• Anthony Joshua, left, and Oleksandr Usyk during a press conference ahead of their world heavyweight title fight at Tottenham Hotspur Stadium in London on Saturday, September 25. Matchroom CEO Eddie Hearn stands between the two fighters. PA
    Anthony Joshua, left, and Oleksandr Usyk during a press conference ahead of their world heavyweight title fight at Tottenham Hotspur Stadium in London on Saturday, September 25. Matchroom CEO Eddie Hearn stands between the two fighters. PA
  • Anthony Joshua, left, and Oleksandr Usyk bump fists during a press conference ahead of their world heavyweight title fight at Tottenham Hotspur Stadium in London on Saturday, September 25. Getty
    Anthony Joshua, left, and Oleksandr Usyk bump fists during a press conference ahead of their world heavyweight title fight at Tottenham Hotspur Stadium in London on Saturday, September 25. Getty
  • World heavyweight champion Anthony Joshua as the press conference in London on Thursday, September 23. Getty
    World heavyweight champion Anthony Joshua as the press conference in London on Thursday, September 23. Getty
  • Promoter Eddie Hearn, centre, alongside Oleksandr Usyk and Anthony Joshua. Getty
    Promoter Eddie Hearn, centre, alongside Oleksandr Usyk and Anthony Joshua. Getty
  • Anthony Joshua and Oleksandr Usyk face off. Getty
    Anthony Joshua and Oleksandr Usyk face off. Getty
  • Eddie Hearn with Anthony Joshua during the press conference at the Tottenham Hotspur Stadium. PA
    Eddie Hearn with Anthony Joshua during the press conference at the Tottenham Hotspur Stadium. PA
  • British boxer Anthony Joshua with promoter Eddie Hearn in the background. PA
    British boxer Anthony Joshua with promoter Eddie Hearn in the background. PA
  • Eddie Hearn with Anthony Joshua during the press conference. Getty
    Eddie Hearn with Anthony Joshua during the press conference. Getty
  • Anthony Joshua and Oleksandr Usyk face off. Getty
    Anthony Joshua and Oleksandr Usyk face off. Getty
  • World heavyweight boxing champion Anthony Joshua. Getty
    World heavyweight boxing champion Anthony Joshua. Getty
  • Anthony Joshua and Oleksandr Usyk face off. PA
    Anthony Joshua and Oleksandr Usyk face off. PA
  • Anthony Joshua and Ukraine's Oleksandr Usyk. AFP
    Anthony Joshua and Ukraine's Oleksandr Usyk. AFP

Eddie Hearn looks ahead to a successful future with Anthony Joshua - starting against Usyk


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There was a time when filling a huge stadium felt like the norm for Eddie Hearn. This week it feels like a relief. It will take some time for the affects of the pandemic to pass into history, but for now it feels like boxing is back.

Anthony Joshua has always been a draw, but when he steps into the ring to defend his WBA, WBO and IBF heavyweight titles against Oleksandr Usyk in front of 68,000 fans at the Tottenham Hotspur Stadium in North London on Saturday, it will seems like the good times are back.

The last time Joshua boxed, against Kubrat Pulev in December, only 1,000 people were allowed in to the 10,000-seater Wembley Arena. Even that felt like a big deal at the time in a brief window between lockdowns in the UK.

Joshua is used to boxing in big stadiums – he has sold out Wembley Stadium twice and has had two full houses at the Principality Stadium – the Welsh national rugby stadium. But after restrictions were lifted in the summer, Hearn, Joshua’s promoter, was concerned as to whether fans would be keen to return in big numbers.

“It is massive,” Hearn said. “AJ is AJ and he is always going to sell, but it was so exciting the way it went. The tickets went in the first couple of hours. We could have done 200,000 tickets, we had 54,000 online in a queue for the tickets.

“We saw 20,000 fans at Leeds for Josh Warrington, we saw this, Liam Smith-Anthony Fowler in Liverpool on October 9 is sold out, for Dillian Whyte-Otto Wallin on October 30, the pre-sale was huge.

“The great thing for us is seeing people willing to come out again. My worry was that the longer this went on, people would think ‘I’ve got used to just having a barbecue, I don’t want to go to an arena with lots of people’.”

It has been a big week for Hearn, as Joshua, whom he has promoted since his professional debut in 2013, signed a new promotional deal to cover the rest of his professional career, which the way the 32-year-old heavyweight talks could last for as much as another eight years.

