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DRII
12-04-2009, 04:47 AM
Will the current money/market collapse in the United Arab Emirates (UAE) affect the tennis world negatively?

I believe the WTA has their tour championships within the federation and the ATP has atleast one tournament there.

As a matter of fact the region, until very recently, was considered one of the few areas to have money and the ATP and WTA welcomed the sponsorships.

Guess we will see next year!

origmarm
12-04-2009, 05:17 AM
It is unlikely per my understanding in that Dubai World (the major source of the problem) is effectively seperated from the state of Dubai which funds the tennis federation. This is in fact part of the problem in that there was an assumption on the part of some investors that Dubai World was government guaranteed.

Given the push by the Qataris for more and more sporting events and a similar push in Dubai I feel it unlikely. As you said, though time will tell.

pound cat
12-04-2009, 05:34 AM
Will the current money/market collapse in the United Arab Emirates (UAE) affect the tennis world negatively?

I believe the WTA has their tour championships within the federation and the ATP has atleast one tournament there.

As a matter of fact the region, until very recently, was considered one of the few areas to have money and the ATP and WTA welcomed the sponsorships.

Guess we will see next year!

Federer will prop up Dubai and all will be well.

sureshs
12-04-2009, 05:54 AM
Dubai problems have spread to Vegas. Dubai companies are unable to complete construction of some new megaresorts there.

abudhabi tennis
12-04-2009, 06:58 AM
This is a really lame thread.
Unlike the US which has a $13 trillion debt (mainly to China, Japan, Saudi, Norway) , Dubai World is only asking for a 6 month halt in payments to get its finances in order. Morever Dubai's cousins in Abudhabi are sitting on US$ 1 trillion (yes thats 1000 billion) in cash reserves and can bail out Dubai anytime.

RF, NADAL,DAVY, SODERLING, TSONGA are coming to Abudhabi on Dec21-Jan2. Should be great!!! Dubai 500 in March is going to be great as well, so is DOha 2010.

Roger loves Dubai so much , its his second home.
Dubai haters are pretty lame and ignorant.

origmarm
12-04-2009, 07:28 AM
Dubai World is only asking for a 6 month halt in payments to get its finances in order.

Speaking as someone very "close" to the situation I would say that that is technically correct but does not reflect the true position. In effect they will need to restructure the debt wholesale as bar a miracle they are effectively insolvent. This was a deliberate "silo" of the debt holding portion from their other very lucrative business areas (for example ports). The 6 month payment freeze buys them restructuring time. I would expect "non-Dubai based banks" to likely aid them in this restructuring per current proposals under discussion.

Morever Dubai's cousins in Abudhabi are sitting on US$ 1 trillion (yes thats 1000 billion) in cash reserves and can bail out Dubai anytime.

This is again technically correct but a distortion. ADIA and ADIC's finances for example are not particularly liquid and the way they account for "cash reserves" is somewhat dubious. Still the true cash reserves FAR outweigh Dubai World's requirements and your point is valid. It is very unlikely that a sovereign state could bail them out due to their debt terms and the wealth funds cannot due to their "investment guidelines". What is not yet clear is whether the "investment guidelines" for banking capital allow their banks to make this investment in a technically insolvent entity or "bail them out". In principle yes but it's being looked at as it changes their liquidity ratios significantly. This could of course be solved by direct (i.e. not government entity but effectively government via a member of the Emir's family/a business interest) "investment" but it's unlikely. The most likely scenario appears to be a structured bank financed bailout by an Abu Dhabi bank with an implicit government guarantee.

RF, NADAL,DAVY, SODERLING, TSONGA are coming to Abudhabi on Dec21-Jan2. Should be great!!! Dubai 500 in March is going to be great as well, so is DOha 2010.

I believe it's going to be a fantastic tournament also. I hope to make it out there!

Dubai haters are pretty lame and ignorant.

I wouldn't equate this thread with Dubai hating. Questioning whether the economic situation in Dubai will have an impact on sports (and other) funding is not unreasonable. In my opinion the impact will be zero however.

As an aside I presume you are in Abu Dhabi? I recently was in Qatar and got a hit in with Azarenka (for about 5m :) ) at the Khalifa over there when she was waiting for her practice partner. Unbelievable standard. Met one of the guys that got to train with Fed for a few days in Dubai also who was practicing with Safina (I think, might have been another player). He said Fed's practice rate is ridiculous.

jimbo333
12-04-2009, 09:44 AM
As an aside I presume you are in Abu Dhabi? I recently was in Qatar and got a hit in with Azarenka (for about 5m :) ) at the Khalifa over there when she was waiting for her practice partner. Unbelievable standard. Met one of the guys that got to train with Fed for a few days in Dubai also who was practicing with Safina (I think, might have been another player). He said Fed's practice rate is ridiculous.

I think I'd only last 5 minutes with Azarenka as well:twisted:

(I actually met her at Wimbledon, and she is absolutely lovely in person:))

DRII
12-04-2009, 10:27 AM
This is a really lame thread.
Unlike the US which has a $13 trillion debt (mainly to China, Japan, Saudi, Norway) , Dubai World is only asking for a 6 month halt in payments to get its finances in order. Morever Dubai's cousins in Abudhabi are sitting on US$ 1 trillion (yes thats 1000 billion) in cash reserves and can bail out Dubai anytime.

RF, NADAL,DAVY, SODERLING, TSONGA are coming to Abudhabi on Dec21-Jan2. Should be great!!! Dubai 500 in March is going to be great as well, so is DOha 2010.

