The UAE is among the Gulf countries in the running to host the crossover fight between Conor McGregor and Manny Pacquiao, with the management company driving negotiations saying talks to get the bout signed are developing at pace.
McGregor, one of sport's most high-profile athletes, created major headlines late on Friday when announcing on social media that he was coming out of retirement to face Pacquiao in a boxing match in the Middle East.
The Irishman, a two-division UFC champion, had called time on his fight career in June – the third time he has done so in four years. He last competed in January, defeating Donald Cerrone within 40 seconds of his UFC return in Las Vegas. Meanwhile, Pacquiao has not fought since July last year.
On Saturday, the eight-division champion’s camp responded to the McGregor news, with a statement from the Philippine senator’s office reading: “For the sake of all the Filipino Covid-19 victims, Senator Manny Pacquiao will be fighting UFC superstar Conor McGregor next year.
“The huge portion of his earnings will proceed to those who are affected nationwide by the pandemic.”
Speaking to The National on Saturday, Paradigm Sports Management, who represent both McGregor and Pacquiao, said there was significant interest from inside and outside the Middle East to host the fight, with the UAE among those in contention.
“It’s certainly an option,” said Azhar Muhammad Saul, senior vice president of strategy and business development at Paradigm. “Of course there’s two or three countries that you’d normally expect here. If you narrow down the scope geographically, it’s the GCC. It’s one of a few markets that are interested.
"We’re deep in negotiations with multiple parties now and we’re confident either at the end of the year or early next year that the super fight will take place.”
Muhammad Saul said the date would be determined by the fight location. Pacquiao, the current WBA (Super) welterweight champion, has for some time been linked with competing in the region, with the UAE, Saudi Arabia and Bahrain previously mooted.
“Realistically we’re looking at a window between the end of December to early January," Muhammad Saul said. "Depending on which location the fight takes place will determine what date it will happen, because different countries have different event obligations, Covid-19 protocols, travel and so on and so forth.
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Manny Pacquiao's win over Keith Thurman - in pictures
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“A fight of this magnitude, we see this as something to give back to the wider population. It’s a gift really. You can think about it in two ways: it’s been a tough year for everybody and to have such a major super fight happening just uplifts everyone. We’re looking at maximising that from an events point of view.”
Muhammad Saul said the fight, which is expected to headline an impressive card, would ideally take place with fans in attendance, but that all those involved in the deal were “cognisant of the world that we’re living in at the moment”.
On how Paradigm’s relationship with both fighters makes an agreement more likely, Muhammad Saul said: “It certainly helps as we acknowledge the appetite from both sides. Both fighters want it. We also work closely with the UFC and had a meeting about this match-up and they are on board as well. Manny’s motivation is to give back to the community - he sees this as a form of giving back to the people.
“Conor’s activity was never in question; he always wanted to fight. The three-fight season was not rhetoric, it was something he was deeply committed to. In light of the pandemic, Conor has spent this period giving back to his community and focusing his time on his businesses and philanthropic endeavors, while staying active and fit.
“Conor’s looking forward to getting back on track with his personal goals and giving the fans of the world a fight for the ages, while seeing in the dawn of better times for all in 2021.”
Audie Attar, Paradigm’s founder and CEO, added: “Like we say, you should stay ready so you don’t have to get ready. It’s a very fluid situation, but we’re deep in negotiations with a number of different parties.
“Our expectation is to get this thing wrapped up quickly so we can start the lead-up and the build-up to it. You saw Conor release some video of him in the ring yesterday, so he’s already in great shape as it is.
“I’ve come to learn that Manny is one of the greatest fighters of all time for a reason: he’s a machine. He’s not only a senator doing the State’s work day-in, day-out for his beloved country, but training is a fundamental part of his life.
“They’ve both been keeping fit, active and healthy so they’ll want to get into camp quite quickly. So I’d say stay tuned.”
McGregor has already been involved in a boxing match, when in 2017 he took on the unbeaten Floyd Mayweather Jr in a money-spinning bout at the T-Mobile Arena in Nevada. Mayweather won by TKO in the 10th round.
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Maestro
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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.”
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
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Fixture and table
UAE finals day: Friday, April 13 at Rugby Park, Dubai Sports City
- 3pm, UAE Conference: Dubai Tigers v Sharjah Wanderers
- 6.30pm, UAE Premiership: Dubai Exiles v Abu Dhabi Harlequins
UAE Premiership – final standings
- Dubai Exiles
- Abu Dhabi Harlequins
- Jebel Ali Dragons
- Dubai Hurricanes
- Dubai Sports City Eagles
- Abu Dhabi Saracens
FIXTURES
December 28
Stan Wawrinka v Pablo Carreno Busta, 5pm
Milos Raonic v Dominic Thiem, no earlier then 7pm
December 29 - semi-finals
Rafael Nadal v Stan Wawrinka / Pablo Carreno Busta, 5pm
Novak Djokovic v Milos Raonic / Dominic Thiem, no earlier then 7pm
December 30
3rd/4th place play-off, 5pm
Final, 7pm
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Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Notable salonnières of the Middle East through history
Al Khasan (Okaz, Saudi Arabia)
Tamadir bint Amr Al Harith, known simply as Al Khasan, was a poet from Najd famed for elegies, earning great renown for the eulogy of her brothers Mu’awiyah and Sakhr, both killed in tribal wars. Although not a salonnière, this prestigious 7th century poet fostered a culture of literary criticism and could be found standing in the souq of Okaz and reciting her poetry, publicly pronouncing her views and inviting others to join in the debate on scholarship. She later converted to Islam.
Maryana Marrash (Aleppo)
A poet and writer, Marrash helped revive the tradition of the salon and was an active part of the Nadha movement, or Arab Renaissance. Born to an established family in Aleppo in Ottoman Syria in 1848, Marrash was educated at missionary schools in Aleppo and Beirut at a time when many women did not receive an education. After touring Europe, she began to host salons where writers played chess and cards, competed in the art of poetry, and discussed literature and politics. An accomplished singer and canon player, music and dancing were a part of these evenings.
Princess Nazil Fadil (Cairo)
Princess Nazil Fadil gathered religious, literary and political elite together at her Cairo palace, although she stopped short of inviting women. The princess, a niece of Khedive Ismail, believed that Egypt’s situation could only be solved through education and she donated her own property to help fund the first modern Egyptian University in Cairo.
Mayy Ziyadah (Cairo)
Ziyadah was the first to entertain both men and women at her Cairo salon, founded in 1913. The writer, poet, public speaker and critic, her writing explored language, religious identity, language, nationalism and hierarchy. Born in Nazareth, Palestine, to a Lebanese father and Palestinian mother, her salon was open to different social classes and earned comparisons with souq of where Al Khansa herself once recited.
Read more from Aya Iskandarani
The five pillars of Islam
Emirates Cricket Board Women’s T10
ECB Hawks v ECB Falcons
Monday, April 6, 7.30pm, Sharjah Cricket Stadium
The match will be broadcast live on the My Sports Eye Facebook page
Hawks
Coach: Chaitrali Kalgutkar
Squad: Chaya Mughal (captain), Archara Supriya, Chamani Senevirathne, Chathurika Anand, Geethika Jyothis, Indhuja Nandakumar, Kashish Loungani, Khushi Sharma, Khushi Tanwar, Rinitha Rajith, Siddhi Pagarani, Siya Gokhale, Subha Srinivasan, Suraksha Kotte, Theertha Satish
Falcons
Coach: Najeeb Amar
Squad: Kavisha Kumari (captain), Almaseera Jahangir, Annika Shivpuri, Archisha Mukherjee, Judit Cleetus, Ishani Senavirathne, Lavanya Keny, Mahika Gaur, Malavika Unnithan, Rishitha Rajith, Rithika Rajith, Samaira Dharnidharka, Shashini Kaluarachchi, Udeni Kuruppuarachchi, Vaishnave Mahesh
