Kylian Mbappe, right, looks to have reached an agreement to stay at Paris Saint-Germain this season, while Neymar is heading for Saudi Arabia. AP
Kylian Mbappe, right, looks to have reached an agreement to stay at Paris Saint-Germain this season, while Neymar is heading for Saudi Arabia. AP
Kylian Mbappe, right, looks to have reached an agreement to stay at Paris Saint-Germain this season, while Neymar is heading for Saudi Arabia. AP
Kylian Mbappe, right, looks to have reached an agreement to stay at Paris Saint-Germain this season, while Neymar is heading for Saudi Arabia. AP

PSG finally able to focus on new season as Mbappe saga ends and Neymar heads for exit


Ian Hawkey
  • English
  • Arabic

Seldom has a 0-0 draw been welcomed as so promising. Paris Saint-Germain, serial champions of France, extravagant drivers of transfer fee inflation, began the defence of their Ligue 1 title at home to Lorient, who finished 10th last season, and could not break the deadlock.

But it was what was happening behind the scenes at the Parc des Princes on Saturday that left almost everybody in charge of PSG full of smiles.

Up in the grandstand sat a new signing, the €50 million Ousmane Dembele. If Dembele stays fit, there will be greater dazzle on the wings to supplement the energy and endeavour his new colleagues showed in their first official outing under freshly-appointed head coach Luis Enrique.

Seated next to Dembele was Kylian Mbappe, whose punitive exclusion from PSG practice had meant his absence from the line-up, but who is now back in training, news that was announced just as Mbappe-light PSG picked up their first point of 2023/24.

Thanks to the Mbappe blessing, Luis Enrique and the PSG president, Nasser Al Khelaifi, could cast aside most of their concerns at a scoreless match day one, convinced that the France captain, the club’s leading scorer for the past five seasons, will bring immediate extra firepower. Dembele should also add a complementary balance of speed on the opposite flank to Mbappe’s preferred left side.

The ongoing Mbappe saga has taken a sharp turn. He had, until the weekend, been effectively up for sale, because his contract with PSG expires in 2024 and, given he had very openly refused to extend his deal, PSG were facing the likelihood of Mbappe leaving for free next summer.

Talks between the player, who has rarely cloaked a desire to move to Real Madrid at some stage in his career, and Al Khelaifi on Saturday ended with an understanding that Mbappe will fulfill his stated intention to stay in Paris this season but, should he then leave, it will be with a transfer fee.

That would mean, logically, extending his contract beyond June 2024. There is as yet no confirmation of such an extension.

Coincidentally, PSG have agreed a €90 million fee with Al Hilal, the 18-time Saudi Arabian champions, for the sale of Neymar, whose personal terms for the move were being negotiated on Monday – a seismic development for all parties, and for 24-year-old Mbappe, whose six-year partnership with the Brazilian at PSG has been at once hugely productive – 54 goals assisted and scored together – and laced with personal and tactical tensions.

Mbappe breaks PSG goals record - in pictures

Neymar and Mbappe have publicly clashed over the hierarchy of penalty-taking duties; their joust for primary status as emblem and figurehead of big-spending PSG’s ambitions has at times been scarcely concealed in the period since, in the summer of 2017, the club triggered Neymar’s €222 million buyout clause at Barcelona and, in the same summer transfer window, committed €180 million to buying the then teenaged Mbappe from Monaco.

A Neymar departure turns a new page for the Qatar-backed club and, with Al Hilal making the most determined bid for the Brazilian, for the Saudi Pro League’s bold aim to assemble many of the game’s most celebrated talents.

At 31, Neymar has, potentially, several peak years ahead. He has twice appeared on Ballon d’Or podiums behind Cristiano Ronaldo and Lionel Messi. He is one goal shy of becoming his country’s record goalscorer in official, Fifa-recognised matches.

His legacy at PSG is mixed, however. No player represents more powerfully the Paris club’s game-changing wealth – the fee paid to Barcelona for Neymar remains the highest ever for a transfer – nor their fierce desire to gatecrash the cartel of European superclubs.

But with Neymar, PSG never quite conquered the Uefa Champions League, the trophy Al Khelaifi aspires to above all. The closest Neymar and Mbappe came to it in tandem was the 2020 final, a 1-0 defeat to Bayern Munich.

Neymar is on the brink of moving to Saudi Pro League giants Al Hilal. AP
Neymar is on the brink of moving to Saudi Pro League giants Al Hilal. AP

Neymar became the focus of amplified supporter frustrations, too, as Mbappe has been sporadically over the past four, eventful years.

After a home loss to Lorient last May, a group of PSG ultras – hardcore fans – demonstrated outside Neymar’s suburban Paris home shouting for him to leave the club. The player had been out of action, recovering from ankle surgery, since February.

He has often complained about his rough treatment, as an immensely skillful dribbler, from man-markers in the French top division and about a lack of protection from Ligue 1 referees.

He lobbied for a move back to Barcelona several times and, while there was muted mutual interest in rolling back the years at Barca once Dembele had agreed to join PSG – the Camp Nou club bought Dembele, a France international, with some of the proceeds of Neymar’s sale to PSG in 2017 – it is not shared unreservedly by current Barcelona head coach, Xavi.

Once Al Hilal signalled their interest in Neymar, no European club was ready to match the fee they offered PSG.

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

england euro squad

Goalkeepers: Dean Henderson (Man Utd), Sam Johnstone (West Brom), Jordan Pickford (Everton)

Defenders: John Stones (Man City), Luke Shaw (Man Utd), Harry Maguire (Man Utd), Trent Alexander-Arnold (Liverpool), Kyle Walker (Man City), Tyrone Mings (Aston Villa), Reece James (Chelsea), Conor Coady (Wolves), Ben Chilwell (Chelsea), Kieran Trippier (Atletico Madrid)

Midfielders: Mason Mount (Chelsea), Declan Rice (West Ham), Jordan Henderson (Liverpool), Jude Bellingham (Borussia Dortmund), Kalvin Phillips (Leeds)

Forwards: Harry Kane (Tottenham), Marcus Rashford (Man Utd), Raheem Sterling (Man City), Dominic Calvert-Lewin (Everton), Phil Foden (Man City), Jack Grealish (Aston Villa), Jadon Sancho (Borussia Dortmund), Bukayo Saka (Arsenal)

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FINAL RESULT

Sharjah Wanderers 20 Dubai Tigers 25 (After extra-time)

Wanderers
Tries: Gormley, Penalty
cons: Flaherty
Pens: Flaherty 2

Tigers
Tries: O’Donnell, Gibbons, Kelly
Cons: Caldwell 2
Pens: Caldwell, Cross

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

Abu Dhabi Card

5pm: Maiden (PA) Dh 80,000 1,400m

National selection: AF Mohanak

5.30pm: Handicap (PA) Dh 90,000 1,400m

National selection: Jayide Al Boraq

6pm: Handicap (TB) Dh 100,000 1,400m

National selection: Rocket Power

6.30pm: Abu Dhabi Championship Listed (PA) Dh 180,000 1,600m

National selection: Ihtesham

7pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 1,600m

National selection: Noof KB

7.30pm: Maiden (PA) Dh 80,000 2.200m

National selection: EL Faust

Match info

Wolves 0

Arsenal 2 (Saka 43', Lacazette 85')

Man of the match: Shkodran Mustafi (Arsenal)

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.”

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
The years Ramadan fell in May

1987

1954

1921

1888

Emergency

Director: Kangana Ranaut

Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry 

Rating: 2/5

Updated: August 15, 2023, 4:21 AM