8pm)
Juventus v Sampdoria (10.45pm)
Monday
AC Milan v Bologna (10.45om)
Playing September 30
Benevento v Inter Milan (8pm)
Udinese v Spezia (8pm)
Lazio v Atalanta (10.45pm)
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
KILLING OF QASSEM SULEIMANI
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
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.”
RESULT
Bayern Munich 0 AC Milan 4
Milan: Kessie (14'), Cutrone (25', 43'), Calhanoglu (85')
The Land between Two Rivers: Writing in an Age of Refugees
Tom Sleigh, Graywolf Press
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
More coverage from the Future Forum
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Starring: Emma Stone, Emma Thompson, Joel Fry
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