Manchester United manager Louis van Gaal said Wednesday goalkeeper Victor Valdes is to be sold after “refusing to play” for the club’s second team.
Van Gaal said former Barcelona keeper Valdes, who only signed for United in January, faced an early end to his Old Trafford career after failing to follow the club’s philosophy.
“When you are not willing to follow the principles of the philosophy, there is only one way, and that is out,” van Gaal said at a press conference to unveil United’s new signings at the start of their US tour.
Valdes, whose signing in January was widely seen as a pre-emptive move ahead of the likely departure of first choice goalkeeper David De Gea, was surprisingly not included in the squad which arrived in Seattle on Monday.
Van Gaal revealed the 33-year-old Spanish international had not travelled because “he does not follow my philosophy.”
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“The philosophy is how you play football and how you maintain your match rhythm,” the Dutchman said.
“For example, he refused last year to play in the second team. That is one aspect of our philosophy but there are a lot of others for how you have to play like a goalkeeper for Manchester United.”
Asked if that meant United planned to sell Valdes, van Gaal replied: “Yes.”
Valdes was invited to train with United in October 2014 as he sought to work his way back to fitness from a knee injury.
He signed in January and made his first start in the final game of the season against Hull, keeping a clean sheet.
Van Gaal admitted he was dismayed that Valdes’s fleeting career at the Premier League giants was coming to a premature end.
“For us it is a big disappointment,” he said.
“We thought he will follow our philosophy but it is a pity because we have given an opportunity to rehabilitate and then we gave a contract and then when he is fit to play and when you are not playing in the first selection you have to play in the second selection. He refused that.”
Van Gaal suggested he had made the decision to sell Valdes before the end of the season, claiming the goalkeeper had only been selected to face Hull in May to put him in the shop window.
“I want to help him and that he can show his qualities for another club,” van Gaal said. “I am always a very social human being.”
United open their International Champions Cup campaign against Mexico’s Club America in Seattle on Friday.
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Game Changer
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COMPANY PROFILE
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
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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 to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Killing of Qassem Suleimani
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Killing of Qassem Suleimani
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.
