• Barcelona coach Ronald Koeman during the defeat against Raya Vallecano, after which he was fired. Reuters
    Barcelona coach Ronald Koeman during the defeat against Raya Vallecano, after which he was fired. Reuters
  • Barcelona's Dutch coach Ronald Koeman reacts during the Spanish League football match between Rayo Vallecano de Madrid and FC Barcelona at the Vallecas stadium in Madrid on October 27, 2021. (Photo by OSCAR DEL POZO / AFP)
    Barcelona's Dutch coach Ronald Koeman reacts during the Spanish League football match between Rayo Vallecano de Madrid and FC Barcelona at the Vallecas stadium in Madrid on October 27, 2021. (Photo by OSCAR DEL POZO / AFP)
  • Rayo Vallecano supporters cheer as Barcelona's Dutch coach Ronald Koeman and players leave the pitch. AFP
    Rayo Vallecano supporters cheer as Barcelona's Dutch coach Ronald Koeman and players leave the pitch. AFP
  • Ronald Koeman and his staff members before the La Liga match. EPA
    Ronald Koeman and his staff members before the La Liga match. EPA
  • Barcelona's head coach Ronald Koeman heads back down the tunnel at half time during a Spanish La Liga soccer match between Rayo Vallecano and FC Barcelona at the Vallecas stadium in Madrid, Spain, Wednesday, Oct. 27, 2021. (AP Photo / Manu Fernandez)
    Barcelona's head coach Ronald Koeman heads back down the tunnel at half time during a Spanish La Liga soccer match between Rayo Vallecano and FC Barcelona at the Vallecas stadium in Madrid, Spain, Wednesday, Oct. 27, 2021. (AP Photo / Manu Fernandez)
  • Barcelona's goalkeeper Marc-Andre ter Stegen fails to save the ball as Rayo's Radamel Falcao scores the winning goal. AP
    Barcelona's goalkeeper Marc-Andre ter Stegen fails to save the ball as Rayo's Radamel Falcao scores the winning goal. AP
  • Rayo's Radamel Falcao celebrates after scoring. EPA
    Rayo's Radamel Falcao celebrates after scoring. EPA

Sport

Football

Ronald Koeman sacked after Barcelona lose at Rayo Vallecano

Dismissal follows Barca's fourth defeat in six matches

The National

October 27, 2021

  • English
  • Arabic

Barcelona have sacked first-team coach Ronald Koeman after Wednesday’s defeat to Rayo Vallecano.

Koeman, 58, was under pressure after his side lost to Real Madrid at the weekend and this latest loss, the fourth in Barca's past six matches, proved the final straw for the board.

Barca are six points off La Liga leaders Real Madrid in ninth place.

Former midfielder Xavi Hernandez, currently in charge of Qatari club Al Sadd, and River Plate coach Marcel Gallardo are reportedly among those under consideration to take over.

“FC Barcelona has relieved Ronald Koeman of his duties as first-team coach,” the club said after a fifth loss in all competitions this term.

“The president of the club, Joan Laporta, informed him of the decision after the defeat against Rayo Vallecano. Ronald Koeman will say goodbye to the squad on Thursday at the Ciutat Esportiva.

“FC Barcelona wishes to thank him for his service to the club and wishes him all the best in his professional career.”

Koeman had a huge amount of success as a player at Camp Nou, winning four La Liga titles and the European Cup during a trophy-laden spell at the start of the 1990s.

The lure of returning to his old club proved too strong back in August 2020 as the Dutchman left his post as Holland boss to complete a shock return.

An up-and-down first campaign saw Barca win the Copa del Rey but ended in disappointing fashion as they finished third in La Liga, having also lost heavily to Paris Saint-Germain in the Champions League last-16 stage.

With the club’s financial situation causing problems, Koeman could only watch on as Lionel Messi departed after he was unable to sign a new deal due to the continuing problems off the pitch.

A poor start to their Champions League campaign where they suffered defeats to Bayern Munich and Benfica increased the scrutiny on the former Everton boss, who then saw their La Liga form drop off.

Three defeats in four league games with the last a 1-0 loss at Rayo Vallecano saw Koeman’s time end with only one year left on his terms.

Memphis Depay missed a penalty in Wednesday’s reverse on the road which went the way of the home side thanks to a Radamel Falcao goal.

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He became the first Emirati to climb Mount Everest in 2011, from the south section in Nepal

He ascended Mount Everest the next year from the more treacherous north Tibetan side

By 2015, he had completed the Explorers Grand Slam

Last year, he conquered K2, the world’s second-highest mountain located on the Pakistan-Chinese border

He carries dried camel meat, dried dates and a wheat mixture for the final summit push

His new goal is to climb 14 peaks that are more than 8,000 metres above sea level

Cultural fiesta

What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421,  Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day. 

While you're here

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.”

While you're here
On Women's Day
More from Neighbourhood Watch
Other IPL batting records

Most sixes: 292 – Chris Gayle

Most fours: 491 – Gautam Gambhir

Highest individual score: 175 not out – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Highest strike-rate: 177.29 – Andre Russell

Highest strike-rate in an innings: 422.22 – Chris Morris (for Delhi Daredevils against Rising Pune Supergiant in 2017)

Highest average: 52.16 – Vijay Shankar

Most centuries: 6 – Chris Gayle

Most fifties: 36 – Gautam Gambhir

Fastest hundred (balls faced): 30 – Chris Gayle (for Royal Challengers Bangalore against Pune Warriors in 2013)

Fastest fifty (balls faced): 14 – Lokesh Rahul (for Kings XI Punjab against Delhi Daredevils in 2018)

 

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What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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Updated: October 28, 2021, 8:55 AM
Barcelona