As the US appetite for football – or, as they call it, soccer – grows, more American kids are harbouring dreams of becoming the next David Beckham or Leo Messi. Their aspirations, realistic or not, have not gone unnoticed by top European clubs, who are trying to capitalise financially.
The likes of Barcelona, Liverpool and Arsenal have long sent coaches to work at US summer camps, but now some are opening year-round US academies aimed at finding new talent while also expanding their fan bases and revenue opportunities in the states. Later this month, Barcelona will open FCB Escola Florida, their first permanent US academy, in Fort Lauderdale. Argentina’s Boca Juniors and Everton are already operating in New York and Connecticut, respectively. Other teams are expected to follow.
The expansion of such programs is part of a bigger trend, as major international clubs try to grow their brands in the US to battle for the hearts and pocketbooks of Americans today and in decades to come. Building an international fan base is becoming important for the top clubs, who derive a large chunk of their revenue from overseas broadcasting and merchandising.
“If you can engage kids when they are young, then they will stay with you for the rest of their lives,” says Simon Chadwick, a sports economist at England’s University of Coventry.
The US football audience is reaching new heights, with this summer’s World Cup setting ratings records. NBC is paying US$250 million (Dh918.2m) to broadcast the English Premier League. A record crowd of 109,318 packed Michigan Stadium on August 2 to see an exhibition match between Manchester United and Real Madrid. Major League Soccer is averaging more than 18,000 per game, just off its 2012 high.
When teams started opening schools around the world back in the 1990s, their early impulse was to scout and develop players. Now, their main goal is to build their brand, says Simon Kuper, the author of several books on the economics of sports.
One of the first overseas academies was launched in 1999 by Ajax in Cape Town, South Africa. The club say it produced an average of seven pro players a year. A handful of them have made it to European leagues.
Barcelona chose South Florida for their first US academy and their 12th worldwide. Over 600 boys and girls attended tryouts in May, some coming from other states and countries, like Haiti, Venezuela and Canada, to vie for 384 spots. The winners will pay $3,000 annually to attend the academy, which does not include room, board or schooling. Some parents say they will move their family to South Florida if their child is picked.
Marcel Bombonato, the managing director of Kaptiva Sports, official partner of FC Barcelona in the US, says scouting is one of the goals. But beyond teaching football, the club wants to convert children into Barcelona fans.
Some 3,200 children attended seven footballing camps held this summer by Barcelona across the eastern US. Each day they listened to the team’s “Cant del Barca,” and at a recent Miami camp most of the 245 children clad in Barcelona colours clapped their hands and chanted the chorus, “Barca, Barca, Barca.”
Many parents see these programs as an opportunity for their children to showcase their talents and hopefully be recruited for the team’s La Masia academy. Messi left Argentina for Spain at the age of 13 after being discovered by a Barcelona scout.
Ali Rafique brought his 6-year-old son Toby to the camp in Miami from Dallas. Toby trains more than 20 hours per week between his practices with a personal coach and the Dallas Texans Under-7 team. He wants to eventually play for Barcelona.
“I am gonna work hard to make his dream come true,” said his father.
Boca Juniors, known as one of the largest exporters of players to the leagues in Europe, opened their academy in Long Island, New York, in March. The club are still recruiting 200 boys and girls aged 4 to 23.
Mariano Berenstein, the CEO of Boca Juniors in the US, says that unlike other international teams, Boca Juniors is concerned with developing local talent, rather than just monetising the brand. He said that other teams promise young children that they have a chance to play at their home-based academies and advance up to the main team. Instead, Boca Juniors wants to build an American version with the hope that the most talented players would play in MLS.
We will not make “empty promises” to players, Berenstein says.
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The specs: 2017 Dodge Ram 1500 Laramie Longhorn
Price, base / as tested: Dhxxx
Engine: 5.7L V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 556Nm @ 3,950rpm
Fuel economy, combined: 12.7L / 100km
Other workplace saving schemes
- The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
- Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
- National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
- In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
- Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
UAE currency: the story behind the money in your pockets
%E2%80%98White%20Elephant%E2%80%99
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'Spies in Disguise'
Director: Nick Bruno and Troy Quane
Stars: Will Smith, Tom Holland, Karen Gillan and Roshida Jones
Rating: 4 out of 5 stars
UAE WARRIORS RESULTS
Featherweight
Azouz Anwar (EGY) beat Marcelo Pontes (BRA)
TKO round 2
Catchweight 90kg
Moustafa Rashid Nada (KSA) beat Imad Al Howayeck (LEB)
Split points decision
Welterweight
Gimbat Ismailov (RUS) beat Mohammed Al Khatib (JOR)
TKO round 1
Flyweight (women)
Lucie Bertaud (FRA) beat Kelig Pinson (BEL)
Unanimous points decision
Lightweight
Alexandru Chitoran (ROU) beat Regelo Enumerables Jr (PHI)
TKO round 1
Catchweight 100kg
Marc Vleiger (NED) beat Mohamed Ali (EGY)
Rear neck choke round 1
Featherweight
James Bishop (NZ) beat Mark Valerio (PHI)
TKO round 2
Welterweight
Abdelghani Saber (EGY) beat Gerson Carvalho (BRA)
TKO round 1
Middleweight
Bakhtiyar Abbasov (AZE) beat Igor Litoshik (BLR)
Unanimous points decision
Bantamweight
Fabio Mello (BRA) beat Mark Alcoba (PHI)
Unanimous points decision
Welterweight
Ahmed Labban (LEB) v Magomedsultan Magomedsultanov (RUS)
TKO round 1
Bantamweight
Trent Girdham (AUS) beat Jayson Margallo (PHI)
TKO round 3
Lightweight
Usman Nurmagomedov (RUS) beat Roman Golovinov (UKR)
TKO round 1
Middleweight
Tarek Suleiman (SYR) beat Steve Kennedy (AUS)
Submission round 2
Lightweight
Dan Moret (USA) v Anton Kuivanen (FIN)
TKO round 2
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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.”
MATCH INFO
World Cup qualifier
Thailand 2 (Dangda 26', Panya 51')
UAE 1 (Mabkhout 45 2')
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yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
If you go
The flights
There are direct flights from Dubai to Sofia with FlyDubai (www.flydubai.com) and Wizz Air (www.wizzair.com), from Dh1,164 and Dh822 return including taxes, respectively.
The trip
Plovdiv is 150km from Sofia, with an hourly bus service taking around 2 hours and costing $16 (Dh58). The Rhodopes can be reached from Sofia in between 2-4hours.
The trip was organised by Bulguides (www.bulguides.com), which organises guided trips throughout Bulgaria. Guiding, accommodation, food and transfers from Plovdiv to the mountains and back costs around 170 USD for a four-day, three-night trip.
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The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
HER%20FIRST%20PALESTINIAN
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Tips to stay safe during hot weather
- Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
- Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
- Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
- Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
- Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
- Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
- Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
The%20team
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Book%20Details
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