Basketball needs a club world cup



With the NBA finals upon us, it is time to revisit the idea of a legitimate world club basketball championship. Why haven't the powers that be made this idea a priority? The popularity of this event seems so evident given this age of globalisation and the growth of basketball's global fan base. Both baseball and ice hockey have enjoyed considerable success with their world competitions featuring top professionals representing their countries of birth.

Baseball fans watched games taking place around the world, culminating in a final series in the United States. Ice hockey's world cup followed on the heels of the successful Canada Cup series and is slated to take place again in 2011. While basketball has similar events, such as the world championships for national teams, the sport also had a club world cup at one point. From 1966 to 1987, top clubs competed for the Intercontinental Cup and then from 1987 to 1999, top clubs, including the NBA's best, competed for the McDonald's Championship in Paris. These events no longer exist.

The winners of the NBA final have long been called the world champions. This misnomer was excusable because the league does have most of the top players in the world and as such it is within reason to make such claims of grandeur. With the faltering US economy and the devalued US dollar, the time is now to consider the possibility of reviving the event. For the first time in generations, the US-based basketball clubs are facing competition for their talent. Whereas in the past the NBA could offer top dollar to the world's best players, we may very well be entering an era where clubs in Europe, the Middle East and Asia are far more likely to have the funds to tempt them away. Last summer we had a glimpse of this possible scenario when the Greek club Olympiakos lured the then Atlanta Hawks forward Josh Childress. The Hawks were not prepared to offer the money the Greeks put forward.

As players travel farther afield to sign with the highest bidder, the NBA as a central hub of talent will cease to be the case. If the riches offered in leagues from Spain to Turkey to China do indeed sway top athletes, the NBA championships will eventually become just another regional league title. Simply put, the NBA are only a global league because they offer the most money. If this changes, basketball fans around the globe will become more and more inclined to want to see the best compete for a true world title.

The fact that in 2009 there is no cup-winners' series between the NBA and European league champions is a missed business opportunity. For the past few years, the NBA clubs have struggled to beat the European clubs in their friendly matches. While this is not to suggest the NBA and European basketball are now on par, the disparity is becoming less significant. The International Basketball Federation (FIBA) have now planned a club world cup in 2010 in China, albeit without the participation of a European, NBA or Chinese league champion. It hardly seems worthwhile to run such an event without the involvement of the three most important basketball regions.

What is needed to pull off an event of this nature is: a big-time sponsor, a broadcasting network, the cooperation of both FIBA and the NBA, and an agreed location. This has all been done before. Given the economic climate, it is unlikely such an event could take place in the western world. Abu Dhabi is already set to host the Fifa Club World Cup. Why not add a basketball world cup to the list of world-class events in the UAE?

gdole@thenational.ae

MATCH INFO

Manchester United 1 (Fernandes pen 2') Tottenham Hotspur 6 (Ndombele 4', Son 7' & 37' Kane (30' & pen 79, Aurier 51')

Man of the match Son Heung-min (Tottenham)

Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

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'The Batman'

Stars:Robert Pattinson

Director:Matt Reeves

Rating: 5/5

Company%20Profile
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TRAP

Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

Director: M Night Shyamalan

Rating: 3/5

APPLE IPAD MINI (A17 PRO)

Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits

Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine

Storage: 128/256/512GB

Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

Front camera: 12MP ultra-wide, f/2.4, Smart HDR 4, full-HD @ 25/30/60fps

Biometrics: Touch ID, Face ID

Colours: Blue, purple, space grey, starlight

In the box: iPad mini, USB-C cable, 20W USB-C power adapter

Price: From Dh2,099

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COMPANY%20PROFILE
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The specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 849Nm

Range: 456km

Price: from Dh437,900 

On sale: now

BUNDESLIGA FIXTURES

Friday (all kick-offs UAE time)

Hertha Berlin v Union Berlin (10.30pm)

Saturday

Freiburg v Werder Bremen (5.30pm)

Paderborn v Hoffenheim (5.30pm)

Wolfsburg v Borussia Dortmund (5.30pm)

Borussia Monchengladbach v Bayer Leverkusen (5.30pm)

Bayern Munich v Eintracht Frankfurt (5.30pm)

Sunday

Schalke v Augsburg (3.30pm)

Mainz v RB Leipzig (5.30pm)

Cologne v Fortuna Dusseldorf (8pm)

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.”

Thank You for Banking with Us

Director: Laila Abbas

Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum

Rating: 4/5

The specs

Engine: 3.8-litre twin-turbo flat-six

Power: 650hp at 6,750rpm

Torque: 800Nm from 2,500-4,000rpm

Transmission: 8-speed dual-clutch auto

Fuel consumption: 11.12L/100km

Price: From Dh796,600

On sale: now

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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

Company%20Profile
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yallacompare profile

Date of launch: 2014

Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer

Based: Media City, Dubai 

Sector: Financial services

Size: 120 employees

Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)

Company%20profile
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COMPANY PROFILE
Name: ARDH Collective
Based: Dubai
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Sector: Sustainability
Total funding: Self funded
Number of employees: 4
Tree of Hell

Starring: Raed Zeno, Hadi Awada, Dr Mohammad Abdalla

Director: Raed Zeno

Rating: 4/5

Tailors and retailers miss out on back-to-school rush

Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”

A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.

“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
The biog

Name: Shamsa Hassan Safar

Nationality: Emirati

Education: Degree in emergency medical services at Higher Colleges of Technology

Favourite book: Between two hearts- Arabic novels

Favourite music: Mohammed Abdu and modern Arabic songs

Favourite way to spend time off: Family visits and spending time with friends


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