After Zhang Yida and Li Hengbo reached a deal, the latter came forward to chat with Li Yonghong.
On behalf of Temasek, Li Hengbo proposed several loan conditions to Li Yonghong.
Li Yonghong is required to first use domestic assets, including shares, real estate, etc., as collateral.
After the delivery of AC Milan shares is completed, the loan collateral will be changed into AC Milan shares.
At the same time, he also took out an agreement, which contained a variety of dazzling terms, including interest rates, penalty interests, methods for handling loan defaults, club compulsory takeover procedures, etc.
After seeing it, the lawyer hired by Li Yonghong shook his head repeatedly and called it too exaggerated.
Li Yonghong's face also looked a little ugly. This was simply taking advantage of others' misfortune!
Li Hengbo was not too pushy, as if he wanted to sign or not.
Li Yonghong finally said he wanted to go back and think about it, but did not sign the contract immediately.
After Zhang Yida learned the news, he said to Li Hengbo: "Okay, let's do this for now! Let's see what he chooses."
To Zhang Yida, it doesn't matter whether Li Yonghong takes the bait or not.
Of course it's best if you take the bait. It's better to take advantage of the US emperor than to take advantage of me and avoid the loss of China's assets.
If you don’t take the bait, don’t force it. After all, you can’t force this kind of thing.
However, the conditions offered by Zhang Yida were still much more kind than those offered by Elliott.
In his previous life, Elliott only gave Li Yonghong a symbolic compensation of "$2", while Zhang Yida offered a price of $2 million.
In addition, in terms of interest rates, including various penalties, the maximum annual interest rate is only 20%, which is still much lower than Elliott's 23%.
If this is the case, Li Yonghong still chooses to borrow money from Elliott, and Zhang Yida has no choice.
After ending Li Yonghong's episode, Zhang Yida turned his attention to Tottenham again.
Despite the turmoil of public opinion and fan demonstrations, Levi and Lewis did not end their contact with Zhang Yida.
However, the two parties did not meet again, but arranged for subordinate teams to connect.
Zhang Yida is not so enthusiastic about acquiring Tottenham now. The first is that the price offered by the two Jews is too dark and they still refuse to let go;
The second is the addition of AC Milan as an alternative;
The third thing is that after visiting various Chinese-funded clubs, he realized many practical difficulties.
Football doesn't mean you can play well just by having money. Of course, if you imitate the desert tycoons and burn money for a long time, you will definitely achieve certain results.
The key is that his current strength does not allow him to do this.
At present, the outside world says that he is a billionaire.
But he is very clear. Now he is just a small entrepreneur. The so-called assets of hundreds of billions are also very watery.
Now, without selling assets or pledging equity, he is able to come up with more than US$2 billion in cash.
Moreover, it will take some time to raise enough money to sell and redeem the various bonds, stocks, equities, real estate, and hedge funds purchased by the family office.
Part of the money used to acquire the football team will also be spent from the family office.
The maximum price he can bear for Tottenham is 1.2 billion pounds. Based on today's pound to renminbi exchange rate of 1:8.3111, it is 9.973 billion yuan, close to 10 billion.
ENIC Group holds 85.55% of Tottenham's shares. If it takes this share, it will control Tottenham.
Zhang Yida’s family office has to spend at least 2 billion yuan, and the rest will use fund raising and financial leverage.
In his previous life, Cai Xin spent US$2.35 billion to acquire the Nets and also used the family office Bluepool Capital.
Founded in 2014, Blue Pool Capital is a family wealth fund jointly established by Jack Ma and Cai Xin, the core founder of Ali Baba, and others. It is not well-known and has an office address in Central, Hong Kong.
Some media reported that Jack Ma’s wife Zhang Ying once complained to friends that Blue Pool Capital was not efficient and suggested hiring another fund manager to engage in “horse racing”.
Cai Xin is a Canadian national. He acquired the Nets mostly because he wanted to use the NBA to break into the upper class society in the United States.
At the same time, the commercial value of the NBA league is increasing year by year, which is also a very good target for the concept of diversified investment by family offices.
To put it bluntly, it means that the United States is putting some assets into the country, but it is a cunning rabbit with three holes.
Zhang Yida didn't have such ulterior motives in wanting to acquire Tottenham.
All they want to do is use the football club to open up the situation and become the bridgehead to enter Europe.
Musical.ly and even other companies want to become a global technology company. On the one hand, they cannot do without technological innovation and superb operations. On the other hand, they also need the founders to actively increase their global visibility.
In addition, Premier League clubs such as Tottenham are also in good financial condition and have begun to build their own blood, getting rid of their dependence on their bosses.
In the 2016-17 season, 18 of the 20 Premier League teams made pre-tax profits.
A football club with an annual profit of tens of millions of pounds, and its commercial value is still growing, is considered a high-quality investment target.
Levy's shrewdness is also well-known throughout the Premier League. Tottenham's performance in recent seasons has been a mess.
In this case, after he relented to 2 billion pounds, he never relented again.
Zhang Yida was helpless when he heard this quotation.
Tottenham haven't reached their peak yet. In two years' time, they will reach the Champions League finals, with annual revenue exceeding 400 million pounds and annual profits exceeding 100 million pounds. Wouldn't they have to quote 4 billion pounds?
Zhang Yida asked the negotiators to continue negotiating with Tottenham and returned to China.
…
On January 15, local time in the United States, Yimindai submitted a prospectus to the U.S. SEC.
The prospectus shows that Yimindai plans to be listed on the New York Stock Exchange with the stock code "YMD" and the maximum planned fundraising amount is US$500 million.
Morgan Stanley, Bank of America Merrill Lynch, Goldman Sachs, and CICC are the underwriters of this listing.
