Hands up if you feel tennis has a problem right now.
No? Not really? And why would you? We are just coming to the end of a golden age in men’s tennis. Roger Federer and Rafael Nadal are two of the greatest players of all time. Novak Djokovic may eventually end up alongside them.
They are tailed by a group that has helped create some of the most mind-blowing tennis ever seen on the men’s circuit.
The intensity and ferocity of their rivalries are legendary already. Given that men’s tennis has not really experienced a prolonged fallow period since nearly forever, it means a bar that has always been rising has been raised further in the last decade.
The women’s circuit is not as settled, but it is nearly as compelling. Serena Williams, like Federer and Nadal, is a different conversation altogether and has carried this period by herself. But there is greater parity and openness than on the men’s tour, especially this year, when Serena has missed out. Nobody can say with confidence who makes the last four of a slam, let alone wins it.
The schedule is a little packed, but the circuit is well-established and global. There is, at the highest levels, good money to be made.
If our point is being laboured too much, it is only to ask this question: Why is the International Premier Tennis League (IPTL) necessary?
Hitherto, the Premier League-isation of a sport – if we can make it a verb – has usually meant glamming up and enriching an ailing sport by handing it over to private franchise ownership. Cricket’s Indian Premier League (IPL) is the clearest example of how this works well. Cricket needed to become shorter, to pay its players better, to be sexier than it was.
In India, where the IPTL originated, this is the new sporting contagion. Football has a shiny new league. Hockey has had, at last count, a couple. Golf attempted one, as well. Even kabbadi has its own glitzy makeover now.
Arguably all these sports have needed it, or needed it within India, at least. Does tennis? Mahesh Bhupathi, the Indian doubles legend and progenitor of the IPTL, seems to think so.
To be fair to Bhupathi, if one of the intentions of the IPTL is to give tennis a greater presence in Asia, then there is something to be said for the game’s top stars and legends playing in more locations in this part of the world. It does not reach out far enough, but that will likely grow.
The other reason Bhupathi noted in his trip to Dubai earlier this summer was the duration of tennis matches. This, he says, is a problem for broadcasters: "I think we do have a problem vis-a-vis tennis. If you look at TV broadcasts, we cannot control the time of a match.
“We have changed the traditional scoring format to speed up the games and allow us to expose up to 24 different players in one evening. On the broadcasting side, they will, for the first time, be able to schedule predictable starting and finish times of each match.”
It is a debate for sure, more so in this time when Nadal, Federer, Djokovic and Andy Murray have pounded out extended epics: nine of the 15 longest men's matches in history have been played in the 2000s. But if that is even a problem – and this is unclear – is it inherent or merely a by-product of this particular time in men's tennis?
Does reducing it to single-set shoot-outs, with power points (in which the next point counts double), provide a solution without affecting quality, or is it just a gimmick? Are they simply trying to latch onto a fad, as one Bhupathi comment suggests: “I think the world is moving towards a lot of short-format content when it comes to sport and we are trying to pick up that trend.”
Neither does the IPTL spread any wealth, which the genre has done in other sports and which, arguably, tennis needs. If it breaks what can become the grinding monotony of the tour, week after week of similar tournaments in different locations, then it is not clear how. Having fewer tournaments is a better answer to that.
More team-based tennis is not, on the other hand, a better answer to anything. Remember World Team Tennis? Neither does anyone else.
Every season, the Davis Cup looks more anachronistic on a stateless circuit of individuals, an idea with dwindling appeal.
“It was time for innovations in tennis and, similar to what the IPL has done in cricket, I imagine the IPTL will for tennis,” Bhupathi said.
Tennis is not cricket. It is not perfect, either. How the IPTL, which could easily end up a glorified exhibition league, will improve it is not clear.
osamiuddin@thenational.ae
Follow us on Twitter at @SprtNationalUAE
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Citadel: Honey Bunny first episode
Directors: Raj & DK
Stars: Varun Dhawan, Samantha Ruth Prabhu, Kashvi Majmundar, Kay Kay Menon
Rating: 4/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Real Betis v Real Sociedad (5pm)
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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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Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
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Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding