Jurgen Klopp will provide 'strategic vision, supporting individual sporting directors in advancing the Red Bull philosophy,' Red Bull said. PA
Jurgen Klopp will provide 'strategic vision, supporting individual sporting directors in advancing the Red Bull philosophy,' Red Bull said. PA
Jurgen Klopp will provide 'strategic vision, supporting individual sporting directors in advancing the Red Bull philosophy,' Red Bull said. PA
Jurgen Klopp will provide 'strategic vision, supporting individual sporting directors in advancing the Red Bull philosophy,' Red Bull said. PA

Sport

Football

Jurgen Klopp named Red Bull's head of global soccer

German to begin new role on January 1 after stepping down as Liverpool boss in the summer

Steve Luckings
Steve Luckings

October 09, 2024

  • English
  • Arabic

Former Liverpool and Borussia Dortmund manager Jurgen Klopp has been appointed as the head of global soccer for Red Bull.

The German, 57, stepped down as Liverpool boss over the summer after nine years at Anfield, in which he won the Uefa Champions League, FA Cup, two League Cups, the Fifa Club World Cup and helped the Reds end a 30-year drought for an English league title.

Klopp, who also led Dortmund to two Bundesliga titles, a German Cup and a Champions League final in 2013, had announced in January he would be leaving Liverpool at the end of the season.

Klopp will join Red Bull on January 1, overseeing the multi-club organisation’s network of clubs.

“After almost 25 years on the sideline, I could not be more excited to get involved in a project like this,” he said. “The role may have changed but my passion for football and the people who make the game what it is has not.

“By joining Red Bull at a global level, I want to develop, improve and support the incredible football talent that we have at our disposal.

“There are many ways that we can do this, from using the elite knowledge and experience that Red Bull possesses to learning from other sports and other industries. Together we can discover what is possible.

“I see my role primarily as a mentor for the coaches and management of the Red Bull clubs but ultimately, I am one part of an organisation that is unique, innovative and forward looking. As I said, this could not excite me more.”

It is understood that Klopp has a clause in his contract allowing him to apply for the Germany national team job when current incumbent Julian Nagelsmann steps down. Nagelsmann penned an extension to his contract before Euro 2024 and will lead Germany at the 2026 World Cup in North America.

A Red Bull statement read: “In his strategic role, Jurgen Klopp will not be involved in the clubs’ day-to-day operations but will focus on supporting the sports directors in advancing the Red Bull philosophy.

“He will also leverage his extensive network to aid in scouting top talent and contribute to the training and development of coaches.”

Red Bull owns German side RB Leipzig, Austrian outfit Red Bull Salzburg, MLS side New York Red Bulls and Brazilian clubs Red Bull Bragantino and Red Bull Brasil. It is also the shirt sponsor of Leeds United after buying a minority stake in the English second-tier club earlier this year.

Whiile you're here
If you go

Flights

Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.

The stay

Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.

Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

Most wins by an owner: Godolphin(9)

Most wins by a horse: Godolphin’s Thunder Snow(2)

Wenger's Arsenal reign in numbers

1,228 - games at the helm, ahead of Sunday's Premier League fixture against West Ham United.
704 - wins to date as Arsenal manager.
3 - Premier League title wins, the last during an unbeaten Invincibles campaign of 2003/04.
1,549 - goals scored in Premier League matches by Wenger's teams.
10 - major trophies won.
473 - Premier League victories.
7 - FA Cup triumphs, with three of those having come the last four seasons.
151 - Premier League losses.
21 - full seasons in charge.
49 - games unbeaten in the Premier League from May 2003 to October 2004.

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.”

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Director: Dean Fleischer Camp

Rating: 4.5/5

'Panga'

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Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta

Rating: 3.5/5

Updated: October 09, 2024, 2:48 PM
Jurgen KloppLiverpool