Abu Dhabi has further cemented its status as the home of the NBA in the Middle East by sealing a sponsorship deal with the New York Knicks.
The Knicks begin their 2024/25 season against the Boston Celtics on October 22, and will do so with the ‘Experience Abu Dhabi’ logo on their jerseys after a partnership was struck between owners Madison Square Garden Sports Corp (MSG Sports) and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi).
The deal sees DCT Abu Dhabi become the world famous NBA franchise's Official Patch Partner, with the Abu Dhabi logo appearing on all Knicks game jerseys for both home and away games, as well as warm-up jackets and shooting shirts.
The announcement comes just days after it was confirmed that Sphere Entertainment – a member of the MSG Sports Family of Companies – would be building a spectacular new entertainment venue in Abu Dhabi.
It was also confirmed on Thursday that DCT Abu Dhabi, MSG Sports and Sphere Entertainment had entered into a wider multi-year marketing partnership.
Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, said: “Our partnership with the New York Knicks and the MSG Family of Companies aligns with our mission to boost Abu Dhabi’s global visibility as part of our Tourism Strategy 2030.
“It also serves as an inspiration for our youth, connecting them to the world of professional sports and encouraging them to pursue their dreams with passion and dedication.”
Jamaal Lesane, Chief Operating Officer of MSG Sports, added: “These are significant, multifaceted marketing partnerships for both the MSG Family of Companies and DCT Abu Dhabi.
“These premier sports and entertainment assets in New York and Las Vegas are globally recognised brands, and we look forward to working with DCT Abu Dhabi as we continue to grow this relationship to reach audiences both domestically and internationally.”
The ‘Experience Abu Dhabi’ logo will feature on all Knicks jerseys sold at Madison Square Garden's in-arena locations and online shop.
As a global marketing partner, DCT Abu Dhabi can use the Knicks trademarks outside the US and Canada, expanding the team's brand presence in international markets. DCT Abu Dhabi will also have global rights to use Madison Square Garden trademarks.
‘Experience Abu Dhabi’ will become a significant presence at the MSG Family of Companies’ locations as an Official Partner of Madison Square Garden in New York, and an Official Partner of Sphere in Las Vegas.
This includes appearing on the Exosphere – the exterior of Sphere in Las Vegas – as well as on digital displays at MSG during concerts and shows. ‘Experience Abu Dhabi’ will also be featured across MSG Networks via pre, post, and in-game commercials for all Knicks games broadcast on the network, as well as in-game advertising and branded content.
These latest developments follow hot on the heels of a successful third staging of the NBA Abu Dhabi Games at the Etihad Arena on Yas Island, an event that has gone from strength to strength thanks to a multi-year deal between DCT Abu Dhabi and the NBA.
The last two NBA champions, the Boston Celtics and the Denver Nuggets, squared off in two preseason games last week, as part of a wider six-day visit that included a host of community events, clinics, grass roots initiatives and entertainment activations.
The UAE capital has established itself as a hub for world-class basketball in the region, having attracted top NBA teams, as well as national sides such as USA, Serbia and Australia, who have all come to Abu Dhabi to hold training camps and compete in exhibition games over the past two years.
NBA commissioner Adam Silver believes it is just the start for the league in this part of the world.
“We're particularly excited about, not just the opportunity here in Abu Dhabi, but the Gulf region generally,” Silver said during a round-table discussion at Etihad Arena last week.
“We're seeing rapid growth here, and it's our hope that we not only continue playing games here in Abu Dhabi, but we play in other countries in the Gulf region, and ultimately bring over WNBA games as well. That's something we'd like to see here.”
If you go
Flights
Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.
The stay
Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.
Dubai World Cup factbox
Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)
Most wins by a jockey: Jerry Bailey(4)
Most wins by an owner: Godolphin(9)
Most wins by a horse: Godolphin’s Thunder Snow(2)
Wenger's Arsenal reign in numbers
1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.
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.”
LILO & STITCH
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