Even in the process of being acquired by Sheikh Mansour bin Zayed, Manchester City managed to scoop up the Brazilian star Robinho from under the nose of Chelsea's Roman Abramovich in a record deal.
It's one thing to be an avid football fan, watching the beautiful game from an armchair or terrace; it's quite another to be in a position to buy one of the sport's sleeping giants and shape policy for a club that plays in the world's best league.
Yet that is the position in which Manchester City's chairman, Khaldoon al Mubarak, finds himself. And while it is a coveted and influential post, Mr al Mubarak admits to a keen sense of responsibility to football and fans.
He filled the hot seat last September when Sheikh Mansour bin Zayed purchased the blue half of Manchester and gave him the daunting job of running it.
"I've always been a football fan and the Premier League was always my favourite league," he said from his Abu Dhabi office yesterday. "Ask any fan what would be their dream job when they retire and it would be chairman of a football club.
"It never crossed my mind that it was ever going to be a possibility though, so when Sheikh Mansour decided to move ahead with the purchase it was amazing."
Besides being involved in every aspect of Manchester City's affairs, from transfers to the development of new facilities, Mr al Mubarak is also the chief executive of Abu Dhabi's Mubadala Development Company.
Although a busy man, he has continuously shuttled back and forth from Abu Dhabi to Manchester for the past nine months. News of Sheikh Mansour's acquisition coincided with the announcement that the Brazilian international Robson de Souza, known as Robinho, had also been signed for £32.5 million (Dh196m) - a British transfer fee record last year.
"That was a key signing for many reasons," said Mr al Mubarak. "First, Sheikh Mansour comes in, he's the new owner, but for the fans his intentions may not have been clear. People don't know whether it's going to remain a mid-table club, is it going to drift to the bottom or are we going to compete for the Premier League? The other question for people was that even with considerable financial commitment, can Manchester City attract a top-tier player?
"It was a statement of intent from Sheikh Mansour; he bought the club and bought in a top-notch player that Chelsea were on the verge of signing."
He added: "It was crazy, put it that way. He was not metres away - I would say inches away from signing for Chelsea and that arrangement with Robinho was a huge coup for us."
Following Robinho were Wayne Bridge, Shay Given, Craig Bellamy and Nigel de Jong, signings that Mr al Mubarak says had an immediate on-field impact.
"First we got Robinho and he was followed by four other players," said the chairman.
"The key for us in the January transfer window was to bring balance to the squad."
The driving force for any City purchase is the manager, Mark Hughes. Mr al Mubarak said a team had been built around the former Wales international and Manchester United forward to facilitate signings, including the addition of the former Arsenal winger, Brian Marwood, as football administrator.
"Our transfer process is very simple," said Mr al Mubarak. "We have Mark and his team who take football decisions, we have Gary Cook and myself on the management side and Sheikh Mansour as the owner.
"Mark decides on gaps in the squad and makes recommendations on players that would fill the gaps. He comes to me and gives me option A, B or C for a certain position. With each player there's a different value and it's up to us to work with Sheikh Mansour, determine a budget and see which player fits best."
Mr al Mubarak said one of the hardest lessons to learn as chairman was to detach from the emotion of the game.
"It's very hard to instill a sense of discipline in yourself," he said. "I'm a big football fan, and if you think I'm passionate, then Sheikh Mansour takes it to another level.
"He's a sportsman and he understands football, but we realise that when it comes to the club you have to have a business-like attitude. Passion and emotion can sometimes leave you making decisions that are not right."
Instead, a long-term view was required, as was the ability to accept the lows with the highs.
"Unlike in business, things are very different in football. In business you can have the right structure, the right positions, the right business plan and you can to a certain extent control how it performs.
"In football you can have the perfect 11 players, a home draw on a sunny afternoon with the greatest manager in the world against an inferior side and you can still lose.
"You have to focus on your plan and understand that in the season there will be ups and downs."
