On Friday night, Manchester City take on Real Madrid in their much-delayed return fixture in the Uefa Champions League, European football's most prestigious competition. The contest is the sort of match everyone associated with City dreamt about when the club was bought by Abu Dhabi United Group in 2008.
Madrid are the most successful side in the history of the Champions League. City, famously, have been unable to match their recent domestic success with a European crown.
Maybe this year, the strangest of them all, is the one to end City's 50-year pursuit of a second European trophy, following their success in the 1970 European Cup Winners’ Cup on a rainy night in Vienna.
Maybe it's not, although those who support the club, including me, know that whatever happens on Friday, City will be back next season after overturning a ban on competing in European football, which had been imposed by Uefa in February.
Manchester City's Sergio Aguero and David Silva celebrate winning the FA Community Shield with teammates. Reuters
Last month the club's tough stance over alleged breaches of Financial Fair Play regulations and licensing was vindicated by the Court of Arbitration for Sport, which threw out a proposed two-year ban and significantly reduced a fine that had been levied for reportedly not co-operating. Earlier this year, chief executive Ferran Soriano said that the allegations were "simply not true". He has been proved right.
The publication of the full CAS report a few days ago unleashed a torrent of partisan commentary on its findings.
Those who dislike City say that the club have somehow got away with it, while those who support the club point to the report's conclusions that the two key allegations were for the most part “not established” and in some cases “time barred”. In essence, a weak case fell apart under scrutiny from an independent body.
The burden for proving the offences always rested with Uefa, who made the rules in the first place and who prosecuted the case. And yet, some of the commentary on the report would lead you to think the verdict delivered a different outcome.
Jurgen Klopp, Liverpool's manager, said it was a “not a good day for football” when asked about the CAS verdict last month. On Sunday, Oliver Kahn, a Bayern Munich board member, said that FFP should be taken “more seriously” in the future, appearing to suggest that a Uefa-run process and a subsequent appeal to an independent body was not sufficient. Others joined the chorus line of critics.
Phil Foden, left, with Manchester City manager Pep Guardiola after being named man of the match in the League Cup final win over Aston Villa at Wembley Stadium in March. EPA
Manchester City's Taylor Harwood-Bellis during the Premier League Asia Trophy football tournament at the Hongkou Stadium in Shanghai, in July, 2019. AFP
Manchester City's Tommy Doyle during their League Cup win over Southampton at the Etihad Stadium in October, 2019. PA
Eric Garcia of Manchester City during the Premier League match against Watford at Etihad Stadium on September 21, 2019. Getty
Manchester City's Brahim Diaz during a League Cup quarter-final match against Leicester City on December 18, 2018. Diaz joined Spanish club Real Madrid in the summer of 2019. Reuters
Manchester City's Pablo Maffeo, right, in action against Celtic in the Champions League group stage match at the Etihad Stadium on December 6, 2016. Maffeo joined Italian side Girona in 2018. Reuters
Manchester City's Jadon Sancho, right, during the FA Youth Cup final first leg against Chelsea at The Academy Stadium on April 18, 2017. Sancho joined German side Borussia Dortmund in the summer of 2017. Getty
Manchester City's Kelechi Iheanacho during a Premier League match against Crystal Palace on September 12, 2015. Iheanacho joined Leicester City in the summer of 2017. Getty
Manchester City’s Manu Garcia scores their fifth goal in a League Cup win over Crystal Palace in October, 2015. Garcia joined Sporting Gijon in the summer of 2019. AFP
Manchester City defender Angelino during the Premier League match against Watford at the Etihad Stadium on September 21, 2019. Angelino joined German side RB Leipzig on a loan deal in February. AFP
No wonder some City fans bristle with fury at such words, particularly when there are murky moments in many of the European elite's past, ranging from match-fixing scandals to tax evasion and serious incidents of crowd violence. Others have sins forgiven or forgotten, while City have not even had an apology.
But really this is not about a legal challenge, it is about a particular perspective.
Outsiders worry that success is assured for anyone in football with money to invest. That is a neat fantasy. The reality was that everything was broken at City before the takeover. The strategies that were developed to get the club back on its feet came with no guarantees.
The game’s established elite, meanwhile, jealously guard the gates to their kingdom against arrivistes.
Last week, the protracted takeover of Newcastle United by Saudi Arabia's Public Investment Fund, PCP Capital Partners and Reuben Brothers collapsed. The consortium had been waiting for months for clearance by the Premier League and apparently lost patience.
