The UAE is among the Gulf countries in the running to host the crossover fight between Conor McGregor and Manny Pacquiao, with the management company driving negotiations saying talks to get the bout signed are developing at pace.
McGregor, one of sport's most high-profile athletes, created major headlines late on Friday when announcing on social media that he was coming out of retirement to face Pacquiao in a boxing match in the Middle East.
The Irishman, a two-division UFC champion, had called time on his fight career in June – the third time he has done so in four years. He last competed in January, defeating Donald Cerrone within 40 seconds of his UFC return in Las Vegas. Meanwhile, Pacquiao has not fought since July last year.
On Saturday, the eight-division champion’s camp responded to the McGregor news, with a statement from the Philippine senator’s office reading: “For the sake of all the Filipino Covid-19 victims, Senator Manny Pacquiao will be fighting UFC superstar Conor McGregor next year.
“The huge portion of his earnings will proceed to those who are affected nationwide by the pandemic.”
Speaking to The National on Saturday, Paradigm Sports Management, who represent both McGregor and Pacquiao, said there was significant interest from inside and outside the Middle East to host the fight, with the UAE among those in contention.
“It’s certainly an option,” said Azhar Muhammad Saul, senior vice president of strategy and business development at Paradigm. “Of course there’s two or three countries that you’d normally expect here. If you narrow down the scope geographically, it’s the GCC. It’s one of a few markets that are interested.
"We’re deep in negotiations with multiple parties now and we’re confident either at the end of the year or early next year that the super fight will take place.”
Muhammad Saul said the date would be determined by the fight location. Pacquiao, the current WBA (Super) welterweight champion, has for some time been linked with competing in the region, with the UAE, Saudi Arabia and Bahrain previously mooted.
“Realistically we’re looking at a window between the end of December to early January," Muhammad Saul said. "Depending on which location the fight takes place will determine what date it will happen, because different countries have different event obligations, Covid-19 protocols, travel and so on and so forth.
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Manny Pacquiao's win over Keith Thurman - in pictures
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“A fight of this magnitude, we see this as something to give back to the wider population. It’s a gift really. You can think about it in two ways: it’s been a tough year for everybody and to have such a major super fight happening just uplifts everyone. We’re looking at maximising that from an events point of view.”
Muhammad Saul said the fight, which is expected to headline an impressive card, would ideally take place with fans in attendance, but that all those involved in the deal were “cognisant of the world that we’re living in at the moment”.
On how Paradigm’s relationship with both fighters makes an agreement more likely, Muhammad Saul said: “It certainly helps as we acknowledge the appetite from both sides. Both fighters want it. We also work closely with the UFC and had a meeting about this match-up and they are on board as well. Manny’s motivation is to give back to the community - he sees this as a form of giving back to the people.
“Conor’s activity was never in question; he always wanted to fight. The three-fight season was not rhetoric, it was something he was deeply committed to. In light of the pandemic, Conor has spent this period giving back to his community and focusing his time on his businesses and philanthropic endeavors, while staying active and fit.
“Conor’s looking forward to getting back on track with his personal goals and giving the fans of the world a fight for the ages, while seeing in the dawn of better times for all in 2021.”
Audie Attar, Paradigm’s founder and CEO, added: “Like we say, you should stay ready so you don’t have to get ready. It’s a very fluid situation, but we’re deep in negotiations with a number of different parties.
“Our expectation is to get this thing wrapped up quickly so we can start the lead-up and the build-up to it. You saw Conor release some video of him in the ring yesterday, so he’s already in great shape as it is.
“I’ve come to learn that Manny is one of the greatest fighters of all time for a reason: he’s a machine. He’s not only a senator doing the State’s work day-in, day-out for his beloved country, but training is a fundamental part of his life.
“They’ve both been keeping fit, active and healthy so they’ll want to get into camp quite quickly. So I’d say stay tuned.”
McGregor has already been involved in a boxing match, when in 2017 he took on the unbeaten Floyd Mayweather Jr in a money-spinning bout at the T-Mobile Arena in Nevada. Mayweather won by TKO in the 10th round.
The cost of Covid testing around the world
Egypt
Dh514 for citizens; Dh865 for tourists
Information can be found through VFS Global.
Jordan
Dh212
Centres include the Speciality Hospital, which now offers drive-through testing.
Cambodia
Dh478
Travel tests are managed by the Ministry of Health and National Institute of Public Health.
Zanzibar
AED 295
Zanzibar Public Health Emergency Operations Centre, located within the Lumumba Secondary School compound.
Abu Dhabi
Dh85
Abu Dhabi’s Seha has test centres throughout the UAE.
UK
From Dh400
Heathrow Airport now offers drive through and clinic-based testing, starting from Dh400 and up to Dh500 for the PCR test.
If you go
The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at.
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.
House-hunting
Top 10 locations for inquiries from US house hunters, according to Rightmove
- Edinburgh, Scotland
- Westminster, London
- Camden, London
- Glasgow, Scotland
- Islington, London
- Kensington and Chelsea, London
- Highlands, Scotland
- Argyll and Bute, Scotland
- Fife, Scotland
- Tower Hamlets, London
UAE currency: the story behind the money in your pockets
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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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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
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