Premier League season shapers: Manchester City’s Raheem Sterling, the big money mover


Richard Jolly
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With the 2015/16 English Premier League season a matter of weeks away, Richard Jolly identifies the six players who, each in their own way, will shape the 2015/16 campaign. Here he looks at Manchester City’s Raheem Sterling, the big mover.

The first time Raheem Sterling attempted to beat a man while wearing a Manchester City shirt, he trod on the ball, stumbled and lost his footing. The first time he tried to shoot, he had the composure and the class to place the ball into the Roma net.

For those who were seeking signs or moments of symbolic significance, the opening three minutes of his friendly debut provided both.

Is Sterling the overrated youngster with a high price tag and a surfeit of confidence but one who has yet to actually achieve anything? Or is he the fast starter whose talents have propelled him to prominence at a tender age and whose notoriety stems from the reality that his mistakes have been made in public, whereas other youngsters’ errors are obscured by their anonymity?

Truth be told, he is both.

Sterling was the recipient of the Golden Boy award in 2014, which is given to the brightest prospect in European football, but he has yet to win a trophy in his career. He briefly lit up the 2014 Fifa World Cup, terrorising Italy for an hour, but England still lost the game and made an ignominiously early exit from Brazil.

He was the youngest of the cast of intrepid attackers who almost propelled Liverpool to the Premier League title in improbable fashion, yet his form was decidedly mixed in the slump to sixth the following season. He has commanded one of the dozen highest fees in football history and struck three times in three pre-season games for City, but he has never scored a Uefa Champions League goal.

He had the chance to become Liverpool’s figurehead, at age 20, after Steven Gerrard. Instead, his Anfield career concluded in a 6-1 defeat to Stoke City when he was an unused substitute and he was booed by supporters at Liverpool’s annual honours. His exit was acrimonious, following some particularly undignified mud-slinging.

Sterling’s argument is that ambition drove him to City. The claim on Merseyside is that greed led to his exit. As is often the case in such situations, opinions have been subjected to revisionist thinking. Sterling’s advocates are now his detractors.

Traits such as fearlessness and confidence that brought him admirers are now seen as signs of an arrogance and an ingratitude towards Liverpool. What is undeniable is that they have been well compensated for their part in his development. His £49 million (Dh281.3m) transfer fee reflects the inflated price of buying British, not to mention the cost of signing players from championship rivals.

City have paid handsomely for potential. Some might say that Liverpool profited by talking up a talent.

Sterling, his former manager Brendan Rodgers said in April 2014, is “the best young player in European football at the moment”. That was the month when Sterling sent Vincent Kompany and Joe Hart the wrong way with remarkable ease when firing Liverpool ahead against City at Anfield, the month after he had tormented Manchester United, a squat, stocky sprinter somehow reinvented as a No 10.

Team guide: A Manchester City in transition, but still ultra-talented

When he next visited Old Trafford, however, a winger was pressed into service as a striker. This time, Sterling suffered the ordeal. David de Gea denied him time and again, highlighting the imperfections in his finishing. His tenure at Liverpool yielded 23 goals from 129 games, a return that was more promising than prolific.

As City opt for a one-striker system, with Sergio Aguero set to be deployed alone in attack, it is more significant that midfielders chip in with goals. Sterling is the man signed to stretch defences, both laterally and vertically.

“He has the speed that we don’t have so we have a different way of playing. He’s the player we need,” City manager Manuel Pellegrini said.

Certainly, Sterling’s age and nationality make him stand out in a City squad that is often accused of being too old and too dominated by foreign players. Yet the hope is that opposites attract. The best form of his career came alongside Luis Suarez. City have a sizeable contingent of world-class players.

Pellegrini said: “I think he will improve a lot in the future, playing with Yaya Toure, David Silva and Sergio Aguero.”

It is significant that the most expensive player in the club’s history is seen as a work in progress. His teammates are the finished article. City boast a World Cup winner and finalists, a four-time African Player of the Year and a contingent of proven winners.

They have the honours, Sterling more to prove. His CV is notable for distinctions, good and bad, within his age group.

He was the third-youngest footballer to represent Liverpool and the youngest to be sent off playing for England. He has twice been shortlisted for the PFA Young Player of the Year award. He has scored more goals than either Frank Lampard or Gerrard had at the same age.

Yet the contradictions in his career make his character more compelling, and the toxic nature of his transfer means he will be judged as a £49m man, not a 20-year-old talent.

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Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

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Jersey 147 (20 overs) 

UAE 112 (19.2 overs)

Jersey win by 35 runs

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
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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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