Football Dynasty-Chapter 71: The Last Nail In The Coffin

A few key points before the 1994/1995 season began.

Richard dropped his case in the European Court against the FA and UEFA.

English football was turned upside down by the news of the sexual abuse scandal, keeping both the FA and the Premier League busy.

Richard's revenue from pay-per-view (PPV) events in the WWF has paid off handsomely over the past six years. Having invested in the WWF back in 1988, he now holds a 30% stake in their annual yearly events PPV. This investment has earned him £200 million, boosting his total assets to £300 million.

1989: $147.836 million (30%) → 1989: $44.35 million

1990: $144.07 million (30%) → 1990: $43.22 million

1991: $126.2 million (30%) → 1991: $37.86 million

1992: $123.32 million (30%) → 1992: $36.99 million

1993: $89.24 million (30%) → 1993: $26.77 million

1994: $87.4 million (30%) → 1993: $26.22 million

The total of $215.41 million, when converted to pounds, would be £200 million. This is the total cash he currently has on hand, by the way.

Previously, with his £229 million in cash plus a £71 million loan—totaling £300 million—he managed to acquire the Midland Grand Hotel for £150 million. Additionally, he secured three building complexes in Wilmington Square Garden for £50 million, negotiating down from the original asking price of £60 million.

"I need money," Richard suddenly said as he looked at the newspaper in front of him.

Securing the property alone wasn't enough. He needed to refurbish everything to ensure smooth operations once it was up and running, allowing it to generate revenue. That would require additional funds. But that could wait.

What couldn't was the unexpected news that had just caught him off guard. The bold headline immediately grabbed his attention.

"BMW MOVES TO ACQUIRE BRITISH AEROSPACE'S 80% STAKE IN ROVER GROUP"

"GERMAN AUTOMAKER IN TALKS FOR LANDMARK TAKEOVER"

"FUTURE OF BRITAIN'S ICONIC CAR BRAND HANGS IN THE BALANCE"

This topic was being widely discussed across the country, and the reason was simple. Rover was one of Britain's last major car manufacturers, and its sale to a German company sparked concerns about the decline of British industry.

Many saw it as a loss of national pride. Richard tapped his fingers on the table in deep contemplation before swiftly making a call to Taylor Smith at Barclays to gather more information.

It didn't take long for him to receive an update. The current market capitalization of Rover Group stood at $1.2 billion. British Aerospace owned 80% of Rover's stock, amounting to approximately $960 million, while the remaining 20% was held by Honda.

"Why do you ask? Don't tell me you're thinking of acquiring Rover."

"I am. That's exactly my plan."

"...You're not serious, right?"

"I wouldn't have called you if I wasn't."

"Do you even have the money for this?"

"Right now, I have £300 million."

"You're not asking for another loan, are you?"

"That's why I called."

A brief silence followed. Richard could tell the hesitation on the other end of the line, so he pressed forward.

"Listen, I can put up my assets as collateral. I have the Midland Grand Hotel (£150M), the Britannia Inter-Continental London (£40M), and an apartment complex (£50M). That alone adds up to £240 million.

I also own a plot of land in Mayfair (£30M) and another in Islington (£30M), right near St. Mary's Parish Church. That brings the total to £300 million."

The plot of land in Islington, right near St. Mary's Parish Church, was originally set aside for Harry, his older brother, to build a supermarket—if he still wanted to pursue that dream. However, given his brother's situation in Oxford, Richard couldn't help but twitch his mouth in mild frustration.

Harry had entered Oxford in 1989 with Richard's support, yet now, in 1994, he still hadn't graduated. Richard shook his head helplessly. Thankfully, Harry hadn't given up yet and had promised to graduate by 1995—next year.

So, rather than letting the land sit unused, Richard thought it would be better to use it as collateral—especially if it meant securing the opportunity to acquire Rover.

Thanks to George Soros breaking the Bank of England in 1992, the pound collapsed, causing property prices to fall to an all-time low. However, the devaluation of the pound also revitalized the UK's domestic market, allowing it to bounce back. As a result, Richard's land and property assets have now significantly increased in value.

Now, that asset alone already £300 million and + his £300 million cash on hand = £600 million

Richard continued, "And don't forget my stake in the WWF. Over the past six years, it alone has brought me £200 million. Altogether, I have well over half a billion in assets. Now, tell me—can Barclays finance me for this acquisition?"

There was a long pause on the other end of the line. Richard could almost hear Smith weighing the risks in his head. Sensing hesitation, he decided to play his trump card.

"This isn't just about acquiring Rover for the sake of it," Richard said firmly. "This is about restoring a British icon. BMW wants Rover, sure, but for what? To strip it for technology and rebrand it? To use it as an entry into the British market and then discard the leftovers?"

In the future, instead of turning Rover into a profitable brand, BMW would lose billions, eventually giving up and selling Rover's remnants to Ford while letting go of MG and the Rover brand altogether—leading to the company's complete collapse in 2000.

Of course, Richard didn't know this. But in hindsight, his decision would prove to be a natural stroke of good fortune.

"Do you know anything about cars?" Smith finally asked the most important question.

Richard paused for a moment, considering his response. The truth was, he wasn't an expert in cars—but that didn't mean he couldn't manage the business effectively.