NEWCASTLE UNITED 2019/20 RATINGS: MANAGER: Steve Bruce - 6 out of 10: A really tough one to mark. Took on the thankless task of replacing the immensely popular Rafa Benitez in the hotseat with the hugely unpopular owner Mike Ashley still in charge. Ultimately, he did exactly what Ashley wants from his managers - he kept the club safely in the top-flight. He also steered Newcastle to their first FA Cup quarter-final since 2006. EPA
GOALKEEPERS: Martin Dubravka - 8: To say it's been a busy season for the Slovakian would be an understatement. Made the most saves out of any Premier League keeper - 140 - and without many of these stops, Newcastle would be heading back down to the Championship. A few blunders along the way, but to be expected when left exposed so regularly. Named as club's player of the year. AP
Karl Darlow - 6: Back-up restricted to cup competitions with Dubravka firmly established as No 1. AFP
DEFENDERS: Fabian Schar - 6: The versatile Swiss endured a miserable restart and struggled badly for any sort of consistency. Shifted into midfield by Bruce which failed to pay off, then saw his season ended by a dislocated shoulder. Getty
Florian Lejeune - 5: Another injury-ravaged, soul-destroying season for the French centre-half, managing just eight appearances in all competitions. AFP
Paul Dummett 5: Local lad and another defender whose season has been decimated by injury. Not played since January. AFP
Jamaal Lascelles - 6: Club captain will never give less than 100 per cent and Newcastle certainly felt more organised when he plays but can look slow and cumbersome at times - see lack of footwork for opening West Ham goal in home draw after restart. Could miss the start of next season after undergoing an ankle operation. AFP
Emil Krafth - 5: Swedish right-back looked completely unsuited for the rough and tumble world of England's top-flight after arriving in a £5 million (Dh23.6m) deal from French side Amiens last summer. Barely played for middle part of season but did OK when brought back into team after restart. Was completely out of his depth when forced to play in a central defensive role due to injuries. AFP
DeAndre Yedlin - 5: American full-back has started just 12 games in all competitions this season and looks set for the exit after four seasons at the club. AFP
Ciaran Clark - 6: Another injury-blighted season and another big miss at the back for Newcastle. Just 14 league appearances for the experienced Irish centre-half. AFP
Jetro Willems - 6: Wing-back on loan from Eintracht Frankfurt saw his time cruelly ended by a serious knee injury in January. Form had been erratic at times but had shown flashes of quality. AFP
Federico Fernandez - 7: The last fit senior centre-half still standing by the end of the season as his defensive colleagues fell to injuries one after the other. A solid season overall form the Argentine, particularly after restart. EPA
Javi Manquillo - 6: Spanish full-back has made himself an invaluable player for Newcastle this season - probably his best since joining the club in 2017 - covering ably down both flanks. Another shifted uncomfortably into a central defensive role due to the late season injury avalanche. Getty
Danny Rose - 6: Signed on loan from Spurs in January and has been solid if unspectacular. Newcastle desperately need a left-back and Jose Mourinho certainly doesn't want him at Tottenham, but at 30-years-old, he would appear to be too old for the Mike Ashley signing criteria. PA
Jonjo Shelvey - 8: A good season from the midfielder who, embarrassingly for Newcastle, finished as second-top scorer with six goals. A wonderful passer who also puts in a shift for the team. Getty
Allan Saint-Maximin - 8: A very exciting talent, signed for around £16m last summer, who stepped up a level after the restart. Can be virtually unplayable for opponents when in full flow but needs more consistency, more composure in front of goal and better final product if he wants to reach the very top. Immense potential, though. Getty
Matt Ritchie - 7: A frustrating season for the winger/wingback due to injury but a whole-hearted player who will always give 100 per cent. Ended his scoring drought with fine goal against Spurs after the restart. Getty
Isaac Hayden - 7: Newcastle always feel a stronger outfit with Hayden sitting in front of the defence winning tackles and keeping things simple with the ball. Getty
Christian Atsu - 5: Winger has barely featured under Bruce, barring sporadic substitute appearances, and is set to leave the club this summer. AFP
Valentino Lazaro - 5: A frustrating time for the January loan signing from Inter Milan who was never given a run in the team by Bruce. Flashes of potential - excellent goal after coming on as substitute in the 4-1 win at Bournemouth, when also cracked the crossbar with a fierce strike - but not clear what is the midfielder's best position. Getty
Sean Longstaff - 6: Another facing a crucial season in his career. Local boy who has struggled for form and fitness this season but has the potential to become a first-team regular. Getty
Nabil Bentaleb - 5: The former Spurs midfielder was a huge disappointment after joining on loan from German side Schalke in January. The odd flash of quality but did not do enough to justify a permanent move. Getty
Matty Longstaff - 6: The 20-year-old brother of Sean looks set for a move to Italy after refusing to sign a new deal at the club, much to the frustration of manager Bruce. Scored fairy-tale winner against Manchester United on his Premier League debut in October but failed to kick-on from that early high. PA
Miguel Almiron - 7: Pacey midfielder who finally ended his goal drought this season and finished as Newcastle's top scorer with eight. A big season coming up for the Paraguayan - his third in England - where, like Saint-Maximin, needs to show more composure with his final ball. Still unclear what his best position is. Reuters
ATTACKERS: Andy Carroll - 5: A frustrating return to Tyneside for the big striker. Like the story of his career as a whole, has been hindered by a series of niggling injuries and is still awaiting his first goal since rejoining last summer. Can feel rightly aggrieved, though, that he wasn't given more of a run as Bruce stuck by the misfiring Joelinton. Getty
Joelinton - 4: An absolute disaster of a first season in England for the club-record signing from Hoffenheim. Given the famous No 9 shirt but is clearly unsuited to lead the line. Four goals all season - and just two in the league in 32 starts - and needs a miraculous change in form and fortune if he join the list of Newcastle attacking greats. Getty
Dwight Gayle - 6: A prolific striker in the Championship who struggles to repeat the feat at the top level. Still looked a more natural finisher than Joelinton and contributed three goals after the restart. Getty
Yoshinori Muto - 4: A reminder that poor signings were made under Benitez's reign as well. The £9.5m signing in the summer of 2018 has made two league starts all season and scored one goal - against Leicester in the League Cup. AFP
In Europe's top leagues, Bayern Munich have won eight consecutive league titles in Germany, while Juventus have claimed nine in a row in Italy and Real Madrid and Barcelona have lifted 16 out of the past 17 Primera Liga titles
There are similarities in the ambitions of those who sought to buy Newcastle and those who have transformed City, in the sense that the prospective new owners talked about wholesale regeneration both on and off the pitch.
