Basketball fans in the UAE can look forward to watching the best players on the planet live in Abu Dhabi after the NBA and the Department of Culture and Tourism — Abu Dhabi announced a multiyear partnership on Tuesday, with two pre-season games scheduled for October 2022.
Those pre-season games will be the first time NBA teams have played in the Gulf region. The participating teams will be announced at a later date.
The partnership was signed by DCT Abu Dhabi chairman Mohamed Khalifa Al Mubarak and NBA deputy commissioner and chief operating officer Mark Tatum, and was witnessed by Sheikh Khaled bin Mohamed bin Zayed, a member of Abu Dhabi Executive Council and chairman of Abu Dhabi Executive Office.
In addition to the pre-season games, the partnership will see the NBA and DCT Abu Dhabi work together to expand basketball in the UAE and across the region. Junior NBA Leagues for boys and girls will be launched at schools and academies throughout the Emirates, while NBA Fit Clinics will encourage and promote health and wellness for citizens and residents.
Basketball fans in the UAE will also get opportunities to meet current and former NBA players through interactive fan events and coaching clinics, and there will be an NBA 2K League exhibition event.
“The appeal for the NBA was we have a big fanbase here, around three million fans in the UAE," Tatum said. "Secondly, when we look to bring our games outside of the United States, we look for world class facilities and Abu Dhabi has those. The Etihad Arena is as nice as any NBA arena I have been to around the world.
"Thirdly, we look for partners that have the experience of hosting world class events and there is no doubt that Abu Dhabi has done that, whether it’s Formula One, professional golf and tennis championships, Special Olympics – this place knows how to host and put on world class events, which NBA games are. So those are some of the reasons why we chose Abu Dhabi as the destination."
The deal with the NBA is the latest significant partnership with a major sports organisation for DCT Abu Dhabi and continues the ongoing efforts to transform the capital into a major international sports hub.
The emirate has already become the international home of the UFC, hosts the Formula One season finale, the Etihad Airways Abu Dhabi Grand Prix, and stages the European Tour season opener, the Abu Dhabi HSBC Championship, among many other international sports and entertainment events.
“We’re very proud to have this multiyear partnership and that goes beyond that game," said Ali Hassan Al Shaiba, executive director of Tourism and Marketing at DCT Abu Dhabi. "We have shared values with the NBA; values of tolerance, diversity, teamwork – all these things reflect our communities in Abu Dhabi and the UAE.
"Positioning Abu Dhabi as a hub for world class sports events in the region is something that we were looking for and having the NBA as part of our portfolio will definitely add value.
"But it’s more about community development, talent development, the whole ecosystem, it’s not just about the games. We have common values and we have many things to work on for the future. This is just the beginning."
A key component of that community development will be focused on grassroots basketball and the junior NBA Leagues. Coaches with NBA and top-level junior basketball experience will visit Abu Dhabi to share their expertise, with the ultimate goal of helping identify NBA-worthy talent from the region.
"Once we have all these coaches come to Abu Dhabi to work with different teams here and to bring the culture of the NBA to the region, I believe we will start to see new talents and new fans," Al Shaiba said. "Kids have that dream of reaching the NBA but we need to create that environment for them. It is a process, and it will take time, but we are building the foundations for the next generation."
While still too early to confirm which teams will be participating in the first pre-season games in Abu Dhabi next October, Tatum said there has been a great response from players keen to make the trip to the UAE.
"We’ve been in conversation with lots of teams and they have raised their hands and said they want to come and play games in Abu Dhabi," he said. "It will be a cooperative process with our partners here to figure out the first two teams, and the two teams after that, but there is no shortage of interest from NBA teams."
The NBA is no stranger to staging games outside of North America, with regular season games held in London, Paris, and Mexico City over the past few years. However, travel logistics mean that for now, only pre-season games will take place in Abu Dhabi.
"We understand the fans would love to see regular season games," Tatum said. "I think we have to deal with the practical issues of having teams travel far distances in the middle of the season. That is a challenge for us. It doesn’t mean it can’t be overcome.”
