Andy Pettitte and Mariano Rivera have left, Robinson Cano and Curtis Granderson might not be far behind and Alex Rodriguez could be suspended for all of next season.
Following the New York Yankees’ worst year since 1992, there are a whole lot of questions and not many answers. Manager Joe Girardi has not even committed to returning.
“I don’t know how it’s going to be here next year,” captain Derek Jeter said after Sunday’s season finale. “The manager and coaches are free agents, too. Anything I would say about next year would be premature and speculation.”
New York finished joint third in the American League (AL) East at 85-77, their poorest winning percentage in more than two decades. The Yankees were 12 games behind first-place Boston and six games behind Tampa Bay.
“The franchise knows what they have to do,” said Cano, who may seek a contract worth US$300 million (Dh1.1 billion) or more as a free agent. “They seem to make the team better every single year. I’m just going to go on vacation and go home and see the family and see where we are.”
For a team that treats early-round play-off games as routine, missing the post-season for only the second time in 19 years was a shock. The only new memories created were tear-filled exits.
“Andy [Pettitte] and Mo [Rivera], goes without saying how special that was,” Jeter said. “But on the field, it wasn’t memorable.”
New York’s high point of 12 games over .500 was reached on the Saturday of Memorial Day weekend. By early August they hit their mid-season nadir at 57-56.
Not for a single game did New York put their envisioned line-up on the field. After breaking his left ankle in the AL championship series opener against Detroit last October, Jeter did not return until July 11 and went right back on the disabled list (DL) with a tight right quadriceps. He came back late in the month but played in only four games before a strained right calf caused a third DL stint.
Coming off left hip surgery in January, Rodriguez did not make his season debut until August 5 – the day he was given a 211-game suspension by Major League Baseball for alleged violations of the sport’s drug agreement and labour contract. Playing while his penalty was under appeal, he hit .244 with seven homers and 19 RBIs in 44 games and missed the final four because of sore legs.
Mark Teixeira partially tore the tendon sheath in his right wrist in the pre-season. His season amounted to a .151 average with three homers and 12 RBIs in 15 games.
And in his last season before free agency, Granderson hit .229 with seven homers and 15 RBIs in 61 games. His right forearm was broken on February 24 in his first spring training plate appearance when he was hit by a pitch.
Even the replacements got hurt.
Kevin Youkilis did not play after June 13 because of a lumbar spine sprain. Eduardo Nunez was out from early May until July with a left oblique strain. Francisco Cervelli’s season ended April 26 when a foul ball off the bat of Toronto’s Rajai Davis broke his right hand. The catcher also was suspended in the Biogenesis drug scandal.
New York used a team-record 56 players as 21 went on the disabled list for a total of 28 stints, causing 1,493 missed days.
Home runs dropped from a team-record 245 last year to 144, the Yankees’ fewest in a non-shortened season since they hit 130 in 1989. Not counting strike years, it was the largest fall-off in baseball history.
“I think we need more offence overall,” Girardi said.
Fourteen players are potentially eligible for free agency, including Phil Hughes (4-14), Hiroki Kuroda (11-13 after losing his last six decisions) and relievers Boone Logan and Joba Chamberlain.
Jeter is expected to exercise his $9.5m player option. Cano, the team’s best offensive player, may opt to take a higher offer if the Yankees attempt to show fiscal restraint. CC Sabathia remains a concern after going 14-13 with a 4.78 ERA, 76th among 81 qualifying pitchers. The ace missed his final turn in the rotation because of a strained left hamstring.
Atlanta Braves catcher Brian McCann seems to be a possible target in the free-agent market. The pitching staff could be overhauled.
But if the new guys get hurt, the Yankees might struggle again.
“I don’t care who the guys are in that room,” Girardi said. “When you put the uniform on, you’re a big league player and I believe you have a chance to make the post-season.”
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Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
SPAIN SQUAD
Goalkeepers Simon (Athletic Bilbao), De Gea (Manchester United), Sanchez (Brighton)
Defenders Gaya (Valencia), Alba (Barcelona), P Torres (Villarreal), Laporte (Manchester City), Garcia (Manchester City), D Llorente (Leeds), Azpilicueta (Chelsea)
Midfielders Busquets (Barcelona), Rodri (Manchester City), Pedri (Barcelona), Thiago (Liverpool), Koke (Atletico Madrid), Ruiz (Napoli), M Llorente (Atletico Madrid)
Forwards: Olmo (RB Leipzig), Oyarzabal (Real Sociedad), Morata (Juventus), Moreno (Villarreal), F Torres (Manchester City), Traore (Wolves), Sarabia (PSG)
Roll of honour
Who has won what so far in the West Asia Premiership season?
Western Clubs Champions League - Winners: Abu Dhabi Harlequins; Runners up: Bahrain
Dubai Rugby Sevens - Winners: Dubai Exiles; Runners up: Jebel Ali Dragons
West Asia Premiership - Winners: Jebel Ali Dragons; Runners up: Abu Dhabi Harlequins
UAE Premiership Cup - Winners: Abu Dhabi Harlequins; Runners up: Dubai Exiles
West Asia Cup - Winners: Bahrain; Runners up: Dubai Exiles
West Asia Trophy - Winners: Dubai Hurricanes; Runners up: DSC Eagles
Final West Asia Premiership standings - 1. Jebel Ali Dragons; 2. Abu Dhabi Harlequins; 3. Bahrain; 4. Dubai Exiles; 5. Dubai Hurricanes; 6. DSC Eagles; 7. Abu Dhabi Saracens
Fixture (UAE Premiership final) - Friday, April 13, Al Ain – Dubai Exiles v Abu Dhabi Harlequins
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Russia's Muslim Heartlands
Dominic Rubin, Oxford
Defending champions
World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack
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.”