While one of the reasons cited for the failure of the takeover was a changing economic landscape – "time itself became an enemy of the transaction", a statement said in reference to the ongoing pandemic – the authorities have dragged their heels over the deal and now, without any end to the process in sight, it has become untenable. Tens of thousands of Newcastle supporters have signed a petition campaigning for the Premier League to be investigated over the takeover's collapse.
The reasons for its failure may be complicated, but there is also a sense that some of the top clubs in England don’t like the idea of another challenger to their crown. Just as in Europe, a few clubs would rather share the spoils among themselves.
In Europe’s top leagues, Bayern Munich have won eight consecutive league titles in Germany, while Juventus have claimed nine in a row in Italy and Real Madrid and Barcelona have lifted 16 out of the past 17 Primera Liga titles. At least one of those four clubs has appeared in 10 of the last 11 Champions League finals.
Jurgen Klopp, Liverpool's manager, has said it was a 'not a good day for football' when asked about the CAS verdict last month. AFP
English football has always enjoyed a more open playing field. Despite plenty of TV money flowing towards a few sides, four different clubs have won the Premier League in the past five years. Thirty years ago, when a breakaway division was first mooted in England, the so-called “big five” clubs sought to dominate talks and finance. Two of that group, Tottenham Hotspur and Everton, haven’t won a title in decades.
Unfortunately, suspicion and jealousy drive many of the partisan impulses in modern football. A willingness to invest and build is too often misinterpreted as a threat to the established order that must be beaten down, when ire and anger should really be directed at owners who run clubs into the ground. An intention to challenge the elite in Europe is met with similar impulses. Competition should be welcomed not driven out by procrastination or prosecution.
Nick March is an assistant editor-in-chief at The National
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
Director: Romany Saad Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari
England's all-time record goalscorers:
Wayne Rooney 53
Bobby Charlton 49
Gary Lineker 48
Jimmy Greaves 44
Michael Owen 40
Tom Finney 30
Nat Lofthouse 30
Alan Shearer 30
Viv Woodward 29
Frank Lampard 29
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
All matches at the Zayed Cricket Stadium, Abu Dhabi
Test series
1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March
Play starts at 9.30am
T20 series
1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March
TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
MATCH INFO
World Cup qualifier
Thailand 2 (Dangda 26', Panya 51')
UAE 1 (Mabkhout 45 2')
Benefits of first-time home buyers' scheme
Priority access to new homes from participating developers
Discounts on sales price of off-plan units
Flexible payment plans from developers
Mortgages with better interest rates, faster approval times and reduced fees
DLD registration fee can be paid through banks or credit cards at zero interest rates
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
RACE CARD
6.30pm: Baniyas Group 2 (PA) Dh 97,500 (Dirt) 1,400m.
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
February 2, 2018 Bodytree will host its 4th annual yoga market.
UAE insurance firm Al Wathba National Insurance Company (AWNIC) last year launched an e-commerce website with a facility enabling users to buy car wrecks.
Bidders and potential buyers register on the online salvage car auction portal to view vehicles, review condition reports, or arrange physical surveys, and then start bidding for motors they plan to restore or harvest for parts.
Physical salvage car auctions are a common method for insurers around the world to move on heavily damaged vehicles, but AWNIC is one of the few UAE insurers to offer such services online.
For cars and less sizeable items such as bicycles and furniture, Dubizzle is arguably the best-known marketplace for pre-loved.
Founded in 2005, in recent years it has been joined by a plethora of Facebook community pages for shifting used goods, including Abu Dhabi Marketplace, Flea Market UAE and Arabian Ranches Souq Market while sites such as The Luxury Closet and Riot deal largely in second-hand fashion.
At the high-end of the pre-used spectrum, resellers such as Timepiece360.ae, WatchBox Middle East and Watches Market Dubai deal in authenticated second-hand luxury timepieces from brands such as Rolex, Hublot and Tag Heuer, with a warranty.
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 bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
W.
Wael Kfoury
(Rotana)
The specs
Price, base / as tested Dh100,000 (estimate)
Engine 2.4L four-cylinder
Gearbox Nine-speed automatic
Power 184bhp at 6,400rpm
Torque 237Nm at 3,900rpm
Fuel economy, combined 9.4L/100km
Our family matters 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.”
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
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman