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‘State interests are competing with US private equity’

WHY POWER-BROKERS ARE OBSESSED WITH OWNING A PIECE OF THE BEAUTIFUL GAME, P44

The Issues

42 FALL OF LONDONGRAD?

What happens to businesses that cater to oligarchs if all the Russians leave town? Robert Jackman reports

44 PASSING FANCIES

A flood of HNWs are investing in football clubs. Lawrie Holmes investigates

50 AND THE WINNER IS...

John Arlidge looks into how Dubai has emerged as the most attractive option for investors and business in the pandemic

56 THE CLUB

A new network for the ultra-wealthy is pushing for a social conscience as well as sound investing, Rory Sachs discovers

61 INCOME STREAMS

Sam Leith on the legal minefield of copyright in the era of movie franchises, Netflix and online video gaming

Arcadia

65 RORY SACHS

Livraria Lello in Porto is a bookshop like no other, and is more popular than ever after 116 years in business

66 DAISY DUNN

How far-right groups have been appropriating classical imagery

67 EDWIN SMITH

A corker of a club for wine lovers, with new outposts in Verbier and Singapore

68 NICK FOULKES

Revelling in a midlife renaissance through a timely new project

69 CHRIS STOKEL WALKER

The challenging and often strange life of the close protection officer

The Good Life

73 SWEET SPOT

Château d’Yquem remains the ultimate honey trap, says Jonathan Ray

74 LONG, DARK AND HANDSOME

Mark Walton on the latest success from the rejuvenated Rolls-Royce

78 ALL THE FUN OF MAYFAIR

Chef Luciana Berry’s new BrazilianJapanese fusion venture

80 THE JEWEL OF ST TROPEZ

Edwin Smith joins the beautiful people at Hotel Byblos

84 A SHOW OF HANDS

Watch collecting is growing as both a passion and a business. Timothy Barber find out what makes enthusiasts tick

98 MIDAS

With designer Anya Hindmarch

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67 80

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