Became The Premier League’S Youngest Manager [EN]: Chapter 188

188: Acquisition

“There were offers. Offers you didn’t tell me about.”

After a meeting that included the club’s core management, the three members of the Cartwright family moved to Helena’s office.

Ian Cartwright, the father and son who shared the same name, sat on one sofa, while Helena sat on the opposite sofa, launching her accusation.

Ian Cartwright II remained silent at his daughter’s sharp question.

It was her brother, Ian Cartwright III, who responded.

“Of course.”

“It must have been a good offer.”

Ian Cartwright III frowned slightly at her sarcastic remark, but her father answered the initial question.

“It wasn’t just one offer.”

“…Then?”

At Helena’s question, her brother sighed and explained.

“We received dozens of offers from all over the world. Every American tycoon wanting to get involved in European football, mega-funds and sports agencies looking to build global football club systems, and even sovereign wealth funds and tycoons from the Middle East and East Asia who want the prestige of owning an English Premier League club are all desperate to have Burnley.”

“…I see.”

Ian Cartwright III clicked his tongue at his sister’s murmur, as if she hadn’t even considered it.

“Think about it. With you and Hyungmin leading, Burnley has completely revived. They’ve lifted three trophies in the last two seasons, and one of them was even the Europa League!”

Ian Cartwright III spread his hands as if to emphasize his amazement.

“One of the world’s leading young managers is building a young and attractive team, making it a team that all young players want to join. Now, no promising player in the world can easily turn down an offer from Burnley.”

Helena, who had witnessed how easily Burnley had been able to sign players during the previous summer transfer window, remained silent.

Even in cases where deals fell through, it was because the financial terms weren’t right, not because any player or agent said they didn’t want to come to Burnley for sporting reasons or reputation.

“On top of that, even after rebuilding the stadium beautifully, they’ve hardly incurred any debt thanks to player sales revenue. Burnley is no longer just a mediocre rural football club. It’s become a gem in the Northwest of England that everyone covets.”

“…And because Burnley’s current owner, Cartwright Fund, is known for not holding onto companies for long, everyone knows they’ll eventually sell, so they’ve all smelled blood.”

Ian Cartwright II, who had been silent at his daughter’s cynical reaction, shook his head.

“There’s no need to be so wary. Even if they are sharks, we are the Cartwrights.”

It was arrogance, but the three people sitting in this room with the Cartwright name had the right to say such things.

A legendary investment family that had been around for three generations on Wall Street, where dozens of investment firms are born and disappear every day.

Wealthy people from all over the world line up with their money to invest in the fund, but the Cartwright Fund consistently records undefeated returns every year without being greedy to expand unnecessarily or making rash mistakes in investments.

If Warren Buffett, another Wall Street legend, made a name for himself by acquiring companies and holding them for the long term, the Cartwright Fund built its reputation on a masterful combination of investment and management, reviving companies and finding them good owners.

As if snapping out of it at her father’s calm but firm words, Helena took a deep breath.

“I see. So, specifically, who are the potential partners for acquisition?”

If they had sold the revived company simply for financial compensation, they would not have maintained their three-generation reputation.

The Cartwright Fund only approves a sale if it is confident that the acquiring party will manage the company well in the long term, in addition to financial compensation.

“There are a few. First, there’s the Steinbrenner family.”

“Oh ho.”

Helena, who had not been interested in sports until she came to Burnley, knew the Steinbrenner family.

The Steinbrenner family, who made a fortune in the transportation industry, made their name in the sports world when George Steinbrenner II acquired the New York Yankees.

He led the New York Yankees to seven championships during his 37-year tenure as owner through aggressive investment but was also notorious for his eccentric personality.

Now, his son Hal Steinbrenner is in charge of the team’s management, but he hasn’t exactly stood out.

“It seems John Henry from next door, who owns the Boston Red Sox, has been bragging a lot about owning Liverpool too.”

Helena said, looking displeased.

“Maybe so. Hehehe.”

New York is a small town, and the people who have made great fortunes there are all neighbors.

The brother and sister, who were on the same wavelength for the first time in a while, chuckled as they gossiped about their neighbors.

“Besides them, there aren’t many who seem to really understand sports. Of course, Red Bull has also expressed their interest.”

With the exception of the Abu Dhabi Group, which owns Manchester City, Red Bull has built the most global football club system.

The Abu Dhabi Group, which already owns an English Premier League club, cannot acquire Burnley, so Red Bull, which has already established a solid system in football in Germany, Austria, the United States, and even Brazil, could be a good candidate.

Ian Cartwright III watched Helena carefully as she slowly nodded, and then named the final candidate.

“But the most promising is Billy Beane from RedBird. You know RedBird, don’t you?”

“Of course.”

