Around Atletico Madrid’s new stadium, the Metropolitano, you can trace the history of the club with your footsteps.
There are plaques tiled into the ground dedicated to longer-serving players. It is a noble idea, but it also means easy target-practice for the disgruntled fan. Footballers deemed to have betrayed Atletico sometimes see their plaques have been annotated with graffiti, or worse.
Antoine Griezmann’s tile might pick up a few scratches in the months ahead, though how deep they are depends on where he takes his world-class talents next. The French striker has elected to leave Atletico after five seasons, four of them exhilarating. Ambition is guiding him away.
If he joins a Spanish rival - Paris Saint-Germain have been strongly linked with Griezmann, but Barcelona appears his likeliest destination - there will be anger among Atletico followers and a degree of irritation. It is no secret to most that Griezmann was exploring alternatives for at least two of the three close-seasons of his time as an Atletico player.
Griezmann told the senior executives at the club on Tuesday he wanted activate the buyout clause he negotiated in his last contract - agreed less than a year ago - and move on, in return for €120 million (Dh493.3m), of which Atletico will receive €96m, and Real Sociedad, from whom the Madrid club bought Griezmann in 2014, will gain a welcome €24m.
The club had seen it coming. When Atletico were knocked out of the Uefa Champions League by Juventus at the last-16 stage, shocked after taking a 2-0 first leg lead, a dream faded: the European Cup final is to be staged at the Metropolitano, and Atletico and Griezmann had wanted to be there for that.
Griezmann, a star of France’s 2018 World Cup triumph, was persuaded last July to pursue that objective, and new terms were offered to him by Atletico to keep the interest of Barcelona at bay.
Those included a rise in salary, to some €20m per season, and the new buyout clause that could be activated on July 1, 2019. He was also convinced he would become even more the key creative spark of a team with momentum, surrounded by other inspiring leaders.
One of those leaders, the long-serving manager, Diego Simeone has been the chief accelerator of Griezmann’s career, guiding his development from feathery winger to all-round forward and consistent matchwinner, scorer of 133 Atletico goals in 256 games.
Another, Diego Godin, the granite central defender and Atletico totem for the best part of a decade, is Griezmann’s closest friend, and when Godin last week said his own farewells to the club, to warm, unconditional applause from supporters, it looked like a herald for Griezmann’s departure.
Godin had personally persuaded his buddy, last July, to remain one more year; he could do so less convincingly once he too had decided on a change of scenery. Godin is expected to join Italy’s Inter Milan.
Simeone will miss both, one the pillar of the formidable defence Atletico constructed as the base to reach two Champions League finals, win a Liga title and a Europa League between 2014 and 2018, the other, Griezmann, the masterly spearhead of the counter-attacking style that is Atletico’s default and also the key forward in more a finessed style Simeone has been cultivating.
This pair look major absentees from the next phase of the Simeone era, the story of perhaps the most upwardly mobile club in Europe in the last five years.
A stroll around the stadium’s plaques reminds Atletico fans that fine players go, and, in recent years, the club has still progressed.
Sergio Aguero, Diego Forlan, Fernando Torres, Diego Costa all moved on, for ambition, and Torres and Costa later returned to Atletico in the full confidence Simeone’s coaching could maximise their talents and the club satisfy their aspirations.
But the new Griezmann will not be Costa, who, in the last 18 months, in his third spell at Atletico, has offered scant indication he can assume any great portion of Griezmann’s responsibilities.
Other loyalists are probably exiting, too, like the veteran full-backs Juanfran and Filipe Luis, which, tied to the confirmed sale of Lucas Hernandez, the left-back, to Bayern Munich, leaves Atletico facing a major overhaul even before the club contemplate other issues, like Rodrigo, the central midfielder, who is reliably reported to be of interest to Manchester City.
With the Griezmann fee, and the near-€80m Lucas’s sale to Bayern will bring in, Atletico do have a sizeable budget to recruit replacements. But two or three players of proven pedigree may be needed, more if standards are not to slip as they have over the last nine months.
The last-16 exit from Europe was not the sole setback. The gap between Atletico, who will finish second in La Liga, and the champions, Barca, stands at 11 points with one fixture left.
Ahead of that last game, away at Levante on Saturday, Griezmann has put out a video to say his goodbyes, thanking the club, and the supporters “for all the affection they have given me,” explaining he wanted “new challenges.” The next time he plays at the Metropolitano, he can expect a mixed reception. He may be wise to skirt clear of the plaque with his name on it.
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Why the Tourist Club?
Originally, The Club (which many people chose to call the “British Club”) was the only place where one could use the beach with changing rooms and a shower, and get refreshments.
In the early 1970s, the Government of Abu Dhabi wanted to give more people a place to get together on the beach, with some facilities for children. The place chosen was where the annual boat race was held, which Sheikh Zayed always attended and which brought crowds of locals and expatriates to the stretch of beach to the left of Le Méridien and the Marina.
It started with a round two-storey building, erected in about two weeks by Orient Contracting for Sheikh Zayed to use at one these races. Soon many facilities were planned and built, and members were invited to join.
Why it was called “Nadi Al Siyahi” is beyond me. But it is likely that one wanted to convey the idea that this was open to all comers. Because there was no danger of encountering alcohol on the premises, unlike at The Club, it was a place in particular for the many Arab expatriate civil servants to join. Initially the fees were very low and membership was offered free to many people, too.
Eventually there was a skating rink, bowling and many other amusements.
Frauke Heard-Bey is a historian and has lived in Abu Dhabi since 1968.
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.”
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Schedule for Asia Cup
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
The specs
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Torque: 637Nm at 5,150rpm
Transmission: 8-speed dual-clutch auto
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THE BIO: Martin Van Almsick
Hometown: Cologne, Germany
Family: Wife Hanan Ahmed and their three children, Marrah (23), Tibijan (19), Amon (13)
Favourite dessert: Umm Ali with dark camel milk chocolate flakes
Favourite hobby: Football
Breakfast routine: a tall glass of camel milk
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What are the influencer academy modules?
- Mastery of audio-visual content creation.
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- Emerging technologies and VFX with AI and CGI.
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GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
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