The Boston Celtics crashed when they should have crested.
Their lopsided loss at home this past week to the Cleveland Cavaliers may have cost them their best chance at, shockingly, unseating the Cavaliers as the No 1 seed in the Eastern Conference play-offs, which begin next week.
But if observers were wondering how the Celtics could have fallen so flat in such a big game, there remained a bigger-picture question: how could Boston, a team that has landed neither a superstar free agent nor drafted a franchise-saving player this decade, even have been tied for first place with the defending champion Cavaliers, a team centred around two of the game’s most transformative No 1 overall picks of the last 15 years, LeBron James and Kyrie Irving?
The answer is as simple as it gets: smart personnel moves and a smart coaching hire. That answer also should embarrass organisations that take the cynical approach to rebuilding: deliberately sinking to the bottom of the standings to secure high draft picks.
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The problem with “tanking,” as the Philadelphia 76ers and more recently the Los Angeles Lakers have discovered is, there is no guarantee that those No 1, 2 or 3 overall draft picks will actually become bona fide centrepieces of a championship-calibre team.
Losing by design also puts fan bases into a deep sleep.
Interestingly, the Celtics and Lakers were in similar places by the end of the 2012 season. Both had come off five-year runs at or near the top of their respective conferences, both enjoying championships and multiple, deep postseason runs.
Boston set plans for the future by trading ageing stars Paul Pierce and Kevin Garnett, and letting coach Doc Rivers move on to the Los Angeles Clippers, a more immediately promising situation.
They hired a young, successful college coach, Brad Stevens, who brought with him an innovative approach, revolving around quick shots, offensive rebounding, team depth and players committed to gritty defence.
General Manager Danny Ainge took on role players to fit the system. They also got lucky when they traded for self-assured, but undersized point guard Isaiah Thomas, who was buried on the Phoenix Suns bench. Thomas has evolved into their a true star, a relentless attacker who leads the NBA in fourth-quarter scoring.
Meanwhile, the Lakers slowly went down with the Kobe Bryant ship. There was an ill-fated, one-year, bad-fit experiment with Dwight Howard as Bryant’s sidekick. They also extended an ageing Bryant with a two-year, US$48 million (Dh176.3m) extension that kept him on through 2016, despite the team’s decline and Bryant’s obvious, physical deterioration.
While the Lakers became irrelevant, the Celtics found new life. Boston have not yet won a play-off series under Stevens, but their participation in the upcoming postseason will be their fourth in five seasons with the coach.
By making themselves competitive again, Boston also put themselves on the radar of upper-tier free agents.
Whether Kevin Durant seriously considered the Celtics before signing with the Golden State Warriors last summer is debatable, but Durant did meet with them. And Boston did sign a key free agent, centre Al Horford, away from the conference-rival Atlanta Hawks.
Importantly, the Celtics still own attractive future draft picks, including one from the Brooklyn Nets (Garnett-Pierce trade) that guarantees them a top three choice this spring.
Boston still may not have enough talent to dethrone Cleveland, or overtake the best teams in the West. But they are in significantly better shape now than they were five years ago, when they wisely dismantled their beloved, but post-prime, championship core.
Best of all, for their fans, they never sank, nor tanked, to the bottom. Not even close.
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SPECS
Nissan 370z Nismo
Engine: 3.7-litre V6
Transmission: seven-speed automatic
Power: 363hp
Torque: 560Nm
Price: Dh184,500
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
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.”
Director: Laxman Utekar
Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna
Rating: 1/5
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
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Price: From Dh147,000
Available: Now
UAE currency: the story behind the money in your pockets
Chelsea 2 Burnley 3
Chelsea Morata (69'), Luiz (88')
Burnley Vokes (24', 43'), Ward (39')
Red cards Cahill, Fabregas (Chelsea)
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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UAE currency: the story behind the money in your pockets