“For our business it is hugely important,” Hearn said. “I believe we could have had a handshake deal that would have lasted forever, but to cement it in writing for the business is massive. He is the biggest star in British boxing, arguably the biggest star in world boxing.

“He is our ambassador, when he sits up there and says ‘this is the best place for me to be, Matchroom are the best promotional outfit in the world’, there are no better credentials for us for young fighters to see.

“We were looking at pictures of when he made his debut. We were both wearing these silly waistcoats and we were both kids, really. I didn’t know what I was doing, I thought I did. And he said ‘I was the same, I was useless’.

“It is only now that you get to understand the game, him, in particular, as a fighter. He now talks like a seasoned pro, rather than someone who is just big and strong and up there and athletic. The journey has been amazing.”

Both will be banking on that journey not ending this weekend against Usyk, the Ukrainian, who is arguably the best boxer Joshua has ever faced.

Joshua and Usyk train on media day

  • Anthony Joshua trains at the O2 Arena in London ahead of his WBA, WBO, IBF and IBO world heavyweight title fight against Oleksandr Usyk on Saturday, September 25. Getty
    Anthony Joshua trains at the O2 Arena in London ahead of his WBA, WBO, IBF and IBO world heavyweight title fight against Oleksandr Usyk on Saturday, September 25. Getty
  • Oleksandr Usyk during the media day at the O2 Arena on Tuesday, September 21. PA
    Oleksandr Usyk during the media day at the O2 Arena on Tuesday, September 21. PA
  • Anthony Joshua trains at the O2 Arena in London. Getty
    Anthony Joshua trains at the O2 Arena in London. Getty
  • Oleksandr Usyk puts his juggling skills to test during training. Getty
    Oleksandr Usyk puts his juggling skills to test during training. Getty
  • Trainer Robert McCracken looks with Anthony Joshua in the ring. Getty
    Trainer Robert McCracken looks with Anthony Joshua in the ring. Getty
  • Anthony Joshua poses for a photo in London. Getty
    Anthony Joshua poses for a photo in London. Getty
  • Oleksandr Usyk poses during the training session in London. Getty
    Oleksandr Usyk poses during the training session in London. Getty
  • Anthony Joshua and promoter Eddie Hearn, right. Getty
    Anthony Joshua and promoter Eddie Hearn, right. Getty
  • Oleksandr Usyk in London. Getty
    Oleksandr Usyk in London. Getty
  • Anthony Joshua during the media day. PA
    Anthony Joshua during the media day. PA
  • Oleksandr Usyk stretches during training. Getty
    Oleksandr Usyk stretches during training. Getty
  • Anthony Joshua shadow boxes at training. Reuters
    Anthony Joshua shadow boxes at training. Reuters

London is a favourite city of Usyk, 34, who won heavyweight gold at the Olympics here in 2012, the days before Joshua claimed the super-heavyweight gold medal. As a professional, he unified all four parts of the world cruiserweight title before stepping up to heavyweight, where he has won both his fights to date.

Whether he can cope with the strength and power of a heavyweight of Joshua’s standing is the big question. A fight with Tyson Fury – who defends his WBC title against Deontay Wilder in Las Vegas on October 9 – is the potential reward, but Usyk cannot be overlooked.

“It is such a tough, big fight,” Hearn said. “One of the good things is not a lot of people are talking about AJ-Fury, because they are talking about this fight, which really makes a change. If you think about it - AJ-Pulev, AJ-Andy Ruiz 2 a little bit but definitely AJ-Ruiz 1, all they were talking about was Wilder or Fury and the undisputed title. Now people are going ‘this is a real fight’.

“The aim and the goal will always to be undisputed champion, but I just hope people give AJ the credit he deserves if he wins on Saturday, because his resume is incredible and not enough people talk about it.

“This is the last mandatory that we have due for a bit, then we have a clear run to say ‘let’s just make this fight’ with Fury. But let’s see if Fury fights first and, hopefully, he wins.”

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.”

Fixtures

Friday Leganes v Alaves, 10.15pm; Valencia v Las Palmas, 12.15am

Saturday Celta Vigo v Real Sociedad, 8.15pm; Girona v Atletico Madrid, 10.15pm; Sevilla v Espanyol, 12.15am

Sunday Athletic Bilbao v Getafe, 8.15am; Barcelona v Real Betis, 10.15pm; Deportivo v Real Madrid, 12.15am

Monday Levante v Villarreal, 10.15pm; Malaga v Eibar, midnight

Charlotte Gainsbourg

Rest

(Because Music)

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Updated: September 24, 2021, 12:12 PM