My 1999

After the subprime mortgage crisis, real estate prices in Europe and the United States fell across the board.

Even prime locations such as Manhattan in New York and Canary Wharf in London will fall by 20 to 30%. That is a good time to buy the bottom.

"OK."

"David, the task of Manchester United Hotel this year is to accumulate experience and train staff. Next season, there will be four new Manchester United Hotels. You must inspect and prepare in advance."

David Gill nodded quickly.

"BOSS, don't worry, I will arrange everything in advance."

"How is the Xiangjiang Football School project going?"

Xu Liang has not forgotten that football training is also a place where he can make money.

"We have obtained the business license and will be able to officially start classes in September this year. It's going well in Singapore, and we're still talking about it in Shanghai."

David Gill said quickly.

"In addition to making money, if you come across a good seedling, send it to Carrington."

"Okay, BOSS."

"Has the registration of Manchester United TV been changed?" Xu Liang then asked.

"It has been changed. According to your request, Manchester United TV has been changed to Manchester United Media, which is divided into four departments: TV station, portal website, shopping website and advertising..."

"Split off the shopping website and build a B2C shopping website. I will bring some experienced employees from Hongmeng No. 1 Store to support you."

David Gill asked: "BOSS, does Manchester United's B2C business need to be like Amazon and No. 1 Store?"

“The business is similar, but the Manchester United Shopping Network is a business branch hatched by Manchester United. It naturally has certain limitations, so we don’t build a large and comprehensive website.

It is only a refined shopping website for Manchester United members, similar to the online version of the Manchester United member store. "

David Gill was stunned.

Xu Liang wants to make Manchester United Shopping Network into a lifestyle shopping platform similar to NetEase Yanxuan and Xiaomi Youpin.

He waved his hand.

Lu Hui handed over the information prepared in advance.

"This is a development plan I wrote about the Manchester United Shopping Network. Take it back and study it carefully. If you don't understand anything, call me."

David Gill breathed a sigh of relief, as long as he had the information.

He really doesn't know much about this new thing called the Internet.

"Has Manchester United Financial Company been registered?" Xu Liang asked again.

Manchester United has had financial services before. Fans can apply for credit cards, apply for bank mortgage loans, apply for insurance for their cars and travel, and even buy real estate through Manchester United's website.

But this is not enough.

The 21st century is the era of the Internet.

Moreover, the European financial system has developed for hundreds of years and its structure has been stable.

It is difficult for Manchester United's financial business to break through Manchester and develop around the world.

The Internet is the only breakthrough.

"It has been registered. According to your requirements, Hongmeng Pay will provide underlying technical support for Manchester United Financial. A mature website will be available in up to half a year."

Hongmeng Pay does not have an English website, so if Manchester United Financial wants to adopt the underlying structure of Hongmeng Pay, it must be revised. Although it is not complicated, it will take time.

“After the success of the website, we transplanted the business of Manchester United Financial to the Internet, and only set up one branch office in each city except Manchester.

All business has moved online, whether it is applying for credit cards or mortgage loans, it is all done online.

If you still don’t understand, you can take a look at PayPal in the United States and copy their business. "

Xu Liang did not mention Hongmeng Pay. Due to China’s financial laws, many Hongmeng Pay businesses have not been launched.

Moreover, China's financial environment is different from that of Europe and the United States. It has reference value, but it is not suitable for copying.

PayPal is different.

After agreeing, David Gill continued.

"BOSS, advancing your plan requires a lot of funds. I'm afraid it will be difficult to advance it in all aspects just relying on Manchester United's income."

Although Manchester United makes more money, it also has a lot of debt.

Especially when Xu Liang acquired Manchester United, he only spent 150 million pounds in cash out of a total purchase price of 420 million pounds.

That leaves £270m of debt unpaid.

This situation is obviously much better than that of the Glazer family.

The latter's successful acquisition of Manchester United in 2005 left the Red Devils with a debt of 660 million pounds and an interest rate of up to 16%.

Tottenham borrowed 800 million pounds to build a new stadium, and the annual principal and interest repayment was 40 million pounds. In the 18 years after Glazer acquired Manchester United, Manchester United's interest expenses alone were as high as 900 million pounds, with an average annual interest expense of 50 million.

Note that this is interest only and does not include principal.

Over the past 18 years, the Glazer family has not only invested a penny, but also taken away 155 million pounds from Manchester United.

Under such a huge debt, the Red Devils not only did not collapse, but also won three consecutive Champions League and league titles.

All I can say is that the old Sir Alex has real legs.

In comparison, Xu Liang's 270 million debt is really nothing.

And the interest on his debts is only 6%.

