ABU DHABI // The team led by Sheikh Mansour bin Zayed in the takeover of Manchester City is preparing to introduce new directors to the board of the English Premier League club as it moves towards finalising a deal worth more than Dh1.3 billion (US$350 million).
After a week of excited claims about the star players the newly enriched club might now try to recruit, Sheikh Mansour's private equity holding, Abu Dhabi United Group for Development and Investment (ADUG), is concentrating on a calmer, more structured approach to developing a team capable of challenging for football's highest honours.
Further investment in City's respected youth academy, measures to capitalise on the club's "incredible" fan base and a commitment to give wholehearted backing to the manager, Mark Hughes, are seen as key elements in ADUG's immediate plans, a source close to the ownership team said yesterday.
The "due diligence" process that began with the announcement of the takeover eight days ago is expected to be completed next week, after which directors installed under the previous owner, Thaksin Shinawatra, former prime minister of Thailand, would be replaced by individuals considered more suited to the longer-term interests of the club.
The man associated most prominently in early coverage of the deal, Dr Sulaiman al Fahim, chief executive officer of Hydra Properties and a high-profile figure in the UAE business and sporting worlds, will not be a member of the newly constituted board, despite earlier reports to the contrary. However, the ownership team disputes suggestions in the western press that Dr Fahim has been "sidelined".
"That implies that it was ever the intention that he should have a continuing role," said the ownership team source. "His involvement was to broker the deal, and having accomplished one of the fastest and smoothest acquisitions in Premier League history, we now see the need to establish a board with individuals appropriate to identifying and addressing the future requirements of the club."
Sheikh Mansour, for whom the investment is a private venture unconnected to the Government, which he serves as Minister of Presidential Affairs, has been told by his advisers that in Hughes, Manchester City have a manager with "outstanding man-management and motivational qualities, an amazing eye for talent and the ability to build a team to compete with the best".
The youth academy is considered especially impressive. City's under 18s team won the FA Youth Cup last season and several products of the club's youth policy played during the recent emphatic victory, on the eve of the takeover announcement, at Sunderland.
"The importance of building further on the success of this part of the club simply cannot be overstated," the source said. "Do not forget that the most successful period of Manchester United's recent history was based to a large extent on graduates of their academy."
The role of the academy has assumed greater significance since the deal, under which ADUG takes 90 per cent of the club's ownership with Thaksin retaining the remaining 10 per cent, Some observers claimed the process of feeding home-grown talent to the first team would be undermined as a procession of expensive new signings made it impossible for young players to break through.
Interest in City has soared since details of the takeover disclosed. Many hundreds of extra season tickets have been sold and the club's shop has reported a massive boost in takings, especially in replica shirt sales inspired by the record British signing of Real Madrid's Brazilian forward Robinho from under the noses of Chelsea.
"The fan base is incredible," said the source. "They have given City support that is second to none, and this is seen as vital to the development of the club."
In the days following news of ADUG's purchase of the club, the ownership team became uneasy with extravagant talk of City plotting audacious bids for some of the best players in the world. The Man Utd and Portugal winger Cristiano Ronaldo, Liverpool's Spanish striker Fernando Torres and Arsenal's Spanish midfielder Cesc Fabregas were among the names mentioned by Dr Fahim.
While huge funds are certain to be made available for Hughes to strengthen his squad, the ownership team has carefully distanced itself from such speculation, and from reports confusing the private takeover the club with the Government.
"In Abu Dhabi, we prefer to go about business in an understated, pragmatic and patient manner," the source said. "Brashness is simply not our natural game."
Sheikh Mansour is expected to become more publicly associated with the ownership of the club once due diligence has been concluded. On Saturday, City host Chelsea in what is being billed as "the Abu Dhabi Derby", given Chelsea's sponsorship by Etihad Airways, but he considers it would be inappropriate to attend Eastlands, City's stadium, before the deal is formalised.
@Email:crandall@thenational.ae
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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The biog
DOB: 25/12/92
Marital status: Single
Education: Post-graduate diploma in UAE Diplomacy and External Affairs at the Emirates Diplomatic Academy in Abu Dhabi
Hobbies: I love fencing, I used to fence at the MK Fencing Academy but I want to start again. I also love reading and writing
Lifelong goal: My dream is to be a state minister
UAE currency: the story behind the money in your pockets
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What is hepatitis?
Hepatitis is an inflammation of the liver, which can lead to fibrosis (scarring), cirrhosis or liver cancer.
There are 5 main hepatitis viruses, referred to as types A, B, C, D and E.
