The UFL is a second chance for two cast-offs



Jim Fassel and JP Losman are two men in exile, each with the same escape plan. Each intends to ride the other back into the National Football League. In a sense, that is what the newly-formed United Football League (UFL), which will begin its six-game inaugural season on Oct 8, is all about. It's about second chances and Fassel and Losman are two football men who need them.

From 1997-2003, Fassel was the head coach of the New York Giants, a team he took to a Super Bowl but one that ultimately failed to win the big game and soon after rebelled against his leadership. Barely five years ago Losman was a first-round draft choice of the Buffalo Bills, a strong-armed, scrambling quarterback who was supposed to be their football future. Things do not always work out the way they are supposed to, however, which is what the UFL is basing its business model on. The founders of the four-team league (New York, Orlando, Las Vegas and San Francisco this year with two more teams preparing to begin play in Hartford and LA in 2010) have no illusion of competing with the all-powerful NFL. What they hope to do is the same thing Fassel and Losman hope signing with the Las Vegas franchise will do for them: get noticed by the NFL.

The league's plan is to one day become a satellite operation of the NFL not unlike NFL Europe, which folded a year ago. It would be a place to train young prospects in-season, serving as a postgraduate school for football players who have fallen a step short of the big time. Losman is such a player. Despite his big arm and his promise, he was 10-23 as a starting quarterback in Buffalo, throwing one more interception (34) than touchdowns (33) and being sacked 103 times. By 2007, he had lost the starting job to Trent Edwards.

Fassel has long been considered a top offensive mind and tutor of young quarterbacks, but like Losman has been unable to find a second chance in the NFL. Thus it seems a natural blending of their talents for the two of them to agree to play in this new league from Oct 8 to the final championship game on Thanksgiving Eve, each believing if they do their jobs well they might land back where they want to be.

"The UFL is providing me with the opportunity to play the sport that I love at a high level," said Losman after becoming the league's most high profile signing to date. "For that I'm extremely grateful. There are many players just like me who possess the skills to compete at the highest level and just need the playing time to showcase their talents." To be sure that's what the UFL is to Losman, 28. It's a platform to audition for the NFL, a weekly act of resume building that he hopes will lead to what he did not have this off-season, which was NFL teams interested in hiring him.

"This is an opportunity for me to get on the field working with somebody who's had a lot of success with quarterbacks," Losman said. "The back-up role as second or third string quarterback on an NFL team is a hard role for me to play right now. I don't want to be in the NFL waiting for somebody to get hurt or to not play well. A lot of people still feel I can play but I need to work on some fundamentals and see if we can create a buzz."

That is where Fassel's tutorials come in. It's also where Fassel believes his own return to the NFL could happen because if he can resurrect Losman's career he will have helped Losman and, he hopes, himself. "Anybody can see he can play," Fassel said. "JP should be a starter in the NFL. But if he went back this year and sat all season he'd be no better off than he is now. Teams would have the same questions about him. Here he can answer those questions by playing well."

rborges@thenational.ae

Dubai World Cup factbox

Most wins by a trainer: Godolphin’s Saeed bin Suroor(9)

Most wins by a jockey: Jerry Bailey(4)

Most wins by an owner: Godolphin(9)

Most wins by a horse: Godolphin’s Thunder Snow(2)

THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

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While you're here
The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
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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.”

Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Rating: 2/5
 
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A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

Emiratisation at work

Emiratisation was introduced in the UAE more than 10 years ago

It aims to boost the number of citizens in the workforce particularly in the private sector.

Growing the number of Emiratis in the workplace will help the UAE reduce dependence on overseas workers

The Cabinet in December last year, approved a national fund for Emirati jobseekers and guaranteed citizens working in the private sector a comparable pension

President Sheikh Khalifa has described Emiratisation as “a true measure for success”.

During the UAE’s 48th National Day, Sheikh Khalifa named education, entrepreneurship, Emiratisation and space travel among cornerstones of national development

More than 80 per cent of Emiratis work in the federal or local government as per 2017 statistics

The Emiratisation programme includes the creation of 20,000 new jobs for UAE citizens

UAE citizens will be given priority in managerial positions in the government sphere

The purpose is to raise the contribution of UAE nationals in the job market and create a diverse workforce of citizens

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The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now