David Marshall, the Cardiff goalkeeper, tries to punch the ball away to safety against Blackpool at Wembley yesterday.
David Marshall, the Cardiff goalkeeper, tries to punch the ball away to safety against Blackpool at Wembley yesterday.

Blackpool rocks into Premier League



LONDON // Nine years ago, Blackpool were playing in the fourth division of English football. Yesterday, Brett Ormerod's first-half winner in the Championship play-off final gave the tiny seaside club from Lancashire the most lucrative promotion in the history of English football. Blackpool have been out of the top flight since 1971 but they showed remarkable character to twice come from behind to win 3-2 and clinch a place in the Premier League, estimated to be worth £90 million (Dh472.5m).

"You don't understand what it means, we're going to have so much money," a hoarse Ian Holloway, Blackpool's manager, told Sky Sports, referring to the Deloitte estimated £90m reward for the winner of the match dubbed the "richest game in football". "This is absolutely magnificent, not just for the team but for the whole area we come from. "I can't believe this. It's outstanding. I have never worked with a group of people who deserve this more. I can't put this into words. I'm bursting with pride."

The promotion caps a fairy-tale story for Blackpool, nicknamed the Seasiders because the town is one of England's most famous holiday resorts, who were tipped to be relegated at the start of the season. Blackpool's average home crowd of 8,611 was the second-lowest in the Championship this season and they will be the smallest club in the top flight since the formation of the Premier League. "All the lads deserve enormous credit, we've worked so hard and now we've earned the right to play at Old Trafford, Stamford Bridge and so on," said Charlie Adam, scorer of Blackpool's first equaliser. "We'll enjoy the occasion, enjoy the summer, but next season can't come quickly enough."

Michael Chopra put Cardiff ahead after nine minutes, but Adam soon levelled with a free-kick for his 19th goal of the season before Joe Ledley restored the Welsh club's advantage with a neat finish. Yet the energy and desire that has been so evident in the charismatic Holloway's side throughout the campaign again came to the fore as Gary Taylor-Fletcher and Ormerod struck from close range shortly before the break to put Blackpool in front.

Ormerod's 13th goal of the season - undoubtedly the most important strike of the 33-year-old's career - gave the Seasiders an advantage they did not surrender. The striker, who has played in all four English football divisions, was lost for words. "I honestly don't know what to say," the 33-year-old mumbled, fighting back the tears. "We got written off at the start of the season but the gaffer has come in ? he deserves knighting, I tell you."

Keith Southern, the Blackpool midfielder, added: "This is one of the best days of my life. The lads have run through brick walls for the club this season. We always felt we had goals in the team and the boys never know when they're beaten. "Never in a million years did we believe this could happen at the start of the season. But it shows what can happen with a bit of belief." Dave Jones, the Cardiff manager who was hoping for a return to the Premier League after leading Wolves in the top flight in 2003/04, bemoaned an early injury which forced key striker Jay Bothroyd out of the game.

"Losing Jay was a massive blow for us, but we got in front again - we just didn't keep that lead," he said. "You want to rip into one or two [players]. It's not the time and not the place. Everybody's really down. You've just got to take it on the chin. Well done to Ollie [Holloway], well done to his players." * PA Sport

About Proto21

Date started: May 2018
Founder: Pir Arkam
Based: Dubai
Sector: Additive manufacturing (aka, 3D printing)
Staff: 18
Funding: Invested, supported and partnered by Joseph Group

Company Profile

Company name: NutriCal

Started: 2019

Founder: Soniya Ashar

Based: Dubai

Industry: Food Technology

Initial investment: Self-funded undisclosed amount

Future plan: Looking to raise fresh capital and expand in Saudi Arabia

Total Clients: Over 50

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The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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Test

Director: S Sashikanth

Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

Star rating: 2/5

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
SPECS
%3Cp%3E%3Cstrong%3EEngine%3C%2Fstrong%3E%3A%202-litre%20direct%20injection%20turbo%20%0D%3Cbr%3E%3Cstrong%3ETransmission%3C%2Fstrong%3E%3A%207-speed%20automatic%20%0D%3Cbr%3E%3Cstrong%3EPower%3C%2Fstrong%3E%3A%20261hp%20%0D%3Cbr%3E%3Cstrong%3ETorque%3C%2Fstrong%3E%3A%20400Nm%20%0D%3Cbr%3E%3Cstrong%3EPrice%3C%2Fstrong%3E%3A%20From%20Dh134%2C999%26nbsp%3B%3C%2Fp%3E%0A
The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

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.”