Hepatitis C is mostly transmitted through exposure to infective blood. This can occur through blood transfusions, contaminated injections during medical procedures, and through injecting drugs. Sexual transmission is also possible, but is much less common.
People infected with hepatitis C experience few or no symptoms, meaning they can live with the virus for years without being diagnosed. This delay in treatment can increase the risk of significant liver damage.
There are an estimated 170 million carriers of Hepatitis C around the world.
The virus causes approximately 399,000 fatalities each year worldwide, according to WHO.
How to avoid crypto fraud
- Use unique usernames and passwords while enabling multi-factor authentication.
- Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
- Avoid suspicious social media ads promoting fraudulent schemes.
- Only invest in crypto projects that you fully understand.
- Critically assess whether a project’s promises or returns seem too good to be true.
- Only use reputable platforms that have a track record of strong regulatory compliance.
- Store funds in hardware wallets as opposed to online exchanges.
Coming 2 America
Directed by: Craig Brewer
Starring: Eddie Murphy, Arsenio Hall, Jermaine Fowler, Leslie Jones
3/5 stars
Company%20profile
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The Book of Collateral Damage
Sinan Antoon
(Yale University Press)
What is a robo-adviser?
Robo-advisers use an online sign-up process to gauge an investor’s risk tolerance by feeding information such as their age, income, saving goals and investment history into an algorithm, which then assigns them an investment portfolio, ranging from more conservative to higher risk ones.
These portfolios are made up of exchange traded funds (ETFs) with exposure to indices such as US and global equities, fixed-income products like bonds, though exposure to real estate, commodity ETFs or gold is also possible.
Investing in ETFs allows robo-advisers to offer fees far lower than traditional investments, such as actively managed mutual funds bought through a bank or broker. Investors can buy ETFs directly via a brokerage, but with robo-advisers they benefit from investment portfolios matched to their risk tolerance as well as being user friendly.
Many robo-advisers charge what are called wrap fees, meaning there are no additional fees such as subscription or withdrawal fees, success fees or fees for rebalancing.
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Match info
Liverpool 4
Salah (19'), Mane (45 2', 53'), Sturridge (87')
West Ham United 0
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
The Facility’s Versatility
Between the start of the 2020 IPL on September 20, and the end of the Pakistan Super League this coming Thursday, the Zayed Cricket Stadium has had an unprecedented amount of traffic.
Never before has a ground in this country – or perhaps anywhere in the world – had such a volume of major-match cricket.
And yet scoring has remained high, and Abu Dhabi has seen some classic encounters in every format of the game.
October 18, IPL, Kolkata Knight Riders tied with Sunrisers Hyderabad
The two playoff-chasing sides put on 163 apiece, before Kolkata went on to win the Super Over
January 8, ODI, UAE beat Ireland by six wickets
A century by CP Rizwan underpinned one of UAE’s greatest ever wins, as they chased 270 to win with an over to spare
February 6, T10, Northern Warriors beat Delhi Bulls by eight wickets
The final of the T10 was chiefly memorable for a ferocious over of fast bowling from Fidel Edwards to Nicholas Pooran
March 14, Test, Afghanistan beat Zimbabwe by six wickets
Eleven wickets for Rashid Khan, 1,305 runs scored in five days, and a last session finish
June 17, PSL, Islamabad United beat Peshawar Zalmi by 15 runs
Usman Khawaja scored a hundred as Islamabad posted the highest score ever by a Pakistan team in T20 cricket
LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Going grey? A stylist's advice
If you’re going to go grey, a great style, well-cared for hair (in a sleek, classy style, like a bob), and a young spirit and attitude go a long way, says Maria Dowling, founder of the Maria Dowling Salon in Dubai.
It’s easier to go grey from a lighter colour, so you may want to do that first. And this is the time to try a shorter style, she advises. Then a stylist can introduce highlights, start lightening up the roots, and let it fade out. Once it’s entirely grey, a purple shampoo will prevent yellowing.
“Get professional help – there’s no other way to go around it,” she says. “And don’t just let it grow out because that looks really bad. Put effort into it: properly condition, straighten, get regular trims, make sure it’s glossy.”
Engine: 3.5-litre V6
Transmission: eight-speed automatic
Power: 290hp
Torque: 340Nm
Price: Dh155,800
On sale: now
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Mountain%20Boy
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South Africa's T20 squad
Duminy (c), Behardien, Dala, De Villiers, Hendricks, Jonker, Klaasen (wkt), Miller, Morris, Paterson, Phangiso, Phehlukwayo, Shamsi, Smuts.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
