Winning the new financial era

Chapter 381 Vulture Fund
Li Yonghong seemed to grasp a life-saving straw after seeing the Sun newspaper's report on Zhang Yida's acquisition of Tottenham in Italy.

Without stopping for a moment, I flew from Milan to London immediately.After going through many middlemen, they finally met Zhang Yida at the Cultural Oriental Hotel.

Zhang Yida looked at Li Yonghong, who was also looking at him.

Zhang Yida was curious about what this mysterious Chinese buyer of AC Milan was looking for.

I don't know him personally, but I learned a thing or two about this "big guy" from some football news in my previous life.

Li Yonghong said in Mandarin with a slight Cantonese accent: "If you take the liberty to visit, please don't blame Mr. Zhang."

"Hehe, what is Mr. Li talking about, friends of friends are also friends! You don't have to be so polite."

Seeing Zhang Yida so unassuming, Li Yonghong felt even more hopeful.

"I heard that Mr. Zhang wants to buy the Premier League club Tottenham Hotspur?"

Zhang Yida nodded slightly, "There is such a thing, and we are currently in contact."

Li Yonghong said "Oh", suppressed the joy in his heart, and said with a smile: "The Premier League clubs are not cheap, and only top entrepreneurs like Mr. Zhang can be so calm.

Here, I would like to congratulate Mr. Zhang in advance!Entering a Premier League club will greatly enhance your personal and corporate reputation. "

"Haha, I'm overwhelmed, I haven't written a word about this yet!"

Zhang Yida looked at Li Yonghong and said with a smile, "President Li took charge of AC Milan, and the whole of Europe was shocked by the courage of the Chinese consortium."

"I'm just making a fuss. Compared with Mr. Zhang, it's nothing worth mentioning."

Zhang Yida waved his hand, "Mr. Li, you don't need to be humble, your big money can be regarded as the largest acquisition ever made by a Chinese consortium in the field of European football.

Even Suning's entry into Inter Milan was overwhelmed by you. "

Li Yonghong smiled lightly, and talked about some things about AC Milan.

Zhang Yida didn't interrupt him, just listened quietly.

Serie A has also been brilliant, and it was known as the "Little World Cup" in its early years.

In the 90s, when China Central Television began broadcasting the Serie A league, it was so popular.

At that time, Serie A was also at its peak, and it could be called a cloud of stars, so it gained a lot of fans in China.

In recent years, it has failed. Popularity, commercial value, and competitive level have all declined seriously.

Not only was it surpassed by the Premier League, it was also overwhelmed by La Liga and Bundesliga.

The domestic Milan duo is no longer good, and only Juventus can still have a sense of presence in the Champions League.

During this period of time, Zhang Yida has analyzed almost all the five major leagues, and he has a good grasp of various situations.

But before he understood Li Yonghong's intentions, he didn't intend to speak out too much.

Li Yonghong felt that the heat was almost ready, so he said with a smile: "The popularity and fan base of Serie A in China are quite good, but it has been a bit sluggish in the past two years.

The same is true of the great team of AC Milan, which encountered a series of difficulties.

However, this also gave me the opportunity to bargain.

7.4 million euros, equivalent to only 6.3 million pounds.At this price, you can only buy a mid-lower team in the Premier League.

But in Serie A, you can buy a giant.As long as you manage it carefully for two or three years, and when the performance improves, you will definitely get a very good return on investment. "

"Hehe, Mr. Li's analysis is very good. I also believe that AC Milan will be able to shine again in your hands."

Li Yonghong pondered for a moment, then sighed and said: "Investment is a good investment, but it also encountered many problems.

Mr. Zhang, do you know about the regulation of foreign investment in the sports and entertainment industry at the end of last year? "

"Ok, I know."

Zhang Yida took a sip of tea and said calmly.He had almost guessed Li Yonghong's reason for coming.

"Hey, this supervision will come sooner or later. It's just at this time. It's really not the right time!"

Zhang Yida asked very cooperatively, "What's the matter?"

Li Yonghong said: "In August last year, I signed a contract with Finnwest Group, a subsidiary of former Italian President Berlusconi, and acquired the AC Milan club with a cash consideration of 8 million euros and a club debt of 5.2 million euros. 2.2% equity.

A deposit of 2 million euros has been paid before and after, but it is precisely at this time that domestic funds are not allowed to flow out. "

Li Yonghong sighed, looked at Zhang Yida, and said flatteringly: "Then I heard that Mr. Zhang wanted to buy Tottenham, so I took the liberty to visit.

If Mr. Zhang wants to invest in overseas football clubs, AC Milan is actually a good choice. "

"Pure financial investment doesn't mean much to me."

Li Yonghong understands what Zhang Yida means, but he has been busy for so long, it is impossible for him to give up the controlling stake so easily.

"Is that okay? I heard that Yimin Wangjin and Yimin Wealth both have overseas businesses.

I will take the entire AC Milan club as collateral and borrow a sum of money from Mr. Zhang. "

He was afraid that Zhang Yida would refuse, so he quickly added: "It doesn't take long, two or three years will do. In addition, the interest can also be negotiated."

Zhang Yida said calmly: "We don't have much overseas funds, and we have to complete the team acquisition plan.

Want to help Mr. Li, but have more than enough energy! "

Li Yonghong took a deep look at Zhang Yida, but he didn't see anything unusual.

This made him feel a little shaken in his heart. Could it be that he really wants to borrow overseas usury?

When he first heard that Zhang Yida wanted to acquire Tottenham, he was ecstatic.

Because Zhang Yida is capable and has the intention to acquire the team, he is simply the most suitable partner.

