The future of Mohamed Salah is one of the more intriguing subplots as Liverpool’s bleak season draws to an end.
The Premier League title defence fizzled out in the new year. An uphill battle for the top four and Champions League qualification is all that remains in this underwhelming campaign. Everyone at Anfield has begun to look beyond May to imagine what comes next.
Salah is Liverpool’s most marketable asset. He is acutely aware that, because he turns 29 in June, he probably has just one big move left in his career.
The Egyptian has given two teasing interviews to the Spanish press in the past five months talking about the possibility of moving to La Liga, the most recent of which was conducted in the March international break. Goalscorers like Salah do not come on to the market very often. He should be a man in demand.
There are complications. The pandemic is likely to depress transfer fees in the summer. “We are going to see clubs reporting £100 million-plus losses because of Covid,” said David Bick, the chairman of Square 1 Consulting and a financial specialist who has been involved in a number of football takeovers. “Even the biggest clubs are feeling the pain.”
Manchester City posted losses of £126m ($173m) for 2019-20 last week. The teams who are able to afford Salah’s fee and wages may think again when they look at the bottom line.
There are other options for potential buyers. Three strikers are higher on the wish lists of the wealthiest clubs. Erling Braut Haaland is the prime target for this summer. The Borussia Dortmund forward is 20 and represents better long-term value.
Kylian Mbappe is also more desirable. The 22-year-old Frenchman is a likelier recruit for Real Madrid and Barcelona should he choose to leave Paris Saint-Germain.
Harry Kane also ranks above Salah in the view of potential buyers. The Tottenham Hotspur captain is a year younger and has a more impressive all-round game than the Liverpool man.
Liverpool 2 Aston Villa 1: player ratings
The pool of big spenders is small. Real and Barca are both contending with fiscal problems. The Manchester clubs, City and United, could pull off a deal. PSG have money to burn but already have Mbappe. Chelsea might get involved but they spent more than £200m last summer and are well stocked with young talent up front. Salah’s options are very limited.
At the Anfield end, the club would consider a sale. Fenway Sports Group (FSG), the owners, have cashed in on their stars in the past when rebuilding was necessary. They hope on Merseyside that the return of Virgil van Dijk, Joe Gomez and Jordan Henderson will solve the team’s problems and bring back the title-winning form. It may not be that simple.
Opponents have come to terms with Jurgen Klopp’s tactics. Sadio Mane and Roberto Firmino no longer have lost the spark they displayed for the past two years. The side might need a serious overhaul.
RedBird Capital Partners acquired a £533m, 10 per cent stake in FSG last month but that money is invested across the owners’ portfolio. It will plug financial holes for the Boston Red Sox as well as Liverpool.
Anfield will be able to operate relatively normally during the summer, with resources available for the right players, but there will be no break from the policy of the club financing itself.
In the past, sales have paid for rebuilding. Luis Suarez and Philippe Coutinho were offloaded to Barcelona for big fees. A similar blockbuster deal for Salah would be considered.
Liverpool will only sell at the right price, though. They would expect upwards of £150m. Salah has two years left on his contract and now would be the ideal time to maximise his value in normal years. Covid-19 has made this year very different.
From Liverpool’s point of view, keeping Salah would not be the worst thing that could happen. He is joint leading goalscorer in the Premier League with Kane, having notched 19 times in the league this season, and has a remarkable record during his time at Anfield.
The Champions League quarter-final tie against Real was seen by many as an audition for the Egyptian. He scored in the 3-1 defeat in the first leg but missed a golden chance to bring Liverpool back into the tie early in the 0-0 draw at Anfield on Wednesday. That performance did him no favours.
Salah may not have the sort of personality that suits the Bernabeu. He has a great sense of his own status but it takes a certain type of character to thrive in the pressure cooker of Madrid. Eden Hazard has not risen to the challenge. Salah has more in common with the Belgian than, say, Cristiano Ronaldo, who took on the role of talisman with aplomb.
Circumstances could mean that Salah remains at Anfield next season. He would like to leave, Liverpool would likely sell but it may not be the worst thing for both parties if he stays put.
MEYDAN RESULTS
6.30pm Baniyas (PA) Group 2 Dh125,000 (Dirt) 1,400m
Winner ES Ajeeb, Sam Hitchcock (jockey), Ibrahim Aseel (trainer).
7.05pm Maiden (TB) Dh165,000 (D) 1,200m
Winner Galaxy Road, Antonio Fresu, Musabah Al Muhairi.
7.40pm Maiden (TB) Dh165,000 (D) 1,400m
Winner Al Modayar, Fernando Jara, Ali Rashid Al Raihe.
8.15pm Handicap (TB) Dh170,000 (D) 1,900m
Winner Gundogdu, Xavier Ziani, Salem bin Ghadayer.
8.50pm Rated Conditions (TB) Dh240,000 (D) 1,600m
Winner George Villiers, Tadhg O’Shea, Satish Seemar.
9.25pm Handicap (TB) Dh175,000 (D)1,200m
Winner Lady Parma, Connor Beasley, Satish Seemar
10pm Handicap (TB) Dh165,000 (D) 1,400m
Winner Zaajer, Fernando Jara, Ali Rashid Al Raihe
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
What is safeguarding?
“Safeguarding, not just in sport, but in all walks of life, is making sure that policies are put in place that make sure your child is safe; when they attend a football club, a tennis club, that there are welfare officers at clubs who are qualified to a standard to make sure your child is safe in that environment,” Derek Bell explains.
Race card
1.30pm: Handicap (PA) Dh 50,000 (Dirt) 1,400m
2pm: Handicap (TB) Dh 84,000 (D) 1,400m
2.30pm: Maiden (TB) Dh 60,000 (D) 1,200m
3pm: Conditions (TB) Dh 100,000 (D) 1.950m
3.30pm: Handicap (TB) Dh 76,000 (D) 1,800m
4pm: Maiden (TB) Dh 60,000 (D) 1,600m
4.30pm: Handicap (TB) Dh 68,000 (D) 1,000m
Sukuk explained
Sukuk are Sharia-compliant financial certificates issued by governments, corporates and other entities. While as an asset class they resemble conventional bonds, there are some significant differences. As interest is prohibited under Sharia, sukuk must contain an underlying transaction, for example a leaseback agreement, and the income that is paid to investors is generated by the underlying asset. Investors must also be prepared to share in both the profits and losses of an enterprise. Nevertheless, sukuk are similar to conventional bonds in that they provide regular payments, and are considered less risky than equities. Most investors would not buy sukuk directly due to high minimum subscriptions, but invest via funds.
ZAYED SUSTAINABILITY PRIZE
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.
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.