As Formula One cars screech around the Yas Marina Circuit today, big business deals will be quietly struck behind the scenes by captains of industry entertaining valuable clients.
Closer to the action of the race, carefully placed adverts pepper the track; encircling stands sell team merchandising and drivers' cars, caps and overalls are emblazoned in sponsors' logos.
Welcome to one of the most expensive sports in the world, where business meets pleasure and sponsorship is every bit as important as the race result.
"It's a big budget sport. Formula One is littered with rich people who come in and then have to leave it because they can't afford it," says Mike Gascoyne, the chief technical officer of Team Lotus.
"There is a great saying: if you want to become a millionaire in Formula One start as a multimillionaire."
Team Lotus, which returned to competing in the sport last year, landed a sponsorship deal this season with one of the world's biggest companies.
"The great thing for us is not just that we have got GE as a sponsor, but that sponsorship is going from strength to strength," says Mr Gascoyne.
"It's expanding because they are feeling value. They also love the competitive edge and that we are the team who are going to come from the back and move up with them is a great story. That's where the pressure is because I've got to deliver it."
The partnership is valuable to Team Lotus, which has several sponsors including Dell, because of the financial security it offers and the technical collaboration it can bring. And having such a big and well-respected company on board lends the team extra credibility.
"It was a little bit of a signal to the other teams that we have got one of the biggest companies in the world with us," says Team Lotus driver Heikki Kovalainen.
"People respect us in the paddock and they think that we are going to move up the grid. And I think some of the teams ahead of us are probably worried about that. It's just a matter of time."
Mr Gascoyne admits that team principal Tony Fernandes' aviation industry connections came in handy in securing the deal, because it is "tremendously difficult" to get good sponsorship on board in the current economic climate.
It costs about £40 million (Dh236m) for each team to be in F1, which covers only the building of the cars and parts for the season, plus travelling and turning up at the race. Anything above that is spent on going faster, which is why teams need sponsors.
But the benefits companies receive are big.
"Each grand prix is still, I think, the third-biggest televised sporting event in the world. The other two are the World Cup final and the Olympics. They are once every four years. We do it 20 times a year … In terms of the global hit, it's massive. Each race is watched live by something like 340 million people," says Mr Gascoyne.
But some companies choose to sponsor races or venues instead of teams.
"The event brings a great value to Abu Dhabi … We are part of the fabric. We are one of the important players in the development of Abu Dhabi," says Salah Al Tamimi, the head of the corporate communication department of National Bank of Abu Dhabi, which has been the event's official bank for the third year running.
Mr Al Tamimi refuses to reveal how many guests the bank will entertain at the event over the weekend. But he stresses that the value of corporate hospitality cannot be disputed.
"Our customers really enjoy it and appreciate it … It's a win-win situation," he says. About 15,000 people will be entertained throughout the weekend at the Paddock Club, which is the biggest in the calendar.
"There are a lot of hospitality opportunities at the circuit. That 15,000 is just one section," says Steven Umfreville, the commercial director of the Yas Marina Circuit.
"If you look at the way the Yas Marina was built … it is very much of a place to do business and network," he adds.
Few individuals buy paddock tickets. The main buyers are either organisations, multinationals or local companies.
The Paddock is a place where companies entertain important clients, and teams host sponsors. And some, including the host, will use the opportunity to try to pick up some more.
"This is a great opportunity to introduce and re-sign sponsors that you have been involved in or are looking to get involved in Yas Marina Circuit or Formula One or any part of our business," says Mr Umfreville.
"This is our jewel … it highlights the capabilities of Yas Marina Circuit and obviously what we can do all year round. There will hopefully be a few more deals done over the weekend for Yas Marina Circuit."
gduncan@thenational.ae
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Results
4pm: Al Bastakiya – Listed (TB) $150,000 (Dirt) 1,900m; Winner: Panadol, Mickael Barzalona (jockey), Salem bin Ghadayer (trainer)
4.35pm: Dubai City Of Gold – Group 2 (TB) $228,000 (Turf) 2,410m; Winner: Walton Street, William Buick, Charlie Appleby
5.10pm: Mahab Al Shimaal – Group 3 (TB) $228,000 (D) 1,200m; Winner: Canvassed, Pat Dobbs, Doug Watson
5.45pm: Burj Nahaar – Group 3 (TB) $228,000 (D) 1,600m; Winner: Midnight Sands, Pat Dobbs, Doug Watson
6.20pm: Jebel Hatta – Group 1 (TB) $260,000 (T) 1,800m; Winner: Lord Glitters, Daniel Tudhope, David O’Meara
6.55pm: Al Maktoum Challenge Round-1 – Group 1 (TB) $390,000 (D) 2,000m; Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
7.30pm: Nad Al Sheba – Group 3 (TB) $228,000 (T) 1,200m; Winner: Final Song, Frankie Dettori, Saeed bin Suroor
How green is the expo nursery?