The reason why the interest rate is so low is not because he is handsome, although that is a fact; it is because he has encountered a good environment.

In 2002, the Federal Reserve released a lot of money, and the federal funds rate was as low as ever, 1% or even lower.

At this time, banks all over the world are begging you for loans.

Interest rates are being pushed down again and again.

It was different in 2005. In order to curb the increasingly crazy real estate market, the Federal Reserve continued to raise the federal funds rate.

In just one year, the interest rate was raised five times, and the interest rate, which was less than 2%, was raised to 5.56%.

Such a violent interest rate hike has caused the financing cost of the world to soar.

The Glazer family, who intervened in the acquisition of Manchester United in 2003, got up early and rushed to the market late.

And the most important point is.

Although Xu Liang acquired the company with debt, it was to improve the utilization rate of funds, not because he had no money.

The Glazer family really had no money.

Financial institutions are all vampires, and of course they will add insult to injury.

Although Manchester United's debt is not high, it still needs to repay nearly 30 million pounds of principal and interest every year.

After two years of repayment, the current debt is still 224 million pounds.

But the stars of Manchester United are all big spenders.

Roy Keane, who has left, has a weekly salary of 94,000 pounds.

Throughout the year, these Manchester United stars swallowed up a huge sum of 50 million pounds.

Add to that the coaching team, administrative staff, etc.

Manchester United's salary expenditure is nearly 65 million pounds.

This does not include transfers.

Transfers of big clubs rarely break even, most of them buy more than sell.

The current transfer price of top European players is generally above 15 million euros, and if they are superstars, it will definitely exceed 20 million euros.

For top superstars, 40 to 50 million euros is not uncommon.

If transfers are included, it is highly likely that the staff expenditure of the whole face will exceed 100 million pounds.

Fortunately, Beckham was sold in the 2003-2004 season, and Ferguson did not spend too much money on signings.

The highest Cristiano Ronaldo only spent 12 million pounds.

Saha spent 12.82 million pounds.

Apart from the two of them, the rest are just small changes.

The total expenditure on signings is about 35 million pounds, minus the 25 million pounds earned after selling Beckham.

The expenditure is not high.

In the 2004-2005 season, there was only one signing that cost more than 10 million pounds, and that was Rooney.

24 million pounds.

Diego Forlan and Wilfried Zaha, the former is 11 million euros, and the latter is 11.75 million euros.

Note that it is euros, not pounds.

This season is considered a season with high expenses for Manchester United, with salary expenditures plus signings of nearly 90 million pounds.

Xu Liang turned his head, "Alex, does the club have any major signings this year?"

To be considered a major signing, it must be a signing worth tens of millions of pounds.

The old Sir Alex thought about it and shook his head.

"Not yet."

The goalkeeper is there.

He has suitable candidates for the central defender and left back, and the transfer fee is not high.

He also has a suitable candidate for the defensive midfielder position, but the other party rejected his recruitment this year.

Modric, who the boss insisted on introducing, is not famous, and in Croatia, a rural area, the price will definitely not be too high.

When he introduces players, he never looks at whether they are famous or not, but whether they are suitable for Manchester United's lineup.

And the old Sir Alex has a big characteristic in introducing players.

Most of the signings that cost a lot of money come from Premier League teams.

The only exceptions are Veron and Van Nistelrooy introduced in 2001, and De Gea in 2011.

And there are very few fakes.

Of course, it may also be that Veron was injured.

28 million pounds was almost the top level in the football world in 2001. The only transfer that could exceed this was the famous Zidane + Pavon, with a total price of 75 million euros.

This price was sealed for eight years before it was broken by Cristiano Ronaldo in 2009.

The transfer fee of 96 million euros shocked the entire football world.

So much money was spent on introducing Veron, but it turned out to be fake.

You can imagine how much the Sir Alex felt.

After Veron, the Sir Alex rarely spent a lot of money to buy people from outside the Premier League.

Once he is not adapted to the rhythm of the Premier League, he will be the second Veron.

Another more important reason is the lack of money.

Carrying the huge debt of the Glazer family, the transfer fee is originally low, and safety is the most reasonable choice.

Players who can succeed in the Premier League will most likely succeed in Manchester United.

This is safety.

But it's different now.

Xu Liang's debt to Manchester United is not heavy.

Sir Alex Ferguson really wants to spend money, that's fine.

The key is that there is no suitable one.

Xu Liang then turned around and asked.

"David, how much money is left in the company's account?"

"There is still 30 million pounds in cash for Alex to recruit players." David Gill said.

Xu Liang nodded slightly. Even if Sir Alex Ferguson takes a fancy to another player later, this money, plus the funds recovered from selling players, is enough for this year's transfer expenses.