PHILADELPHIA // Michael Vick is really back on top now.
The quarterback has agreed a six-year contract with Philadelphia that again makes him one of the highest-paid players in the league, a deal reportedly worth US$100 million (Dh367m).
Vick has come a long way since spending 18 months in a federal prison on dogfighting charges. He led the Eagles to the NFC East title last year, was the starting quarterback in the Pro Bowl and was named the NFL's Comeback Player of the Year.
"I'm very happy we were able to reach an agreement with Michael on this long-term contract," Andy Reid, the Eagles coach, said in a statement. "It's a product of all the hard work Michael has done to better himself over the last couple of years, both on and off the field.
"I'm very proud that he has been able to achieve success again in this league, but he'll be the first one to tell you that there is a lot of work yet to be done by him and this team as a whole. And there's no doubt in my mind that he will continue on that path."
Vick was due to earn slightly more than $16m this season after the Eagles designated him the franchise player in February. After signing the new deal he will make a little less, possibly giving the Eagles salary cap flexibility to give DeSean Jackson, the team's Pro Bowl wide receiver, an extension.
Vick, 31, joined the Eagles after being released from prison in 2009, and played sparingly as the third-string quarterback behind Donovan McNabb, then the starter, and Kevin Kolb.
Vick started last year as the back-up after McNabb left to join the Washington Redskins, but earned the starting role with his exceptional performances after Kolb got hurt in the season opener.
Vick guided the Eagles to an 8-3 record in 11 games as a starter in his first season playing full-time since 2006.
He set career highs in yards passing (3,018), touchdowns passing (21), touchdowns rushing (nine), completion percentage (62.6) and passer rating (100.2).
Vick once was a megastar with the Atlanta Falcons. The No 1 overall pick in the 2001 draft when he left college at Virginia Tech after two seasons, Vick signed a $130 million, 10-year deal in 2005 but lost it all when he went to jail.
He was reviled by fans when he came back, but has won them over with good behaviour off the field, a humble attitude and spectacular plays.
JETS OFFENCE NOT SO HIGH-FLYING
The New York Jets' offence has a long way to go, but Mark Sanchez, the quarterback, is not worried.
The Jets’ first-team unit struggled in their final dress rehearsal before the regular season, a pedestrian 17-3 pre-season victory over the Giants on Monday night.
“No question,” Sanchez said confidently. “We’re ready.”
That might be a surprising declaration considering the Jets could not manage much against the Giants’ starters in the first half other than one touchdown pass from Sanchez to Santonio Holmes.
“It was a grind, that’s for sure,” Rex Ryan, the coach, said. “We struggled, to say the least.”
Elsewhere, Green Bay announced that Kid Rock, Lady Antebellum and Maroon 5 will play the "NFL Kickoff 2011" concert outside Lambeau Field before the Packers' September 8 home opener against the New Orleans Saints.
In Arizona, Patrick Peterson, taken fifth overall in this year's draft, could move into a starting role with the Cardinals after the cornerback Greg Toler was lost for the season with a knee injury.
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
COMPANY%20PROFILE
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MATCH INFO
England 241-3 (20 ovs)
Malan 130 no, Morgan 91
New Zealand 165 all out (16.5ovs)
Southee 39, Parkinson 4-47
England win by 76 runs
Series level at 2-2
Profile of Whizkey
Date founded: 04 November 2017
Founders: Abdulaziz AlBlooshi and Harsh Hirani
Based: Dubai, UAE
Number of employees: 10
Sector: AI, software
Cashflow: Dh2.5 Million
Funding stage: Series A
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Sholto Byrnes on Myanmar politics
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
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.”
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
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TRAP
Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue
Director: M Night Shyamalan
Rating: 3/5
