Pep Guardiola's Manchester City take on Real Madrid in the Champions League knockout stage first leg at the Etihad Stadium on Tuesday. EPA
Pep Guardiola's Manchester City take on Real Madrid in the Champions League knockout stage first leg at the Etihad Stadium on Tuesday. EPA
Pep Guardiola's Manchester City take on Real Madrid in the Champions League knockout stage first leg at the Etihad Stadium on Tuesday. EPA
Pep Guardiola's Manchester City take on Real Madrid in the Champions League knockout stage first leg at the Etihad Stadium on Tuesday. EPA

Man City v Real Madrid: Guardiola admits side ‘didn’t deserve’ to go straight into Champions League last 16


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Manchester City's quest to reach the Uefa Champions League last 16 faces the ultimate test when they tackle Real Madrid in the play-offs.

Pep Guardiola's side scraped out the revamped group stage by the skin of their teeth after beating Club Brugge in their final game.

Anything less than three points and City would have been out but a 3-1 win kept alive their hopes and secured a clash with the reigning European and Spanish champions over two legs.

The English Premier League title holders have struggled both domestically and in Europe this season.

Their hopes of achieving a historic fifth Premier League crown in a row are all but over – they sit fifth in the table, 14 points behind leaders Liverpool who have a game in hand.

In the Champions League, City lost three of their eight group matches – to Sporting Lisbon, Juventus and Paris Saint-Germain – only making the play-off stage thanks to a superior goal difference.

And Guardiola pulled no punches about why they face a two-legged clash – with the decider in Madrid – to keep alive their hopes of reaching the knockout stage.

“We play the second game away because we were not good in the group stage,” said the former Barcelona coach on Monday. “We finished 22-24 – you cannot ask any favour.

“We didn't deserve it, we didn't get enough points to start in the eight first, not even close to that position. Do it better and maybe you have another draw.

“The group stage, the knockout stage is always difficult, we have not done quite well in the group stage so we deserve to be where we are. The draw is the draw and [we] accept the challenge.”

And that challenge is facing a team who has become a familiar foe in recent campaigns with the two clubs meeting for a fourth season in a row.

In 2021-22, Real came out on top over two legs in the semi-finals – ahead of securing a record-extending 14th crown – with City triumphing a year later at the same stage on their way to a first ever European Cup.

And Los Blancos ended City's reign last season via a penalty shoot-out in the quarter-finals.

When asked whether he feels that City are underdogs this time round, against a team siting top of La Liga – Guardiola said: “I don't know. Both teams have had problems in terms of injuries during the season.

“Madrid handle it much better than us because they are still top of the league and fighting against Atletico Madrid. That shows again the consistency they have.

“At the end [we know] they are a huge competitor. We know it. We have faced many times with them and how in the tough moments they bring the best of them – we know it. Of course we have to make two good games to go through.”

City are preparing to go up against the most feared forward line in Europe in Jude Bellingham, Rodrygo, Vinicius Junior and Kylian Mbappe.

The attacking quartet have scored 63 goals between them across all competitions already this season while City's backline has struggled without the protection of injured midfielder and Ballon d'Or winner Rodri.

And Guardiola is fully away of the size of the task awaiting his team. “It's impossible in 90/120/200 minutes to control these players,” he admitted.

“They are exceptional – how they combine, the runners, the ability one against one, how they keep the ball, all four are exceptional.

  • Kevin De Bruyne scores Manchester City's second goal in their 2-1 win against Leyton Orient in the FA Cup fourth round match at Gaughan Group Stadium on February 8, 2025. Getty Images
    Kevin De Bruyne scores Manchester City's second goal in their 2-1 win against Leyton Orient in the FA Cup fourth round match at Gaughan Group Stadium on February 8, 2025. Getty Images
  • Manchester City manager Pep Guardiola argues with the fourth official. Reuters
    Manchester City manager Pep Guardiola argues with the fourth official. Reuters
  • Substitute Kevin De Bruyne clips the ball past Josh Keeley in the Orient goal to score City's second goal. Reuters
    Substitute Kevin De Bruyne clips the ball past Josh Keeley in the Orient goal to score City's second goal. Reuters
  • Rico Lewis takes a shot which deflects off teammate Abdukodir Khusanov [not pictured], resulting in City's first goal. Getty Images
    Rico Lewis takes a shot which deflects off teammate Abdukodir Khusanov [not pictured], resulting in City's first goal. Getty Images
  • City's Abdukodir Khusanov, centre, celebrates with team-mates after scoring their first goal, albeit through a lucky deflection off his back. PA
    City's Abdukodir Khusanov, centre, celebrates with team-mates after scoring their first goal, albeit through a lucky deflection off his back. PA
  • Leyton Orient's Jamie Donley celebrates after his strike led to City goalkeeper Stefan Ortega scoring a 16th-minute goal. Reuters
    Leyton Orient's Jamie Donley celebrates after his strike led to City goalkeeper Stefan Ortega scoring a 16th-minute goal. Reuters
  • Orient's Charlie Kelman sees an attempt on goal blocked by City keeper Stefan Ortega. Reuters
    Orient's Charlie Kelman sees an attempt on goal blocked by City keeper Stefan Ortega. Reuters
  • Ilkay Gundogan misses a chance to score for Manchester City in the first half. Reuters
    Ilkay Gundogan misses a chance to score for Manchester City in the first half. Reuters
  • City keeper Stefan Ortega scores an own goal after a long range shot from Jamie Donley of Leyton Orient hit the crossbar. Getty Images
    City keeper Stefan Ortega scores an own goal after a long range shot from Jamie Donley of Leyton Orient hit the crossbar. Getty Images
  • City goalkeeper Stefan Ortega looks on after his first-half own-goal at the Gaughan Group Stadium in London. PA
    City goalkeeper Stefan Ortega looks on after his first-half own-goal at the Gaughan Group Stadium in London. PA

“Everybody knows it, so you have to reduce that involvement as much as possible, knowing that it's going to happen, accept it.”

During Saturday's FA Cup win at Leyton Orient – when City came back from a goal down to defeat the third-tier side – Guardiola was once again serenaded by opposition fans suggesting he was “getting sacked in the morning”.

The chant has become a familiar one at away grounds for the Spaniard during this season's struggles but he brushed off the suggestion that he might be fearing for his job.

“I don't have that feeling,” Guardiola said. “Obviously I am here, I am still here because of what we have won in previous seasons, if not I probably wouldn't be here but that's the relationship that we have.

“If things don't work we'll shake hands and move on, but I don't think I'm going to be thrown out on the street.”

The Bio

Hometown: Bogota, Colombia
Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi
The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly
Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity

Name: Peter Dicce

Title: Assistant dean of students and director of athletics

Favourite sport: soccer

Favourite team: Bayern Munich

Favourite player: Franz Beckenbauer

Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates 

 

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.”

Updated: February 10, 2025, 3:53 PM