Chelsea have announced the appointment of Graham Potter as their new manager on a five-year contract.
Potter, who joins the Blues less than 48 hours after the sacking of manager Thomas Tuchel, guided Brighton to their highest finish of ninth in the Premier League last season.
Potter said: “I am incredibly proud and excited to represent Chelsea FC, this fantastic football club.
“I am very excited to partner with Chelsea’s new ownership group and look forward to meeting and working with the exciting group of players and to develop a team and culture that our amazing fans can be proud of.
“I would also like to place my sincere thanks to Brighton & Hove Albion for allowing me this opportunity.”
New Chelsea owner Todd Boehly believes Potter fits his vision for the future at Stamford Bridge.
“We are thrilled to bring Graham to Chelsea. He is a proven coach and an innovator in the Premier League who fits our vision for the club,” Boehly said.
“Not only is he extremely talented on the pitch, he has skills and capabilities that extend beyond the pitch which will make Chelsea a more successful club.
“He has had a major impact at his previous clubs and we look forward to his positive impact at Chelsea. We look forward to supporting him, his coaching team and the squad in realising their full potential in the coming months and years.”
Potter leaves Brighton after making another impressive start to the season.
The Seagulls sit fourth in the Premier League having won four and drawn one of their first six matches, despite the big-money sales of Yves Bissouma and Marc Cucurella over the summer.
Chairman Tony Bloom said: “I am very disappointed that Graham will be leaving us. He has done exceptionally well over the past three-and-a-bit seasons, he is an exceptional head coach and an exceptional person. He will be hugely missed at our football club.
“He leaves an excellent legacy for his successor with the club in its highest ever position, and on the back of leading us to our highest finish in the club’s history last season.”
Dinamo Zagreb v Chelsea - player ratings
Brighton Under-21s coach Andrew Crofts will lead the first team as interim head coach.
Potter’s first game in charge of Chelsea will be Saturday’s Premier League trip to Fulham.
Chelsea are understood to have made initial contact with Mauricio Pochettino and Sporting Lisbon boss Ruben Amorim, as well as considering Zinedine Zidane and even Leicester’s Brendan Rodgers.
But Potter was always considered the top target of the club’s new board.
Tuchel was sacked by Chelsea on Wednesday morning, amid mounting discord with the new board and growing issues with the players.
Former Paris St Germain coach Tuchel led Chelsea to the 2021 Champions League title, then the 2022 Club World Cup crown.
But the German paid the price for disharmony with the Blues’ new owners, who were left feeling unable to see Tuchel at the centre of their revamp.
Potter is understood to have asked for assurances about the new Chelsea owners’ plans to fashion a set-up for managers to make long-term plans that they then actually also carry out.
The former Swansea boss was impressed with what he heard in face-to-face meetings, paving the way for the deal to be wrapped up quickly.
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
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.”
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
FIXTURES
All times UAE ( 4 GMT)
Friday
Saint-Etienne v Montpellier (10.45pm)
Saturday
Monaco v Caen (7pm)
Amiens v Bordeaux (10pm)
Angers v Toulouse (10pm)
Metz v Dijon (10pm)
Nantes v Guingamp (10pm)
Rennes v Lille (10pm)
Sunday
Nice v Strasbourg (5pm)
Troyes v Lyon (7pm)
Marseille v Paris Saint-Germain (11pm)
Miss Granny
Director: Joyce Bernal
Starring: Sarah Geronimo, James Reid, Xian Lim, Nova Villa
3/5
(Tagalog with Eng/Ar subtitles)
Q&A with Dash Berlin
Welcome back. What was it like to return to RAK and to play for fans out here again?
It’s an amazing feeling to be back in the passionate UAE again. Seeing the fans having a great time that is what it’s all about.
You're currently touring the globe as part of your Legends of the Feels Tour. How important is it to you to include the Middle East in the schedule?
The tour is doing really well and is extensive and intensive at the same time travelling all over the globe. My Middle Eastern fans are very dear to me, it’s good to be back.
You mix tracks that people know and love, but you also have a visually impressive set too (graphics etc). Is that the secret recipe to Dash Berlin's live gigs?
People enjoying the combination of the music and visuals are the key factor in the success of the Legends Of The Feel tour 2018.
Have you had some time to explore Ras al Khaimah too? If so, what have you been up to?
Coming fresh out of Las Vegas where I continue my 7th annual year DJ residency at Marquee, I decided it was a perfect moment to catch some sun rays and enjoy the warm hospitality of Bab Al Bahr.
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Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