Additionally, the NBA were keen to stress that their involvement in Abu Dhabi will be year-round and not solely focused on the games, while insisting that pre-season games will be more beneficial to basketball fans in the UAE as players will be more accessible.
"Obviously around the game week, there will be a significant set of activities, we’ll have our players out and about in the community in addition to playing the game," said Ralph Rivera, managing director of NBA Europe and Middle East.
"But throughout the year we will have other events where we bring talent and legends over. This is holistic and not just about a game. That is the way we make a sustainable impact in the community."
Tatum added: "The benefit of doing the games here in pre-season is that our players can spend more time here. As Ralph mentioned, in the lead-up to those games they are going to be in the community, working with kids, they are going to be very present and visible.
"With regular season games, it’s hard to do that. Because the schedule is so condensed, they have to be in and out, so that was one of the reasons why pre-season is beneficial."
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Wednesday (Kick-offs UAE)
FC Copenhagen (0) v Istanbul Basaksehir (1) 8.55pm
Shakhtar Donetsk (2) v Wolfsburg (1) 8.55pm
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Thursday
Bayer Leverkusen (3) v Rangers (1) 8.55pm
Sevilla v Roma (one leg only) 8.55pm
FC Basel (3) v Eintracht Frankfurt (0) 11pm
Wolves (1) Olympiakos (1) 11pm
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1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
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3. Gareth Bale - to Real Madrid in 2013/14 - €101m
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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
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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.”
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Sadio Mane (Senegal/Liverpool), Sergio Aguero (Aregentina/Manchester City), Frenkie de Jong (Netherlans/Barcelona), Hugo Lloris (France/Tottenham), Dusan Tadic (Serbia/Ajax), Kylian Mbappe (France/PSG), Trent Alexander-Arnold (England/Liverpool), Donny van de Beek (Netherlands/Ajax), Pierre-Emerick Aubameyang (Gabon/Arsenal), Marc-Andre ter Stegen (Germany/Barcelona), Cristiano Ronaldo (Portugal/Juventus), Alisson (Brazil/Liverpool), Matthijs de Ligt (Netherlands/Juventus), Karim Benzema (France/Real Madrid), Georginio Wijnaldum (Netherlands/Liverpool), Virgil van Dijk (Netherlands/Liverpool), Bernardo Silva (Portugal/Manchester City), Son Heung-min (South Korea/Tottenham), Robert Lewandowski (Poland/Bayern Munich), Roberto Firmino (Brazil/Liverpool), Lionel Messi (Argentina/Barcelona), Riyad Mahrez (Algeria/Manchester City), Kevin De Bruyne (Belgium/Manchester City), Kalidou Koulibaly (Senegal/Napoli), Antoine Griezmann (France/Barcelona), Mohamed Salah (Egypt/Liverpool), Eden Hazard (BEL/Real Madrid), Marquinhos (Brazil/Paris-SG), Raheem Sterling (Eengland/Manchester City), Joao Félix(Portugal/Atletico Madrid)
Women
Sam Kerr (Austria/Chelsea), Ellen White (England/Manchester City), Nilla Fischer (Sweden/Linkopings), Amandine Henry (France/Lyon), Lucy Bronze(England/Lyon), Alex Morgan (USA/Orlando Pride), Vivianne Miedema (Netherlands/Arsenal), Dzsenifer Marozsan (Germany/Lyon), Pernille Harder (Denmark/Wolfsburg), Sarah Bouhaddi (France/Lyon), Megan Rapinoe (USA/Reign FC), Lieke Martens (Netherlands/Barcelona), Sari van Veenendal (Netherlands/Atletico Madrid), Wendie Renard (France/Lyon), Rose Lavelle(USA/Washington Spirit), Marta (Brazil/Orlando Pride), Ada Hegerberg (Norway/Lyon), Kosovare Asllani (Sweden/CD Tacon), Sofia Jakobsson (Sweden/CD Tacon), Tobin Heath (USA/Portland Thorns)