Miller paced the floor of his opulent penthouse, a storm brewing within him. His coffers were overflowing, thanks to the astronomical returns from his investments in tech titans like Google, Alibaba, and Tencent. Yet, the sheer weight of this wealth felt like a burden. It was a shame to let such a fortune languish in the bank.
In the year 2000, $500 million might not seem like a staggering sum, but in the present day, it was a colossal fortune. To put it into perspective, Zinedine Zidane’s world-record transfer fee at the time was a mere $64 million. And just a few years later, Thaksin Shinawatra had acquired controlling interest in Manchester City for a little over £80 million.
Miller knew he couldn’t simply knock on Manchester City’s door and demand ownership. He needed a strategic ally. With a determined glint in his eye, he booked a flight to the United Kingdom.
In London, Miller sought out the Manchester branch of JPMorgan Chase. He didn’t want to entrust the acquisition to just anyone. He needed someone with a proven track record in the business world. "I want to speak with your senior manager, Ed Woodward," he declared.
The receptionist, a striking young woman, politely inquired if he had an appointment. Miller shook his head. "I'm here to discuss a business opportunity."
After a brief phone call, the receptionist led Miller to a small meeting room. As he waited, he couldn’t help but admire the receptionist’s poise and confidence.
Soon, Ed Woodward entered the room. This man, who would later become synonymous with controversy at Manchester United, was still a rising star at JPMorgan Chase. Despite his youthful appearance, Woodward exuded an air of authority.
Miller introduced himself and wasted no time stating his intentions. "Mr. Woodward, I want you to help me acquire Manchester City Football Club."
Woodward’s eyebrows shot up in surprise. "Are you sure you mean Manchester City Football Club?" he asked, a hint of disbelief in his voice.
Miller nodded confidently. "That's correct."
Woodward's eyes narrowed as he assessed Miller. He had never encountered anyone quite like him. "Mr. Yang, the current market value of Manchester City is well over £80 million. Are you serious about this?"
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Miller reached into his briefcase and pulled out a document detailing his net worth. Woodward's eyes widened as he took in the staggering figures. "I apologize, Mr. Miller. I didn't mean to doubt you."
Miller wasn't interested in a debate. "Tell me, Woodward," he challenged, "have you even heard of Manchester City?"
Woodward sighed, a hint of amusement flickering in his eyes. "Honestly, my old man bleeds red for Manchester United."
Miller's gaze never faltered. "So, are you in or out on this business deal?"
Woodward's smile returned, slick and professional. "Of course, Mr. Yang. We, at JPMorgan Chase, are in the business of fulfilling our clients' needs!"
Miller gave a curt nod. "Excellent. I expect your acquisition plan on my desk within three days."
Woodward's reputation for efficiency held true. In just 24 hours, Miller received a call.
"I've been in touch with John Waddell, the owner of Manchester City," Woodward began. "He's open to selling."
Miller understood the game. Waddell, like any shrewd businessman, was waiting for a hefty offer.
"So, what's his price tag?" Miller inquired.
"One hundred million pounds," Woodward revealed.
Miller chuckled, a dry sound. John Waddell, controlling 68% of the club with another 25% belonging to his friend David Martin, was clearly inflating the value. For a club estimated at £80 million, this was a blatant overreach.
However, Miller knew Woodward wouldn't simply pass on such a ridiculous price. He waited for the next move.
"But," Woodward continued, "I've persuaded Mr. Waddell to be flexible."
Predictable. Miller cut him short. "Let's hear it. What's the new price?"
"Mr. Waddell is willing to sell his shares for around £70 million," Woodward declared.
This offer, though still 20% above the estimated value, was a step in the right direction.
Miller decided to counter. "My offer is £90 million."
Woodward's surprise was evident. "For all shares?"
"Precisely," Miller confirmed with a smile. "How much you can negotiate down from that figure is your skill. Consider the surplus your performance bonus."
Woodward's eyes lit up. "Mr. Yang, consider it done! You'll have good news soon!"
With the phone call over, Miller began his calculations. In his mind, £90 million represented a fair market value. Manchester City wasn't a risky acquisition, but a premium was expected.
Offering the full price wasn't just a test of Woodward's negotiation skills; it was also a strategic bribe. The lure of extra money had undoubtedly spurred Woodward into action.
True to his word, Woodward called back the following day. "We have a deal, Mr. Yang. The final price is £88 million."
This meant Woodward had secured a £2 million bonus for his company, translating to at least a cool million for himself.
Miller used this opportunity to plant a seed. "Mr. Woodward," he began, "would you be interested in joining Manchester City as CEO?"
Woodward was speechless for a moment. Then, he finally spoke, a hint of amusement back in his voice. "Mr. Yang, did I forget to mention my father's undying loyalty to Manchester United?"
Miller met his gaze. "So? How much extra would that cost?" he asked, a slight smirk playing on his lips.