"Well, don't forget that Honda. Instead of going at it alone, why not form a strategic partnership with them? Besides, I only need to focus on the business side—finances, branding, and market positioning—while leaving the technical aspects to the professionals. Isn't that how it's usually done? Listen, Barclays backing me on this would be a wise move."

Taylor sighed. "I'll need to run this by the board. Even with your assets, this is a significant sum. You'd need more than just Barclays to make this happen."

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Richard slumped, the weight of disappointment settling in. "That's fine. If you can't do it, I can still ask Harris for help."

Smith rubbed his temple upon hearing this. "Fine, fine. But don't get ahead of yourself—no promises yet."

Richard leaned forward, his eyes gleaming. "Hahaha, that's all I need for now."

As he hung up, Richard thought for a moment before ultimately deciding to call Harris from Lloyds Banking Group—just in case Barclays turned him down.

Let's move into football now and focus on Manchester City.

The club was hit hardest in the past two years. In the 1992/1993, they were relegated from the Premier League to the Football League Division One (second tier).

The despair came suddenly, and the following season, City was not only relegated again but fell further to the Football League Division Two (third tier).

To make matters worse, they were also caught up in a scandal.

Based on the latest information he received, fans gathered outside the main entrance at Maine Road, demanding the proverbial head of chairman Francis Lee.

They called on him to fulfill his promise and jump from the Kippax Stand.

As the saying goes, be careful what you say, because it might come back to haunt you.

The only trophy won during Swales' time as chairman was the 1976 League Cup, the last major silverware the club would claim for the next 35 years. Swales hired and fired eleven managers during his reign, but the club never seemed to move forward.

As for Francis Lee... well, being relegated two years in a row was quite an achievement in its own right. Lee's choice of manager, Alan Ball, won only 26% of his games in charge, securing 23 victories out of 89 matches. The rest were 25 draws and 41 defeats.

The media had officially labeled Manchester City as "Typical City"—a club that would build you up, make you believe, and then throw it all away. Their back-to-back relegations under Lee became a bizarre and infamous record of decline.

The deal was supposed to be swift, but Richard, wanting to enter the bidding war for Rover Group, needed to drive down City's value as much as possible.

When the next Annual General Meeting (AGM) arrived, it became Richard Maddox vs. Francis Lee.

"You're crazy!" Francis bellowed, fuming with anger.

Before Lee's consortium took over, City's share value stood at £3,888, with a total club value of £8,009,880 and 2,060 shares issued.

Two years after Lee took charge, the value had dropped to £2,600, reducing the club's total value to £5,356,000.

Now, Richard wanted to buy all of Francis's shares for just £1,000 per share, which would lower the current club price to £2,060,000.

"Chairman Lee, I think I need to remind you that Manchester City is no longer the club it once was under your leadership. Third tier! And what about the sex abuse scandal that has plagued the club? Chairman Lee, as the majority owner, I am deeply disappointed."

Lee's face turned red with the accusation. "I have nothing to do with the scandal!!!"

But no matter what he said, the fact remained—two relegations and the scandal already spoke volumes.

The negotiation fell through, but Richard didn't mind. No matter what happened, Lee couldn't escape his grasp

Lee's consortium was considerable and influential, with strong connections. Eventually, Francis Lee managed to find an investor who was interested in his shares—Saudi billionaire Prince Walid, who was looking to make a £5 million investment.

The price hung in the air for a moment. "Francis, to be honest, City's situation is dire. I can't make a decision under these circumstances. There are many clubs far more attractive than City, especially now that they're in the third tier."

Lee's mouth twitched. 'Why not just say you want to lower the price?'

He took a deep breath before asking, "Prince Walid, what price are you willing to offer?"

'As long as it's not in the millions, everything is fine,' he thought.

The prince shook his head. "Francis, money is not an issue for me. What I need to see is the club's situation—the club's accounts. You understand what I mean?"

In other words, all the money flowing from every shareholder—everything, including any personal or corporate transactions tied to City. Francis felt his heart sink. That meant it would be like opening up half of the books from Lee's consortium.

He rejected Prince Walid's offer.

The second person Francis Lee wanted to woo was Wigan chairman Dave Whelan. He hoped to bring Dave on board as an investor in the club, but would he be willing?

Everyone knew about the infamous Richard suing the FA and UEFA in European courts, and even though the case had been dropped, there were rumors circulating that the FA and Premier League were discussing tightening the rules around English club ownership.

"Lee, I'll be honest with you," Dave Whelan said, leaning back in his chair. "Between Manchester City and Wigan, which one is in a better position right now?"

Francis Lee smirked, ready to make the first move. "Well, Wigan's not in a better position than City. You're also in Division Two. Don't even try to tell me Wigan's in a better spot."

Dave Whelan looked at him, unimpressed. "But Wigan's never been involved in any scandals."

Francis Lee's eyes widened at the jab. "I—" he stammered, fumbling for a response, unable to find the words.

Whelan shrugged. "Life's not fair, Francis. But at least we manage to keep our lower halves out of the headlines and clean."

Francis Lee was left speechless, his jaw dropping in disbelief at the remark.