Two years ago, when the co-founders of Abu Dhabi Saracens were hatching their plan for the future of their new club, it may have looked something like this.
Year 1: Earn promotion to the top flight of domestic rugby union and offer a viable alternative to Abu Dhabi Harlequins, who have a monopoly on the sport in the capital.
Year 2: Cement our place in the first tier, while maintaining a healthy second XV, too.
Year 3: World domination.
Why not think big? It may be stretching the truth to think the third point is going to be achieved anytime soon, even if the first team did manage a draw with Doha in their final preseason friendly on Friday.
But the capital’s youngest club will start their second season in the UAE Premiership this weekend knowing they have supporters around the world looking out for them.
During the summer, Abu Dhabi’s Saracens signed an agreement to join a global network of eight clubs under the umbrella of the London-based professional club of the same name.
As such, the capital outfit are set to have affiliates wearing the same colours and sharing the Saracens name in the United States, Brazil, China, UK, Malaysia, Tonga and Russia.
“We have a sense of belonging now,” said Dave Jackson, the president, who co-founded the club with Brett Bowie in 2011.
“When the idea of the global network was presented to us, it was an exciting time, because when we tried to establish the club here we faced a long road trying to get players just for one team.
“We managed to get promotion to the Premiership in our first season, then we had to fill the first team and second team. Now we want to get respect for what is going on in the community.”
Their imprint on the local rugby community could be helped significantly by the new deal.
Until now, Saracens have struggled to scratch the surface at youth-team level, given how mature the junior set-up is at their city rivals, Harlequins.
However, they now have a valuable incentive with which to lure young players. Every year, one or two of the top young players will be guaranteed a trial at the London club’s academy.
If they impress, there is the chance of a permanent place there and the possibility of professional terms at a club who won the English Premiership two seasons ago.
It is not a unique proposition.
For example, Iziq Foa’i, who plays for the Quins, will be welcomed back to the London Harlequins academy when school commitments permit, after impressing at a summer trial.
It is, however, an enticement that Saracens did not previously have. Furthermore, their senior players will benefit from tutelage from the London club’s paid coaching staff at least twice per year.
All of which is great for the Abu Dhabi club, but what do their English associates get out of it?
Why the UAE, given that the oval ball remains something of a niche sport here?
“As a club we like to be innovative and forward-thinking,” said Alex Bate, the manager of Saracens Global Network.
“Our view is that rugby is set to go through a phase now where there is huge potential for growth because of some key events. The World Cup in England will be the biggest ever. Most significantly, we have rugby in the sevens form going into the Rio 2016 Olympics, which is opening up rugby to a whole new market.
“Some very powerful new economies like Brazil and Russia are starting to put some serious funding into the sport, because they want medals.
“We see a big opportunity and we want to be at the forefront of it.”
Bate and Ed Griffiths, the London club’s chief executive, flew to Abu Dhabi on Sunday night after seeing Saracens beat Bath in the English Premiership.
For that fixture, Griffiths had the idea of offering any supporter with a Bath postcode a rebate on their admission fee if Gavin Henson, the celebrity rugby player and former Saracen, scored a point.
He did not.
It was the latest ploy to drive attendance, and thus revenue, by a club who are financially aware – hence their bid to lay down a marker in Abu Dhabi.
“Some sports brands, such as Manchester City, spend money aligning themselves with top clubs in America, for example,” Griffiths said.
“We are able to do this because there is a big wave coming through rugby and we want to align with top clubs in major developing economies.
“Abu Dhabi seemed a natural partner because it has this passion for sport. We want to build on the foundations Dave Jackson has laid.”
Although UAE participation in any Olympics sevens tournament is likely to be a pipe-dream for some while yet, Griffiths hopes the global network of Saracens clubs will be well represented at the Games.
“We want to provide as much support as we can to these clubs,” Griffiths said.
“The ideal would be to have maybe 50 Saracens players representing their respective countries in the Rio 2016 sevens tournament.
“By doing that, we will have developed something far more interesting than just a quirky little club in North London, we will have coverage around the world and impact positively on hundreds of thousands of people.”
Team profile
Coach Steve Botha
Captain Lele Tusitala
Key player Dougie Steele. The Scottish fly-half remained at Saracens despite being courted by some of the Dubai clubs in the summer.
In a nutshell They have made remarkable strides off the field in just over two years as a club, now the first team want to make a mark, too.
Saracens v Hurricanes, Zayed Sports City, 7pm
Dragons v Harlequins, Jebel Ali Centre of Excellence, 7pm
Wasps v Exiles, The Sevens, 7pm
pradley@thenational.ae
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Nepotism is the name of the game
Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad.
Oppenheimer
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Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
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Know your camel milk:
Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
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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 has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
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AT4 Ultimate, as tested
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Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
The 10 Questions
- Is there a God?
- How did it all begin?
- What is inside a black hole?
- Can we predict the future?
- Is time travel possible?
- Will we survive on Earth?
- Is there other intelligent life in the universe?
- Should we colonise space?
- Will artificial intelligence outsmart us?
- How do we shape the future?