The football season in England is over. Among the losers is Ebbsfleet United.
The professional North Kent, Thames Estuary club finished rock bottom of the National League, the fifth tier of the football pyramid, with 22 points from 46 games, managing just three wins and racking up a goal difference of minus 60. Down to the next tier Ebbsfleet goes.
Incredibly, despite it all, Ebbsfleet – which in 2008 was the first Kent club to win the FA Trophy – still attracts about an average of 1,450 hardy souls to each home game.
Ebbsfleet may be down, but "the Fleet" is not a club without soaring ambition. Last month, a public inquiry began into plans backed by the club for an 8,000-capacity stadium by the Thames. The surrounding Northfleet Harbourside development also includes 3,500 homes, a hotel, offices and retail space.
For those who follow the club’s fortunes and indeed the wider subject of football ownership, the planning application elicited a feeling of deja vu. Ebbsfleet’s owner until recently, and ultimate backer of the Northfleet Harbourside development, Abdulla Al Humaidi, has become synonymous with allegations of fraud, bankruptcy, convoluted corporate structures and shareholdings, and litigation.
As the Football Finance Bill wends its way through Parliament, with the central plank being the creation of an official regulator, Ebbsfleet acts as a case study for why an independent watchdog, one with the ability to conduct due diligence and rigorous testing before granting permission for a change of owner, is necessary. It also casts a spotlight on the uncanny ability of some folk to seemingly never disappear, to repeatedly rebound from apparently ruinous financial adversity with another grand scheme so dazzling that investors are seemingly willing to ignore a history of failure.
Off the field, Ebbsfleet’s fortunes are bound to Mr Al Humaidi and his family. The Kuwaiti businessman, 39, bought the club through his company KEH Sports in 2013. KEH Sports belongs to Kuwaiti European Holding Company (KEHC UK), according to the company’s accounts. This company, in turn, is owned by Kuwaiti European Holding Company KSC (Kuwait), of which Mr Al Humaidi has a majority shareholding and his family still owns.
He said he wanted Ebbsfleet to join the big time, to gain promotion to the senior leagues, with the intention to use that success to boost the area economically.
In happier days, the local area did once appear destined for a boom. Ebbsfleet was the site chosen for a stop on the Eurostar from London to Paris. However, the cross-Channel rail service quit using Ebbsfleet International, as the station was known, in 2020.
The club has faced turbulent times under its Kuwaiti leadership. Mr Al Humaidi faced financial issues at the club and issues with staff at Ebbsfleet, allegedly not paying the players wages on time over a year-long period as well as, they claimed, failing to provide correct medical insurance for the team. This led to players refusing to warm up and issuing a public statement to the fans. Ebbsfleet denied the claims.
Apparently in punishment for the players going public, Mr Al Humaidi allegedly refused to pay one set of salaries and put all the players on the summer transfer list. Ebbsfleet was then subjected to a transfer embargo for not paying a tax bill.
The football club was just one aspect, albeit a central one of Mr Al Humaidi’s supremely confident vision. Now, instead of using the team's success to boost the district, he is hoping that development can salvage the fortunes of a fast-sinking club. In its vaulting scope, the Northfleet Harbourside development has a familiar ring, echoing another local scheme that became a by-word for failure.
The Dublin medical graduate (he did not pursue a long career as a doctor, choosing instead to manage the family investment firm, Kuwaiti European Holding) also had designs on opening a theme park.
Nicknamed "Dartford Disneyland" in relation to its location on a spur between Dartford and Gravesend, the London Resort, as it was officially and immodestly titled, was to be built by London Resort Company Holdings, ultimately controlled by Mr Al Humaidi. He would link up with Paramount, the major Hollywood studio, and the rides were to have a film and TV flavour, with tie-ins to TV favourites Dr Who and Thunderbirds. The £3.5 billion ($4.73 billion) attraction would draw an estimated 12 million visitors a year and create 30,000 jobs.
The government was suitably impressed, even calling it a project of "national importance". At one stage, PY Gerbeau, the man charged with saving the Millennium Dome exhibition in 2000, was drafted in as chief executive, with former Tory minister Stephen Norris also involved. The London Resort’s opening was set for 2024.
Except it did not happen; Dartford Disneyland never materialised.
Rows about funding and a requirement to protect a rare type of spider that lived on the site sparked delays. Having racked up debts of more than £100 million and received many millions from investors, including £5 million from the British taxpayer, London Resort collapsed into insolvency and Mr Al Humaidi was declared bankrupt in November 2023.
That was not the end of it or him, however. Mr Al Humaidi is not someone to take "no" for an answer, as he tried to salvage the scheme. That only ceased when Paramount, which is owed £13.5 million, took legal action, accusing London Resort Company Holdings of trying to rush through a company voluntary arrangement, or CVA, under which companies are saved by their creditors.
In the High Court, Judge Sally Barber found three "serious and irremediable breaches of the terms" of the CVA, saying London Resort Company Holdings failed to supply sufficient evidence of the debts of £105 million on which it was supposedly pinning the rescue agreement.
There was claimed to be extra capital of £607 million due, but that was not forthcoming. Ms Barber noted that Mr Al Humaidi "continued to play a very active role in the company", even after his bankruptcy. In English corporate law, undischarged bankrupts are forbidden to take part in the running of a company without court permission.
The story gets no happier in Kuwait, where Mr Al Humaidi has repeatedly been sued by investors and others to whom he owes substantial amounts of. A recent judgment in Kuwait found him guilty of fraud and sentenced him in absentia to three years in prison, with the judgment itself stating that al-Humaidi’s investment firm had “been subject to many fraudulent cases [and] carried out money laundering operations.”
The new development at Northfleet is declared to be the brainchild of an Irish company called Landmarque Property. Landmarque is in turn owned by a UK company, Sierra Investments, which was one of Abdulla Al Humaidi's concerns until his bankruptcy, upon which his brother Dherar took charge. Dherar is a shareholder in Sierra, as is Hessa, mother of Dherar and Abdulla.
It was a similar story at Ebbsfleet United. On his bankruptcy, he resigned as chairman and appointed his cousin, Abdullah Aaaf Al Humaidi, as chairman. and Dherar and another cousin, Abdulrahman Al Humaidi, as directors.
Ebbsfleet United is proclaiming Northfleet Harbourside as a joint proposal between the football club and Landmarque – both of which are ultimately owned by Abdulla Al Humaidi. The operator of the new stadium will be Northfleet Harbourside Holding Company, which is owned by KEHC UK.
Mr Al Humaidi is denying he was ever the dominant force at Ebbsfleet United. Incredibly, and despite his own actions as owner of the club, he now claims that official Companies House filings indicating such were wrong – and that the people who submitted the documents made a mistake, as his holding was only 29 per cent not the 50-plus per cent as they said.
He says Dartford Disneyland "destroyed my life" and "ruined my reputation". He has won appeals against legal cases in Kuwait bar the one resulting in the three-year sentence, which he will also fight and he claims was due to a misunderstanding.
He may be bankrupt but he continues to live in Mayfair.
Northfleet Harbourside is testament to his remarkable powers of recovery. The local council and the football club’s supporters, who of course would love a brand-new ground, have given their approval. There is, though, plenty of opposition, particularly from local businessmen whose livelihoods depend on access to the Thames. The planning inquiry, which is expected to last well until June, will represent yet another attempt to get to the bottom of Mr Al Humaidi’s affairs.
Whether this saga will finish once and for all remains to be seen. Every occasion Mr Al Humaidi appears finished, he manages to bounce back with another eye-catching blueprint.
Alas, the same could not be said for Ebbsfleet United, not this season. The numbers – witness that goal difference – tell their own sad story.
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
RESULTS
Lightweight (female)
Sara El Bakkali bt Anisha Kadka
Bantamweight
Mohammed Adil Al Debi bt Moaz Abdelgawad
Welterweight
Amir Boureslan bt Mahmoud Zanouny
Featherweight
Mohammed Al Katheeri bt Abrorbek Madaminbekov
Super featherweight
Ibrahem Bilal bt Emad Arafa
Middleweight
Ahmed Abdolaziz bt Imad Essassi
Bantamweight (female)
Ilham Bourakkadi bt Milena Martinou
Welterweight
Mohamed Mardi bt Noureddine El Agouti
Middleweight
Nabil Ouach bt Ymad Atrous
Welterweight
Nouredine Samir bt Marlon Ribeiro
Super welterweight
Brad Stanton bt Mohamed El Boukhari
MATCH INFO
Uefa Champions League semi-final, second leg result:
Ajax 2-3 Tottenham
Tottenham advance on away goals rule after tie ends 3-3 on aggregate
Final: June 1, Madrid
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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.”