After retiring as the GM [General Manager] of the Oakland Athletics, famous for Moneyball [a data-driven approach to baseball team management], Billy Beane’s next venture was to build a global football club system like Red Bull.

He partnered with the private equity firm RedBird Capital to establish RedBird’s special purpose acquisition company.

RedBird, which also holds a stake in Fenway Sports Group, which owns the Boston Red Sox and Liverpool Football Club, owned Toulouse in France’s Ligue 1 [French professional league for football clubs], but it wasn’t until they acquired AC Milan for $1.2 billion in the summer of 2022, marking a spectacular return with the Serie A [Italian professional league for football clubs] title, that they really made a name for themselves in the football world.

“Hmm… Red Bull and RedBird are both not bad. Of course, there is a clause that teams owned by the same owner cannot participate in multiple European competitions, but if that can be worked out with UEFA [Union of European Football Associations], it wouldn’t be bad.”

Helena said after a moment of thought.

Certainly, AC Milan has been growing well under RedBird’s ownership, maintaining the existing system of football director Paolo Maldini.

If RedBird, which seems to understand football well, acquires Burnley, there is little risk of the team falling into a pit in the short term.

Not to mention Red Bull, which has been systematically operating football clubs for a long time.

The fact that there are already many people from Red Bull in Burnley, including Hyungmin and Carolina, is also a positive.

Ian Cartwright II, who had been watching his daughter, who seemed to have overcome the initial shock and anger, opened his tightly closed mouth.

“But if you want to stay here, you can.”

“…Pardon?”

Helena asked back with a bewildered expression.

As if the discussion was over, Ian Cartwright III quietly watched his father and sister’s conversation.

“I mean, if you want to stay in Burnley and continue to run it, you can. We can easily recover the amount we invested over the next few years just with dividends, so there won’t be any problems with the club’s operation.”

In fact, the funds that the Cartwright Fund invested in Burnley were the initial £20 million spent to acquire the club and an additional £10 million invested twice.

A total of £40 million was invested, but Burnley’s bank account alone has nearly £200 million sitting idle.

Even if they were to repay the £100 million borrowed interest-free to rebuild the stadium in one go, they would still have £100 million left.

On top of that, the additional revenue expected from the stadium reconstruction alone is £70 million per year.

Even if they receive £10 million in dividends every year for the next four years, there will be no problem with the club’s operation at all.

This was thanks to Burnley’s dramatically changed financial situation compared to when it was first acquired.

“Then what are you planning to do with Burnley?”

Helena asked with a puzzled expression.

“We’re thinking of transferring it to Cartwright Perpetual.”

“That…”

Cartwright Perpetual, a permanent fund established for the Cartwright family’s charitable activities.

A fund that only contains the Cartwright family’s private assets, it owns or supports various charitable and cultural activities, educational and cultural facilities in New York City, and relief centers and art galleries that the Cartwright family sponsors.

In a broad sense, sports can be seen as a form of cultural activity, but Burnley Football Club does not fit well with the nature of Cartwright Perpetual, which aims to give back to society.

However, the first thought that came to Helena’s mind was not about concerns about the family’s charitable fund.

“There could be a lot of backlash from the fund’s investors.”

Of course, they will pay a fair price, but if Burnley Football Club, which can bring huge returns, is transferred to the Cartwright family’s own fund, investors may strongly object.

Ian Cartwright III, cynical, said to Helena, who had returned as a director of the Cartwright Fund, worried.

“If we make up for the average annual return, they won’t be able to say anything. If they object too much, we can just tell them to withdraw from the next fund.”

Becoming a new investor in the Cartwright Fund is as difficult as winning the lottery.

They create a fund of a certain amount each year, and once that amount is filled, they close the fund’s doors without looking back.

As a result, there is a waiting list every year, and most of the people on the waiting list are carried over to the following year without being able to invest a single dollar.

Moreover, due to the Cartwright Fund’s emphasis on long-term relationships, if there is a connection from previous generations, they will gladly accept even a small investment of $1,000, skipping ahead of the waiting line, but once the relationship is broken, even sovereign wealth funds from oil-producing countries can be turned away.

The reason why hundreds of millions of dollars invested by some of the world’s leading sovereign wealth funds are invested alongside thousands of dollars in savings invested by small business owners or ordinary former teachers in New York City to prepare for their children’s college tuition or retirement funds.

If someone makes a fuss about a fund that has been building up undefeated returns in this way and is kicked out for damaging the relationship, that person will be fired immediately.

It was also a ruthless measure befitting the Cartwright family’s tacit family motto: “The blood and tears you shed in the negotiating room are yours.”

“There is something more important than that.”

Helena, who had been lost in thought at the unexpected proposal, looked up sharply at her father’s words.

“Do you want to stay in Burnley? To be precise, are you fond of Burnley Football Club, or a man named Hyungmin Kim?”

“…”