When 18-year-old Tony Watt fired Glasgow Celtic to a memorable and unexpected victory over Barcelona in the Champions League group stages last November, two men in England let out a whispered whoop.
Justin Andrews and Mark Warburton, the founders of the embryonic NextGen Series, were already well aware of Watt's prowess in front of goal, having watched the Scot score twice against Barcelona's youth team during the inaugural Under 19 tournament the previous season. Now, however, Watt had done it again, but this time against the Spaniards' first team.
"It was amazing; probably one of our proudest moments," Andrews told The National.
"The thing about it is that our tournament is giving these boys the chance. The managers watch them play and they can see the boys are ready. Guys like Tony Watt and Raheem Sterling [of Liverpool], it gives them a chance and that is of incredible benefit to the clubs."
Watt and Sterling are far from the only success stories with roots in the inaugural NextGen season, which launched with the objective of replicating the Uefa Champions League by providing the continent's finest young players with the opportunity to regularly face other quality clubs from around Europe.
When Inter Milan won the tournament after beating Ajax on penalties, the Italian side's president, Massimo Moratti, was so impressed he promoted the youth team coach, Andrea Stramaccioni, to the first team.
"Inter Milan were playing Juventus away that day in what is a massive game in northern Italy, but Moratti turned up in London to attend our match instead," Andrews said. "Then, off the back of Inter's win, he fired [Claudio] Ranieri and gave Stramaccioni the job for his performance in our tournament. For me, that was incredible."
Andrews and Warburton launched their youth champions league in 2011 with 16 teams involved. This year, they expanded the competition to 24 clubs. From next year, the hope is to continue growing and expand to 32 teams.
"I will not miss a game, believe me, "Arsene Wenger, the Arsenal manager said, before his club began their debut campaign at the start of the 2012 season. "I will watch every game because I want to see what other clubs have, what is going on and if there is an evolution with some players."
As well as numerically, NextGen is keen to expand geographically too. Talk of a NextGen Asia series is premature, Andrews said, but the Englishman will visit the Middle East this week in the hope of tying up a deal to host this season's semi-finals and final either in the UAE or in Qatar in late March.
"We have had a lot of calls and interest from the Middle East as NextGen has grown," said Andrews, who notes players competing in NextGen this year are likely to be hitting their peak in 2022, when Qatar hosts the Fifa World Cup.
"I don't know why, but we seem to have hit a note in the region. Maybe it's because potential stars of tomorrow compete in it or maybe it's because we are quite fortuitous in that if we are invited to play outside Europe, we can. A lot of the other competitions can't do that."
He added: "We have been through the levels that you have to go through in the UAE, the steps you have to take to get to the right people; and I think we are making positive headway."
As The National revealed last year, the UAE had expressed interest in hosting the 2012 final, but teams were keen to play the inaugural final in Europe.
Now, however, Andrews is confident a deal - which he said would involve a hosting fee in excess of £1 million (Dh5.82m) and global television and press coverage - can be struck.
"Two key things have changed," he said. "We spent about two years conceptualising and then one year making sure it was right for football and that the teams would engage in it. That was really successful - beyond our expectations.
"I mean, we thought we would be playing in training grounds, but by the end the clubs were pushing us to play in main stadiums: Anfield, Wolfsburg, Villa Park …
"Secondly, last season, NextGen was an unknown quantity. Now, the fact the players really enjoy it and the clubs get value out of it, it's given us a lot more sway, so we can say 'What about playing in the Middle East?' and they are more receptive."
Last year's NextGen final was held in London and attended by around 7,000 spectators, while earlier this year, Tottenham Hotspur's group clash with Barcelona attracted more than 15,000 fans, as well as being watched on television in Europe by 655,000 people, according to Eurosport.
"As it stands, Abu Dhabi, Dubai, Doha and two European cities have shown interest and now it's a matter of deciding which host city would be the best fit," Andrews said. "We are hoping to have everything confirmed within three weeks."
Which will coincide nicely with the resumption of Celtic's - and Watt's - Champions League campaign. Another whoop is in the offing.
gmeenaghan@thenational.ae
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No%20Windmills%20in%20Basra
%3Cp%3EAuthor%3A%20Diaa%20Jubaili%3C%2Fp%3E%0A%3Cp%3EPages%3A%20180%3C%2Fp%3E%0A%3Cp%3EPublisher%3A%20Deep%20Vellum%20Publishing%C2%A0%3C%2Fp%3E%0A
A cheaper choice
Vanuatu: $130,000
Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.
Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.
Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.
Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
World record transfers
1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m
Prophets of Rage
(Fantasy Records)
Asia Cup 2018 final
Who: India v Bangladesh
When: Friday, 3.30pm, Dubai International Stadium
Watch: Live on OSN Cricket HD
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
RESULTS
Welterweight
Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)
(Unanimous points decision)
Catchweight 75kg
Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)
(Second round knockout)
Flyweight (female)
Manon Fiorot (FRA) beat Corinne Laframboise (CAN)
(RSC in third round)
Featherweight
Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki
(Disqualification)
Lightweight
Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)
(Unanimous points)
Featherweight
Yousef Al Housani (UAE) beat Mohamed Fargan (IND)
(TKO first round)
Catchweight 69kg
Jung Han-gook (KOR) beat Max Lima (BRA)
(First round submission by foot-lock)
Catchweight 71kg
Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)
(TKO round 1).
Featherweight title (5 rounds)
Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)
(TKO round 1).
Lightweight title (5 rounds)
Bruno Machado (BRA) beat Mike Santiago (USA)
(RSC round 2).
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EGrowdash%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJuly%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3ESean%20Trevaskis%20and%20Enver%20Sorkun%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ERestaurant%20technology%0D%3Cbr%3E%3Cstrong%3EFunding%20so%20far%3A%3C%2Fstrong%3E%20%24750%2C000%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Plus%20VC%2C%20Judah%20VC%2C%20TPN%20Investments%20and%20angel%20investors%2C%20including%20former%20Talabat%20chief%20executive%20Abdulhamid%20Alomar%2C%20and%20entrepreneur%20Zeid%20Husban%3C%2Fp%3E%0A
The%20specs
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TECH%20SPECS%3A%20APPLE%20WATCH%20SERIES%209
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KILLING OF QASSEM SULEIMANI
McLaren GT specs
Engine: 4-litre twin-turbo V8
Transmission: seven-speed
Power: 620bhp
Torque: 630Nm
Price: Dh875,000
On sale: now
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
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.”