Some 400,000 shrubs and 13,000 trees in the on-site nursery
An additional 450,000 shrubs and 4,000 trees to be delivered in the months leading up to the expo
Ghaf, date palm, acacia arabica, acacia tortilis, vitex or sage, techoma and the salvadora are just some heat tolerant native plants in the nursery
Approximately 340 species of shrubs and trees selected for diverse landscape
The nursery team works exclusively with organic fertilisers and pesticides
All shrubs and trees supplied by Dubai Municipality
Most sourced from farms, nurseries across the country
Plants and trees are re-potted when they arrive at nursery to give them room to grow
Some mature trees are in open areas or planted within the expo site
Green waste is recycled as compost
Treated sewage effluent supplied by Dubai Municipality is used to meet the majority of the nursery’s irrigation needs
Construction workforce peaked at 40,000 workers
About 65,000 people have signed up to volunteer
Main themes of expo is ‘Connecting Minds, Creating the Future’ and three subthemes of opportunity, mobility and sustainability.
Expo 2020 Dubai to open in October 2020 and run for six months
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
'Dark Waters'
Directed by: Todd Haynes
Starring: Mark Ruffalo, Anne Hathaway, William Jackson Harper
Rating: ****
The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
You may remember …
Robbie Keane (Atletico de Kolkata) The Irish striker is, along with his former Spurs teammate Dimitar Berbatov, the headline figure in this season’s ISL, having joined defending champions ATK. His grand entrance after arrival from Major League Soccer in the US will be delayed by three games, though, due to a knee injury.
Dimitar Berbatov (Kerala Blasters) Word has it that Rene Meulensteen, the Kerala manager, plans to deploy his Bulgarian star in central midfield. The idea of Berbatov as an all-action, box-to-box midfielder, might jar with Spurs and Manchester United supporters, who more likely recall an always-languid, often-lazy striker.
Wes Brown (Kerala Blasters) Revived his playing career last season to help out at Blackburn Rovers, where he was also a coach. Since then, the 23-cap England centre back, who is now 38, has been reunited with the former Manchester United assistant coach Meulensteen, after signing for Kerala.
Andre Bikey (Jamshedpur) The Cameroonian defender is onto the 17th club of a career has taken him to Spain, Portugal, Russia, the UK, Greece, and now India. He is still only 32, so there is plenty of time to add to that tally, too. Scored goals against Liverpool and Chelsea during his time with Reading in England.
Emiliano Alfaro (Pune City) The Uruguayan striker has played for Liverpool – the Montevideo one, rather than the better-known side in England – and Lazio in Italy. He was prolific for a season at Al Wasl in the Arabian Gulf League in 2012/13. He returned for one season with Fujairah, whom he left to join Pune.
Result
Tottenhan Hotspur 2 Roma 3
Tottenham: Winks 87', Janssen 90 1'
Roma 3
D Perotti 13' (pen), C Under 70', M Tumminello 90 2"
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
Results:
Men's 100m T34: 1. Walid Ktila (TUN) 15 sec; 2. Rheed McCracken (AUS) 15.40; 3. Mohammed Al Hammadi (UAE) 15.75. Men's 400m T34: 1. Walid Ktila (TUN) 50.56; 2. Mohammed Al Hammadi (UAE) 50.94; 3. Henry Manni (FIN) 52.24.
Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
Global institutions: BlackRock and KKR
US-based BlackRock is the world's largest asset manager, with $5.98 trillion of assets under management as of the end of last year. The New York firm run by Larry Fink provides investment management services to institutional clients and retail investors including governments, sovereign wealth funds, corporations, banks and charitable foundations around the world, through a variety of investment vehicles.
KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.