Yet it is a passion to succeed that drives Mr al Mubarak.
"Sheikh Mansour is someone that you would definitely classify as competitive and a winner," he said.
"We are not in this to just make up numbers. We are here to win and build a club that is going to compete and be in a position to win trophies. There's no question of that and what we do this summer will set the tone of that very clearly."
stregoning@thenational.ae
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Tentative schedule of 2017/18 Ashes series
1st Test November 23-27, The Gabba, Brisbane
2nd Test December 2-6, Adelaide Oval, Adelaide
3rd Test Dcember 14-18, Waca, Perth
4th Test December 26-30, Melbourne Cricket Ground, Melbourne
5th Test January 4-8, Sydney Cricket Ground, Sydney
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
WTL%20SCHEDULE
%3Cp%3EDECEMBER%2019%20(6pm)%0D%3Cbr%3EKites%20v%20Eagles%0D%3Cbr%3EAliassime%20v%20Kyrgios%0D%3Cbr%3ESwiatek%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Tiesto%3C%2Fp%3E%0A%3Cp%3EDECEMBER%2020%20(6pm)%0D%3Cbr%3EFalcons%20v%20Hawks%0D%3Cbr%3EDjokovic%20v%20Zverev%0D%3Cbr%3ESabalenka%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Wizkid%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2021%20(6pm)%0D%3Cbr%3EFalcons%20v%20Eagles%0D%3Cbr%3EDjokovic%20v%20Kyrgios%0D%3Cbr%3EBadosa%20v%20Garcia%0D%3Cbr%3EEntertainment%3A%20Ne-Yo%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2022%20(6pm)%0D%3Cbr%3EHawks%20v%20Kites%0D%3Cbr%3EThiem%20v%20Aliassime%0D%3Cbr%3EKontaveit%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20deadmau5%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(2pm)%0D%3Cbr%3EEagles%20v%20Hawks%0D%3Cbr%3EKyrgios%20v%20Zverev%0D%3Cbr%3EGarcia%20v%20Rybakina%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2023%20(6pm)%0D%3Cbr%3EFalcons%20v%20Kites%0D%3Cbr%3EDjokovic%20v%20Aliassime%0D%3Cbr%3ESabalenka%20v%20Swiatek%0D%3Cbr%3EEntertainment%3A%20Mohammed%20Ramadan%0D%3Cbr%3E%0D%3Cbr%3EDECEMBER%2024%20(6pm)%0D%3Cbr%3EFinals%0D%3Cbr%3EEntertainment%3A%20Armin%20Van%20Buuren%0D%3Cbr%3E%0D%3C%2Fp%3E%0A
Who has lived at The Bishops Avenue?
- George Sainsbury of the supermarket dynasty, sugar magnate William Park Lyle and actress Dame Gracie Fields were residents in the 1930s when the street was only known as ‘Millionaires’ Row’.
- Then came the international super rich, including the last king of Greece, Constantine II, the Sultan of Brunei and Indian steel magnate Lakshmi Mittal who was at one point ranked the third richest person in the world.
- Turkish tycoon Halis Torprak sold his mansion for £50m in 2008 after spending just two days there. The House of Saud sold 10 properties on the road in 2013 for almost £80m.
- Other residents have included Iraqi businessman Nemir Kirdar, singer Ariana Grande, holiday camp impresario Sir Billy Butlin, businessman Asil Nadir, Paul McCartney’s former wife Heather Mills.
Hunting park to luxury living
- Land was originally the Bishop of London's hunting park, hence the name
- The road was laid out in the mid 19th Century, meandering through woodland and farmland
- Its earliest houses at the turn of the 20th Century were substantial detached properties with extensive grounds
'The Batman'
Stars:Robert Pattinson
Director:Matt Reeves
Rating: 5/5
MATCH INFO
Champions League quarter-final, first leg
Ajax v Juventus, Wednesday, 11pm (UAE)
Match on BeIN Sports
COMPANY%20PROFILE
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory