Liverpool forward Raheem Sterling is set to rock the Premier League club by telling them he wants to leave in the close-season, according to reports on Monday.
Sterling and his agent Aidy Ward put contract negotiations on hold earlier this season despite being given what Liverpool manager Brendan Rodgers described as a “fantastic offer”.
It was reported that offer would have increased the 20-year-old’s wages to around £100,000-a-week (Dh575,252) and, in response to mounting criticism of his attitude from frustrated Liverpool fans, the England international was forced onto a public relations offensive in which he denied he was a “money-grabber”.
But Liverpool have been unable to convince their prize asset to sign the new deal and the BBC and the Daily Express say Sterling and his agent have asked to meet Rodgers and club chief executive Ian Ayre, possibly as soon as Friday, for showdown talks when he is expected to demand a move.
RELATED
– The National’s Transfer Talk page
Former Liverpool star Jamie Carragher was left seething as the reports came out.
Carragher told Sky Sports 1: “The thing I don’t like about it, for a 20-year-old kid to be taking on Liverpool FC over a contract, to the pit of my stomach it just angers me.
“It looks like a tactic to me to try to force the club’s hand.
“I can’t get out of my head a young kid and his agent trying to take the club on. You keep your mouth shut and get on with playing football. How will he be thought of?”
Sterling is believed to want to play in the Champions League and Liverpool will be missing from Europe’s elite club competition next term after a disappointing Premier League campaign, which sees them in fifth place, seven points behind fourth placed Manchester United, heading into the final round of fixtures.
Manchester City are said to be interested in signing Sterling, with Real Madrid, Arsenal and Chelsea also reported to be watching the situation with interest.
Liverpool are believed to be determined to hold onto the youngster, whose current contract runs until 2017, and US-based owners Fenway Sports Group will demand a fee of around £50 million before they would consider selling.
Sterling’s bombshell announcement is another blow to Rodgers, who has struggled to replace Luis Suarez following the Uruguay forward’s move to Barcelona last year.
Rodgers has also had to cope with the continued injury problems of England striker Daniel Sturridge, while also planning for life without captain Steven Gerrard, who will end his 17-year association with Liverpool when he joins LA Galaxy at the end of the season.
“Liverpool had a chance of trophy this year, in the (FA Cup) semi-final against Aston Villa – where was Raheem Sterling?” added Carragher.
“What did Liverpool do in the Champions League this year? Nothing. What did Raheem Sterling do? Nothing.
“The semi-final was one of the worst performances I’ve ever seen from a Liverpool team in a big game – not just him, the whole team were found wanting, but if he wants to win trophies he’s got to deliver in big games, and he hasn’t done that yet.
“I played with him and he’s a great kid. He’s not some flash young kid, he loves his football.
“I think for his football development, he needs to stay at Liverpool. He doesn’t need to move club – he needs to change his agent, that’s what he needs to change.”
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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.”
MATCH INFO
Uefa Champions League semi-finals, first leg
Liverpool v Roma
When: April 24, 10.45pm kick-off (UAE)
Where: Anfield, Liverpool
Live: BeIN Sports HD
Second leg: May 2, Stadio Olimpico, Rome
MATCH INFO
Manchester United v Manchester City, Wednesday, 11pm (UAE)
Match is on BeIN Sports
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
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Selected fixtures
All times UAE
Wednesday
Poland v Portugal 10.45pm
Russia v Sweden 10.45pm
Friday
Belgium v Switzerland 10.45pm
Croatia v England 10.45pm
Saturday
Netherlands v Germany 10.45pm
Rep of Ireland v Denmark 10.45pm
Sunday
Poland v Italy 10.45pm
Monday
Spain v England 10.45pm
Tuesday
France v Germany 10.45pm
Rep of Ireland v Wales 10.45pm
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
Essentials
The flights
Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
WISH
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Jebel Ali Dragons 26 Bahrain 23
Dragons
Tries: Hayes, Richards, Cooper
Cons: Love
Pens: Love 3
Bahrain
Tries: Kenny, Crombie, Tantoh
Cons: Phillips
Pens: Phillips 2
The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
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