Kylian Mbappe has one year remaining on his contract at PSG. AFP
Kylian Mbappe has one year remaining on his contract at PSG. AFP
Kylian Mbappe has one year remaining on his contract at PSG. AFP
Kylian Mbappe has one year remaining on his contract at PSG. AFP

Sport

Football

Kylian Mbappe told by PSG he 'must sign a new contract' to stay next season

Club president Nasser Al Khelaifi told reporters it was 'impossible' French champions would let player leave next year on a free transfer

Steve Luckings
Steve Luckings
Poissy, France, July 5, 2023 (AFP)

July 06, 2023

  • English
  • Arabic

Kylian Mbappe "must sign a new contract" if he wants to stay at Paris Saint-Germain, warned club president Nasser Al Khelaifi.

Speaking at Wednesday's press conference to announce Luis Enrique as the club's new head coach, Al Khelaifi said it was "impossible" PSG would countenance letting their star striker leave for free next summer.

Mbappe, 24, declared last month that he would not extend his contract, which expires next year, but has indicated he wants to remain at Parc des Princes for a final season.

"The position is very clear. If Kylian wants to stay, he must sign a new contract. We can't let the best player in the world today leave for free. It's impossible," Al Khelaifi told reporters.

"He said he would not leave for free. If somebody has changed his mind, that is not my fault."

If the impasse cannot be overcome then the French champions will have to sell Mbappe in this transfer window, with Real Madrid considered the striker's most likely destination.

Mbappe joined PSG from Monaco in August 2017 in a €180 million deal – a world record for a teenager and the second highest transfer fee in history – and has gone on to establish himself as one of the world's most prominent players.

He scored a hat-trick in France's 2022 World Cup final defeat to Argentina before helping PSG win a record 11th French title.

He was Ligue 1's top scorer last season with 29 goals and netted 41 in 43 games in all competitions. He is the club's all-time leading scorer with 212 goals.

Mbappe's penalty in a 1-0 win over Greece in Euro 2024 qualifying last month saw him break Just Fonatine's long-standing record of 53 goals in a single season by a Frenchman.

  • Paris Saint-Germain's Kylian Mbappe celebrates after scoring against Lens at the Parc des Princes on Saturday, April 15, 2023. AFP
    Paris Saint-Germain's Kylian Mbappe celebrates after scoring against Lens at the Parc des Princes on Saturday, April 15, 2023. AFP
  • Lens' Kevin Danso, left, and PSG's Kylian Mbappe fight for the ball in Paris on Saturday. AP
    Lens' Kevin Danso, left, and PSG's Kylian Mbappe fight for the ball in Paris on Saturday. AP
  • PSG's Kylian Mbappe speaks with manager Christophe Galtier> AFP
    PSG's Kylian Mbappe speaks with manager Christophe Galtier> AFP
  • Kylian Mbappe helps Lens goalkeeper Brice Samba get up. AFP
    Kylian Mbappe helps Lens goalkeeper Brice Samba get up. AFP
  • Kylian Mbappe after scoring against Lens. AFP
    Kylian Mbappe after scoring against Lens. AFP
  • Kylian Mbappe is congratulated by Achraf Hakimi, left. AFP
    Kylian Mbappe is congratulated by Achraf Hakimi, left. AFP
  • Lionel Messi after scoring his team's third goal. AFP
    Lionel Messi after scoring his team's third goal. AFP
  • PSG's Lionel Messi scores his side's third goal. AP
    PSG's Lionel Messi scores his side's third goal. AP

The 24-year-old was heavily courted by Real Madrid last year when his previous contract came to an end, only to agree a new deal to remain in Paris.

That was a two-year contract with the option of a third season which would take him to 2025, which the player has said he would not take up, even if he has indicated his intention to see out his existing deal.

"I said that next year I will play for PSG. I still have a year left on my contract and I am going to honour my contract," Mbappe said in May.

Luis Enrique, who has signed a two-year contract in Paris to take over as coach from Christophe Galtier, was evasive when asked on Wednesday if he received any guarantees that Mbappe would remain for the coming campaign.

However, he later said that he was "counting on all the players who are under contract".

MATCH INFO

Rugby World Cup (all times UAE)

Third-place play-off: New Zealand v Wales, Friday, 1pm

Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar

Mobile phone packages comparison

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.”

 

 

BORDERLANDS

Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis

Director: Eli Roth

Rating: 0/5

The specs: 2018 Ford Mustang GT

Price, base / as tested: Dh204,750 / Dh241,500
Engine: 5.0-litre V8
Gearbox: 10-speed automatic
Power: 460hp @ 7,000rpm
Torque: 569Nm @ 4,600rpm​​​​​​​
​​​​​​​Fuel economy, combined: 10.3L / 100km

Main report
Zayed Sustainability Prize
While you're here
The%20specs%20
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3E2.0-litre%204cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E261hp%20at%205%2C500rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E400Nm%20at%201%2C750-4%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3E7-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E10.5L%2F100km%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C999%20(VX%20Luxury)%3B%20from%20Dh149%2C999%20(VX%20Black%20Gold)%3C%2Fp%3E%0A
'Cheb%20Khaled'
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ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
'The worst thing you can eat'

Trans fat is typically found in fried and baked goods, but you may be consuming more than you think.

Powdered coffee creamer, microwave popcorn and virtually anything processed with a crust is likely to contain it, as this guide from Mayo Clinic outlines: 

Baked goods - Most cakes, cookies, pie crusts and crackers contain shortening, which is usually made from partially hydrogenated vegetable oil. Ready-made frosting is another source of trans fat.

Snacks - Potato, corn and tortilla chips often contain trans fat. And while popcorn can be a healthy snack, many types of packaged or microwave popcorn use trans fat to help cook or flavour the popcorn.

Fried food - Foods that require deep frying — french fries, doughnuts and fried chicken — can contain trans fat from the oil used in the cooking process.

Refrigerator dough - Products such as canned biscuits and cinnamon rolls often contain trans fat, as do frozen pizza crusts.

Creamer and margarine - Nondairy coffee creamer and stick margarines also may contain partially hydrogenated vegetable oils.

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Eyasses squad

Charlie Preston (captain) – goal shooter/ goalkeeper (Dubai College)

Arushi Holt (vice-captain) – wing defence / centre (Jumeriah English Speaking School)  

Olivia Petricola (vice-captain) – centre / wing attack (Dubai English Speaking College)

Isabel Affley – goalkeeper / goal defence (Dubai English Speaking College)

Jemma Eley – goal attack / wing attack (Dubai College)

Alana Farrell-Morton – centre / wing / defence / wing attack (Nord Anglia International School)

Molly Fuller – goal attack / wing attack (Dubai College)

Caitlin Gowdy – goal defence / wing defence (Dubai English Speaking College)

Noorulain Hussain – goal defence / wing defence (Dubai College)

Zahra Hussain-Gillani – goal defence / goalkeeper (British School Al Khubairat)

Claire Janssen – goal shooter / goal attack (Jumeriah English Speaking School)         

Eliza Petricola – wing attack / centre (Dubai English Speaking College)

MATCH INFO

What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany

Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)

UAE currency: the story behind the money in your pockets
While you're here
Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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Updated: July 06, 2023, 4:20 AM
Paris Saint-GermainKylian MbappeLigue 1