Roger loves Dubai so much , its his second home.
Dubai haters are pretty lame and ignorant.

I suggest you not be so defensive!

This thread was certainly not intended to denounce any group of people or particular federation of nation states. I was just asking about the financial situation and its possible impact on tennis.

I'm glad we have a poster (who responded to your rant) who knows what he or she is talking about, first hand.

I believe that regardless of the current economy, the entire federation of the UAE will try and keep the current obligations to the ATP and WTA tours. I feel the territorries involved have used their relationship with tennis to great effect as far as image, marketing, and information to the outside world of tennis viewers, especially in the west.

And please do not compare America's economy to that of the UAE or any other nation. Although U.S. debt is high (around 10 trillion, not 13 trillion) it represents around 60% of GDP; inline with, or less than, other developed industrial powers.

And America still develops things! Intellectual property (that is often stolen), creative production, and human capital are still the highest in the world, by far! -- Much less of a house cards (although I still have many lingering doubts) than anywhere else.

sureshs
12-04-2009, 10:44 AM
I recently was in Qatar and got a hit in with Azarenka (for about 5m :) ) at the Khalifa over there when she was waiting for her practice partner. Unbelievable standard. Met one of the guys that got to train with Fed for a few days in Dubai also who was practicing with Safina (I think, might have been another player). He said Fed's practice rate is ridiculous.

What is your level? Are you kind of a pro?

MuseFan
12-04-2009, 10:58 AM
Dubai is the pits of the world. They engage in vast slave labor camps!

origmarm
12-04-2009, 11:08 AM
What is your level? Are you kind of a pro?

Not at all mate, just happened to be on the court she was coming to practice on before her and her partner was late. I said hi when she turned up and when her partner was late I suggested I hit with her for a few minutes. She took pity on me :). I would guess based on people I've beaten in the past that I'm around a 4.0 or so on the US scale. The UK->US translation of scales says 4.3 or something like that if I remember correctly.

sureshs
12-04-2009, 11:17 AM
Not at all mate, just happened to be on the court she was coming to practice on before her and her partner was late. I said hi when she turned up and when her partner was late I suggested I hit with her for a few minutes. She took pity on me :). I would guess based on people I've beaten in the past that I'm around a 4.0 or so on the US scale. The UK->US translation of scales says 4.3 or something like that if I remember correctly.

So how good do you think she was on that scale?

origmarm
12-04-2009, 02:04 PM
So how good do you think she was on that scale?

Really good. Proper pro for sure. I would say I'd be lucky to win many points at all. I'm out of shape though and my serve keeps me in games a lot. I would say fitter more athletic player at the 4.5ish level would probably get a few points, maybe a game or two but unlikely to be more in a match. But then I'm unsure. I see a lot of rubbish looking players on YouTube who are supposedly 4.5 but then I see some who look just fine. It seems very variable by area.

One of the guys I saw who hit with her was a top local player and he said to me he would be lucky to win more than a few games in a set. He played D1 college in the US for a good school in the 90s (or so he said, I don't really know anything about US colleges).

I think the depth in the women's game has come along a lot in recent years. I remember when I was younger I hit with Eva Majoli once (she won the French, remember :)). I remember she beat me 6-4 in the set we played. Azarenka was on another level to that I thought.

Topaz
12-04-2009, 02:11 PM
One of the guys I saw who hit with her was a top local player and he said to me he would be lucky to win more than a few games in a set. He played D1 college in the US for a good school in the 90s (or so he said, I don't really know anything about US colleges).

I think the depth in the women's game has come along a lot in recent years. I remember when I was younger I hit with Eva Majoli once (she won the French, remember :)). I remember she beat me 6-4 in the set we played. Azarenka was on another level to that I thought.

Hunh...very interesting.

Totally cool that you got to hit with her though...right place at the right time I suppose!

jimbo333
12-04-2009, 03:02 PM
Vika is a superb player, and about to win a Grand Slam tournament this year I reckon:)

SuperFly
12-04-2009, 03:54 PM
It's kinda silly how a country could build its entire infrastructure on making giant buildings that nobody can afford to go to. :???:

borg number one
12-04-2009, 06:56 PM
I ran across this informative Wall Street Journal article today as to Dubai's financial rise and current economic troubles.

http://online.wsj.com/article/SB125988807548075805.html?mod=rss_Today%27s_Most_P opular

origmarm
12-05-2009, 02:27 AM
Hunh...very interesting.

Totally cool that you got to hit with her though...right place at the right time I suppose!

Yeah was cool, defo right place right time. Was surprised at how "lax" the security was for the whole thing.

This guy didn't strike me as the biggest server (which I think makes a huge difference in that equation). I think his assessment was probably accurate from what I could see of them hitting. I doubt he was a top player though, he was no John Isner :). I've seen better and I've seen worse supposedly college level players so I guess he would have been an average player. Good benchmark if you see what I mean.

jimbo333
12-05-2009, 02:31 AM
^^^^Vika would have beaten you 6-0, 6-0, without even trying!

(You do realise she's number 6 in the world:))

abudhabi tennis
12-05-2009, 06:48 AM
My thread "rants" are mainly to US based bloggers like Musefan. They just seem ignorant about the Middle East or the world in general. I have just summarised my opinions in brief ,but Mr. origmarm was spot on with his financial assessments. I am assuming he is involved in finance industry.
Saw federer practising in Abudhabi as well. He personifies tennis coolness.His service,slices, forehand are textbook classics.

AM95
12-05-2009, 07:58 AM
is dubai even a masters anymore? especially after that israeli player not being allowed to play there incident