It is the season of T20 leagues and the next big franchise bandwagon gearing up to enthral fans is the Pakistan Super League.
January saw the start of two high-profile tournaments – the International League T20 and the South Africa T20 tournament called the SA20. The Big Bash League in Australia is also ongoing, as is the Bangladesh Premier League. In short, there is franchise cricket happening everywhere.
Next month, it’s the turn of Pakistan to turn on their T20 charm. Their hugely successful PSL returns on February 13, with 2022 finalists Lahore Qalandars and Multan Sultans clashing in the opener in Multan.
Last year, Lahore defeated Multan by 42 runs at home to lift the PSL title, marking the rise of fast bowler and team captain Shaheen Afridi as the premier cricketer in the country.
This year, some of the top names in franchise cricket will once again travel to Pakistan to fight for the top prize.
The top players in the PSL get picked through a draft, which means there is a cap on how much they can earn. The Platinum category is the top tier where players can earn up to $170,000 with a base price of $130,000.
Highest paid cricketers at PSL 2023
Babar Azam (Peshawar Zalmi): up to $170,000*
Shaheen Afridi (Lahore Qalandars): $170,000
Mohammad Rizwan (Multan Sultans): $170,000
Shadab Khan (Islamabad United): $170,000
Sam Billings (Lahore Qalandars): $170,000
Tymal Mills (Islamabad United): $170,000
Haider Ali (Karachi Kings): $170,000
Matthew Wade (Karachi Kings): $170,000
Imran Tahir (Karachi Kings): $170,000
Fakhar Zaman (Lahore Qalandars): $170,000
Izharulhaq Naveed (Multan Sultans): $170,000
Gus Atkinson (Islamabad United): $170,000
Josh Little (Multan Sultans): $170,000
Bhanuka Rajapaksa (Peshawar Zalmi): $170,000
Richard Gleeson (Peshawar Zalmi): $170,000
Mohammad Nawaz (Quetta Gladiators): $170,000
Naseem Shah (Quetta Gladiators): $170,000
*All platinum category players receive a salary within the range of $130,000 to $170,000.
Note: Platinum category players like Wanindu Hasaranga, Rovman Powell, David Miller, Alex Hales, Rahmanullah Gurbaz and Rashid Khan are only partially available for the tournament and will be paid on pro rata basis.
Tournament dates
The 2023 PSL begins on February 13 and the final will be held on March 19, with a total of 34 matches to be played.
Venues
Matches will be played in Karachi, Lahore, Rawalpindi and Multan.
PSL 2022 Team of the Tournament
Rajasthan Royals 153-5 (17.5 ov)
Delhi Daredevils 60-4 (6 ov)
Rajasthan won by 10 runs (D/L method)
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Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
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.”
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE
Mohammed bin Zayed Majlis
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World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m