Chelsea new boy Aubameyang: 'I have unfinished business in the Premier League'

Pierre-Emerick Aubameyang warned he has "unfinished business" in the Premier League after signing for Chelsea in a deal worth a reported £10.3 million in transfer fees.

The Blues were one of the more active clubs before Thursday's transfer deadline day, also secured the services of Juventus midfielder Denis Zakaria on loan for the remainder of the campaign.

Left-back Marcos Alonso terminated his Chelsea contract by mutual consent and is expected to sign for Barcelona.

Aubameyang said: 'I'm really happy. It's an honour to be part of this team and I can't wait to start. I have some unfinished business with the Premier League so it's good to be back and really exciting.'

The Gabon striker, 33, suffered a minor fracture of his jaw following an attack at his home in Catalunya over the weekend and is expected be out for up to three weeks while he recovers, though that did not deter Chelsea in their pursuit of the player.

The move sees Aubameyang reunited with Chelsea boss Thomas Tuchel following their time together at Borussia Dortmund, where they won the German Cup in 2017.

He scored 79 goals in 95 games under the German, 38 more than he netted under any other manager.

Chelsea spent lavishly this summer, laying out over £270 million on players, including Wesley Fofana, Marc Cucurella, Raheem Sterling and Kalidou Koulibaly.

Aubameyang's arrival means Chelsea have an elite-level centre-forward on their books and helps fill the void following the departure of Romelu Lukaku on a season-long loan to Inter Milan and Timo Werner's return to RB Leipzig.

It also marks a quick return to the Premier League for Aubameyang. The striker spent four years at Arsenal before joining Barcelona in January 2022 after his contract with the Gunners was terminated by mutual agreement.

He finished joint-top scorer at Barca last season on 13 goals but has been usurped as first-choice this campaign with the arrival of Robert Lewandowski from Bayern Munich.

Chelsea chairman Todd Boehly said: "Pierre-Emerick is an elite striker with a proven track record in the Premier League and his arrival strengthens our squad, giving us new attacking options. We are thrilled to have Pierre-Emerick on board with us in the new era at Chelsea and we're really looking forward to working with him."

Alonso, 31, has been a long-term target of Barca's and would be a direct replacement for Jordi Alba, who agreed terms on a season-long loan to Inter Milan.

The Spain international won six major honours, including the Premier League, Champions League and Club World Cup, scoring 29 times and assisting 23 more in 212 games.

His father Marcos Alonso Pena – known as Marcos – was a Barcelona player who won the title under Terry Venables in 1985 and played alongside stars such as Diego Maradona and Gary Lineker.

150 of the biggest summer transfers

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

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MATCH INFO

Arsenal 1 (Aubameyang 12’) Liverpool 1 (Minamino 73’)

Arsenal win 5-4 on penalties

Man of the Match: Ainsley Maitland-Niles (Arsenal)

Key findings of Jenkins report

Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."

UAE currency: the story behind the money in your pockets

Match info

Manchester United 1
Fred (18')

Wolves 1
Moutinho (53')

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.”

Know before you go

Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
If you’re driving, make sure your insurance covers Oman.
By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.