How Alia's experiment will help humans get to Mars
Alia’s winning experiment examined how genes might change under the stresses caused by being in space, such as cosmic radiation and microgravity.
Her samples were placed in a machine on board the International Space Station. called a miniPCR thermal cycler, which can copy DNA multiple times.
After the samples were examined on return to Earth, scientists were able to successfully detect changes caused by being in space in the way DNA transmits instructions through proteins and other molecules in living organisms.
Although Alia’s samples were taken from nematode worms, the results have much bigger long term applications, especially for human space flight and long term missions, such as to Mars.
It also means that the first DNA experiments using human genomes can now be carried out on the ISS.
Abu Dhabi card
5pm: Handicap (TB) Dh100,000 2,400m
5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 2,200m
6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000 1,400m
6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000 1,400m
7pm: Handicap (PA) Dh85,000 1,600m
7.30pm: Maiden (PA) Dh80,000 1,600m
The National selections:
5pm: Valcartier
5.30pm: AF Taraha
6pm: Dhafra
6.30pm: Maqam
7pm: AF Mekhbat
7.30pm: Ezz Al Rawasi
Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
The biog
Simon Nadim has completed 7,000 dives.
The hardest dive in the UAE is the German U-boat 110m down off the Fujairah coast.
As a child, he loved the documentaries of Jacques Cousteau
He also led a team that discovered the long-lost portion of the Ines oil tanker.
If you are interested in diving, he runs the XR Hub Dive Centre in Fujairah
The specs
Engine: 6.2-litre supercharged V8
Power: 712hp at 6,100rpm
Torque: 881Nm at 4,800rpm
Transmission: 8-speed auto
Fuel consumption: 19.6 l/100km
Price: Dh380,000
On sale: now
Key findings
- Over a period of seven years, a team of scientists analysed dietary data from 50,000 North American adults.
- Eating one or two meals a day was associated with a relative decrease in BMI, compared with three meals. Snacks count as a meal. Likewise, participants who ate more than three meals a day experienced an increase in BMI: the more meals a day, the greater the increase.
- People who ate breakfast experienced a relative decrease in their BMI compared with “breakfast-skippers”.
- Those who turned the eating day on its head to make breakfast the biggest meal of the day, did even better.
- But scrapping dinner altogether gave the best results. The study found that the BMI of subjects who had a long overnight fast (of 18 hours or more) decreased when compared even with those who had a medium overnight fast, of between 12 and 17 hours.
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
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.
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
UAE currency: the story behind the money in your pockets
TOUCH RULES
Touch is derived from rugby league. Teams consist of up to 14 players with a maximum of six on the field at any time.
Teams can make as many substitutions as they want during the 40 minute matches.
Similar to rugby league, the attacking team has six attempts - or touches - before possession changes over.
A touch is any contact between the player with the ball and a defender, and must be with minimum force.
After a touch the player performs a “roll-ball” - similar to the play-the-ball in league - stepping over or rolling the ball between the feet.
At the roll-ball, the defenders have to retreat a minimum of five metres.
A touchdown is scored when an attacking player places the ball on or over the score-line.
Muslim Council of Elders condemns terrorism on religious sites
The Muslim Council of Elders has strongly condemned the criminal attacks on religious sites in Britain.
It firmly rejected “acts of terrorism, which constitute a flagrant violation of the sanctity of houses of worship”.
“Attacking places of worship is a form of terrorism and extremism that threatens peace and stability within societies,” it said.
The council also warned against the rise of hate speech, racism, extremism and Islamophobia. It urged the international community to join efforts to promote tolerance and peaceful coexistence.
Adele: The Stories Behind The Songs
Caroline Sullivan
Carlton Books
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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if you go
The flights
Fly direct to Kutaisi with Flydubai from Dh925 return, including taxes. The flight takes 3.5 hours. From there, Svaneti is a four-hour drive. The driving time from Tbilisi is eight hours.
The trip
The cost of the Svaneti trip is US$2,000 (Dh7,345) for 10 days, including food, guiding, accommodation and transfers from and to Tbilisi or Kutaisi. This summer the TCT is also offering a 5-day hike in Armenia for $1,200 (Dh4,407) per person. For further information, visit www.transcaucasiantrail.org/en/hike/
Film: In Syria
Dir: Philippe Van Leeuw
Starring: Hiam Abbass, Diamand Bo Abboud, Mohsen Abbas and Juliette Navis
Verdict: Four stars
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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