Even if Zhang Yida is unwilling to invest in AC Milan, at least he can borrow money, right?
As for Zhang Yida not borrowing?
In his mind, the possibility should not be very high. Who doesn't know that this young boss started his business with a loan!
"Mr. Zhang, you don't need to borrow too much, just 3 million euros. The borrowing period can be shorter, 18 months. In terms of interest, we can give you 8%."

Li Yonghong was really desperate, so he decided to offer the reserve price.

"Mr. Li, don't worry, I can't afford the money myself."

But Zhang Yida's next sentence rekindled Li Yonghong's hope, "I can ask my friends!"

……

"How dare you lend out such a lousy asset as AC Milan? How courageous you are!"

Li Hengbo, who came from Singapore, flipped through the information of AC Milan club and made fun of Zhang Yida.

"There is a mortgage! Once things go wrong, you can take over AC Milan immediately.

No matter how poor the Rossoneri are, 3 million euros must be worth it! "

Li Hengbo pondered for a moment and asked, "What do we need Temasek to do?"

"You will be the GP, I will be the LP, and we will jointly issue a loan."

Li Hengbo said with a smile: "You can do this by yourself! What are you doing with us?"

"Didn't I just want to have a good project and make money with my friends!"

Zhang Yida smiled again and said: "There are assets mortgaged, and the interest is high, where can you find this kind of loan business?

In case the loan is not paid, taking over AC Milan can also pick up some bargains. "

"I don't believe it, tell me the truth, what do you think?" Li Hengbo put away his smile and asked seriously.

"This is..."

Zhang Yida recalled what happened after the meeting with Li Yonghong two days ago.

Domestic subordinates first collected all the information about Li Yonghong and sent it to him.

There is not much information, and it can even be called scarce.

A big man who has the strength to spend 7.4 million euros to buy AC Milan, but there are almost no photos of him on the Internet.

All I know is that he was born in 1969, his original household registration was Huazhou in eastern Guangdong, and he was naturalized in Hong Kong in 1994.

Then there are several "stained" things about him.

At the end of 2011, Li Yonghong bought Duolun shares at a price of 3.6 million yuan and became the actual controller of the company.

At that time, he promised not to transfer the shares within 12 months.However, only half a year after the transaction, Li Yonghong signed a share transfer agreement with Xianyan, transferring 51% of all shares held by Xianyan, but did not disclose this information to the public.

Li Yonghong was publicly condemned by the Shanghai Stock Exchange for trading stocks and violations of information disclosure, and was fined 60 yuan by the China Securities Regulatory Commission.

In 2013, Li Yonghong was involved in the sensational "Jiangdong Muxue Huge Trust Fraud Case" together with the "big brother" Xian Yan.

According to reports from China News Network, affiliated companies under Li Yonghong have also been involved in illegal fund-raising cases such as the "Thailand Kra Canal Scam".

In 2004, a sensational illegal fund-raising case broke out in Huazhou, eastern Guangdong. Among the Li family who planned the illegal fund-raising, there was also Li Yonghong, who was born in Maoming, eastern Guangdong, and was also born in 1969.

In September last year, some media revealed that the Chinese-funded consortium that acquired AC Milan had provided false Jiangdong Bank documents.

There are several similar things, either contract disputes or the person subject to execution.It can be seen that this is a speculative and gray figure.

The matter of his lack of funds was also investigated clearly.

Li Yonghong formed a China-Europe investment fund last year, with many banks and state-owned assets behind the scenes.

Since last November, the state has launched the control policy of "Chinese capital going overseas", and the transfer of overseas business with an amount exceeding US$11 million must obtain special approval.

Then several state-owned partners withdrew, leaving only Li Yonghong's family.

At the same time, because Li Yonghong first paid a deposit of 2 million euros to Finnvist, if the final payment cannot be paid on time, most of the deposit will not be refunded.

So this speculator was stuck, unable to advance or retreat.

This is similar to what Zhang Yida knew in his previous life, but these are the first half of the story.

In the second half, the boss took the risk and borrowed a loan shark from Elliott, the ninth largest hedge fund in the United States.

Elliott, also known as the "vulture" fund, once used the national debt default to "drain" Argentina.

This kind of organization is not for charity. Li Yonghong took over AC Milan in his previous life only 14 months before he defaulted on his debts and lost AC Milan.

The purchase price is 7.4 million euros, plus the subsequent capital injection of 1.78 million euros, a total of 9.18 million euros.

With a stud, he lost all his hair, and Li Yonghong left AC Milan.

And Elliott used a loan of 3 million euros, plus the interest on the loan for more than a year, to win 99.93% of the equity of the AC Milan club.

Zhang Yida heard in his previous life that the 14-month interest on this loan was about 8000 million euros, and the annual interest rate was about 23%.

Dare to borrow with such a high interest rate, Zhang Yida guessed that Li Yonghong felt sorry for the 2 million euro deposit, and the sunk cost was too high.

Simply take out a loan and take a gamble.If AC Milan's performance improves, it will not only successfully solve the problem, but may also make a small profit.

The mentality of a gambler can be seen from the fact that he spent 2 million euros in the transfer market to buy football stars in one year.

In terms of net transfer investment, it is second only to Paris, which introduced Neymar that year, and higher than Manchester City and Manchester United, ranking No.2 in the European football market that year.

After spending so much money, all they bought were parallel imports, and the team's performance did not improve. At the same time, it violated the "Financial Fair Play Regulations" and was banned from participating in the European League.

Zhang Yida withdrew his memory and said to Li Hengbo: "Look, the local tyrants in the Middle East have so much fun playing football.

In my opinion, Temasek can buy a football team. "

(End of this chapter)