Tim Tebow joins Mark Sanchez who has been declared the No 1 quarterback in the team.
Tim Tebow joins Mark Sanchez who has been declared the No 1 quarterback in the team.

New York Jets finally land Tebow but 'Timsanity' is not for everyone



NEW YORK // Tim Tebow is coming to New York. Really.

After a big false start, the New York Jets have pulled off a Tebow-like comeback, getting the quarterback who turned the Denver Broncos from an also-ran into a play-off team last season and became the NFL's most talked-about player - for a fourth- and sixth-round draft pick.

Now, Tebowmania is opening on Broadway.

And, there is sure to be plenty of drama - just as there was from the moment the Jets pulled off the deal. Or thought they did, that is.

"I'm thankful they stuck with me through this whole crazy process," Tebow said.

Eight hours after initially agreeing to a trade, the teams completed it after it was hung up when the Jets baulked at repaying Denver more than $5 million (Dh18m) for a salary advance due Tebow.

The two sides agreed to split that cost, and Jets' general manager Mike Tannenbaum said the team was "comfortable with the compensation."

He said there was a disagreement about how to handle the salary advance after Denver received the papers.

"We knew what the contract was," he said. "We had read it. ... We felt it was one way; they felt it was another. Based on that, they were well within their rights to assess their different possibilities of what to do and their alternatives. And they did so throughout the day."

So the Jets waited and waited - and looked as if they had botched the big deal. Despite ultimately pulling off the trade, it was just another bizarre moment for the Jets, a team that has had its share of them over the years, conjuring memories of Bill Belichick's hiring as coach and his resignation one day later.

The deal also raised questions about the Jets' commitment to Mark Sanchez, who received a $40.5 million contract extension, with $20.5 million guaranteed, earlier this month.

During the last two days, Tannenbaum repeatedly referred to Sanchez as "our guy" and the team's unquestioned starting quarterback. "Mark Sanchez is, has been and will be our starting quarterback," he said.

But the Jets have opened themselves - and Sanchez - to what could be a season of added criticism from restless fans who are sure to call for Tebow to play at the first sign of struggles.

"We obviously know that Tim has a magnetic following," Tannenbaum said. "We understand the popularity of the backup quarterback, and this one is more unique than others."

Tebow said he had a "great conversation" with Sanchez, adding that they have been friends for several years.

Just a few weeks after "Linsanity" swept the area and the rest of the NBA with the Knicks' sensational Jeremy Lin, "Timsanity" now will take over New York.

"I'm just excited for him and to see what he does," Lin said in Philadelphia, where the Knicks beat the 76ers. "We'll see what happens next year. But I'm excited, obviously, that he's going to be in New York."

So was defensive end Mike DeVito, who likes the intangible qualities Tebow will offer. "You've got a tough player on the field, a leader in the locker room and a guy who shares the faith that I share," DeVito said. "So, I'm very grateful to have him on our team, and I feel it's going to really benefit us as a whole."

But not everyone's a fan. Another teammate, cornerback Antonio Cromartie, took to Twitter to express his confidence in Sanchez and the offence as structured before the deal was finalised.

"Y bring Tebow in when we need to bring in more Weapons for (at)Mark-Sanchez," Cromartie tweeted. "Let's build the team around him. We already signed to 3 year ext."

The Jets signed Drew Stanton last week to be their No 2 quarterback, ahead of Greg McElroy, the team's seventh-round draft pick last year. Tannenbaum said Tuesday that he was confident in the trio, but acknowledged that the team would assess that situation.

Hall of Fame quarterback Joe Namath, who led the Jets to their only Super Bowl title in 1969, was also among those who were unhappy. "I'm just sorry that I can't agree with this situation. I think it's just a publicity stunt. I can't go with it. I think it's wrong," Namath told 1050 ESPN Radio on Wednesday. "I don't think they know what they're doing over there."

MEDIEVIL (1998)

Developer: SCE Studio Cambridge
Publisher: Sony Computer Entertainment
Console: PlayStation, PlayStation 4 and 5
Rating: 3.5/5

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

TWISTERS

Director:+Lee+Isaac+Chung

Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos

Rating:+2.5/5

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

COMPANY PROFILE

Name: SmartCrowd
Started: 2018
Founder: Siddiq Farid and Musfique Ahmed
Based: Dubai
Sector: FinTech / PropTech
Initial investment: $650,000
Current number of staff: 35
Investment stage: Series A
Investors: Various institutional investors and notable angel investors (500 MENA, Shurooq, Mada, Seedstar, Tricap)

SPECS

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Confirmed bouts (more to be added)

Cory Sandhagen v Umar Nurmagomedov
Nick Diaz v Vicente Luque
Michael Chiesa v Tony Ferguson
Deiveson Figueiredo v Marlon Vera
Mackenzie Dern v Loopy Godinez

Tickets for the August 3 Fight Night, held in partnership with the Department of Culture and Tourism Abu Dhabi, went on sale earlier this month, through www.etihadarena.ae and www.ticketmaster.ae.

SPECS: Polestar 3

Engine: Long-range dual motor with 400V battery
Power: 360kW / 483bhp
Torque: 840Nm
Transmission: Single-speed automatic
Max touring range: 628km
0-100km/h: 4.7sec
Top speed: 210kph
Price: From Dh360,000
On sale: September

Scoreline

Al Wasl 1 (Caio Canedo 90+1')

Al Ain 2 (Ismail Ahmed 3', Marcus Berg 50')

Red cards: Ismail Ahmed (Al Ain) 77'

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

Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8

UAE central contracts

Full time contracts

Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid

Part time contracts

Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma

Bridgerton season three - part one

Directors: Various

Starring: Nicola Coughlan, Luke Newton, Jonathan Bailey

Rating: 3/5

The specs

Engine: 1.6-litre 4-cyl turbo

Power: 217hp at 5,750rpm

Torque: 300Nm at 1,900rpm

Transmission: eight-speed auto

Price: from Dh130,000

On sale: now

The years Ramadan fell in May

1987

1954

1921

1888

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

Read part four: an affection for classic cars lives on

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 


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