Stimulated by this news, Miaofenqi CEO Lu Min also launched a Pre-IPO round of financing.
As a shareholder of Miaofenqi, Ruixiang Digital Technology Group was also invited to participate in the financing meeting.
Zhang Yida originally wanted to send Lan Lan to attend the meeting, but Lu Min invited him by name.
So he had no choice but to attend the meeting in person and take a look at what medicines Lu Min was selling in his gourd.
At the beginning of 2014, Lu Min came to our door and introduced the business model and prospects of Yimiao Financing.
Zhang Yida gave him 8 million yuan to help Miao Fenfen complete angel round financing in installments and obtain 20% of the company's shares.
At that time, the relationship between Zhang Yida and Lu Min was quite good.
When Mobao Pay established a university promotion alliance, Lu Min also asked Miaofenqi’s major campus agents to help;
In the early days, Miaofenfen developed campus installment shopping but lacked funds. Yimin Financial Management and Yimin Wealth also helped raise funds.
Later, when Leech Financial became a shareholder in Miao Fenfen, the relationship between Ruixiang and Miao Fenfen became more subtle.
Lu Min, who used to send him WeChat messages frequently and talk about starting a business, no longer contacts him much.
Zhang Yida still remembers that whenever he posted a post in his WeChat Moments, Lu Min would always like it and make a few comments.
Now I don’t even have eggs for myself anymore! This is such a reality.
Miaofenqi itself is also developing quite well, just as fast as in its previous life.
Counting the angel round invested by Zhang Yida, four rounds of financing were completed in 2014, with a total amount of tens of millions of dollars;
In 2015, it completed the D round of US$100 million and the E round of US$200 million.
This is the general financing situation. Leech Financial invested in the E round, which is almost a year and a half ago.
Ruixiang Group only invested 8 million in angel investment and did not make any follow-up investments, so its shares were diluted to only 10.24%.
The Bentley Mulsanne parked at the downstairs of the Qingkong Habitat Building. Qian Li opened the door for Zhang Yida, "Mr. Zhang, we're here!"
Zhang Yida opened his eyes and stopped thinking about Miao Fenqi.
After getting off the car, I straightened my clothes and walked into the building.
When he arrived at Miaofenqi Company, Zhang Yida walked towards the conference room under the guidance of the front desk.
Zhang Yida lamented that in the past, Lu Min would either go to the elevator entrance or go downstairs to greet him.
The wings are really hard now! It should be said that the backing is relatively hard.
Zhang Yida walked into the conference room and looked at it.
Oh, a lot of acquaintances!
Zhou Yahui from Kunlun Wanwei, Wu Shichun from Plum Blossom Angel Ventures, Du Li from Huasheng Co., Ltd. There are more than a dozen men and women in total.
"Hello, everyone!" Zhang Yida took the lead in saying hello.
"Mr. Zhang, please sit down quickly!"
"Hello, Mr. Zhang!"
"How dare we call ourselves bosses in front of Mr. Zhang?"
…
Others responded with smiles.
Lu Min forced a smile and said, "Mr. Zhang, long time no see!"
Zhang Yida looked at Lu Min. He had not seen him for more than a year, and he had changed a lot.
The former small-town youth now wears high-end suits and expensive watches... and looks very successful.
Seeing everyone greeting Zhang Yida, a thirty-five to six-year-old man with glasses sitting below Lu Min said with a pout, "The meeting time is up, let's catch up on old times later!"
Zhang Yida glanced at this person, thinking that I didn't offend you, why are you so arrogant?
This person didn't say hello to me just now. Could he be someone from Leech Golden Clothes?
"Okay, all the shareholders are here. Then the financing meeting can start."
Then, Lu Min asked a beautiful female secretary to send a financial statement to the investors and shareholders present.
Zhang Yida glanced at it casually and was shocked.
In 2016, revenue was 1.442 billion yuan and net profit was 577 million yuan.
The revenue is much lower than Yimindai, less than one-third of Yimindai, but the net profit is almost the same.
In other words, the net profit margin is three times that of Yimindai.
Lu Min sat in the front seat and said: "2016 was a year of turnaround for Miaofen.
In accordance with the requirements of national laws and regulations, Miaofen has withdrawn from the campus market in phases and is facing the social market...
During this year, we turned a loss into a profit and created a net profit of nearly 600 million yuan.
Here, I would like to thank all employees for their efforts, as well as shareholders and partners for their support and companionship.
In addition, our shareholder Leech Financial Services Group has given us great help during the transformation process of Miaofen. I personally and the company are extremely grateful."
Speaking of this, Lu Min looked at Zhu Chao, senior investment director of Leech Financial Services, and said with a smile: "I would also like to thank Director Zhu for introducing so many resources to the company since he became a director of the company."
"It should!" Zhu Chao smiled modestly.
"Okay, let's talk about financing! This financing is the last round of financing before Miaofen is listed."
Lu Min said again jokingly: "Shareholders who want to cash out should do so quickly!"
"According to the rules, the angel investors should exit first!" Zhu Chao looked at Zhang Yida pointedly.
"Yes, we, Lanchi Venture Capital, came in late. We only had a few shares, and all of them were gone."
Other shareholders also chimed in and complained.
"Among the shareholders here, the one with the least investment is Ruixiang. And it has never participated in the investment. Since it is not optimistic, it is best for everyone to exit as soon as possible."
Zhu Chao was the first to attack and glanced at Zhang Yida provocatively.
The other investors did not say anything. They did not dare to offend Zhang Yida if they dared to do so. After all, the Ruixiang Group and the Huayi Group have become popular in the venture capital market.
They looked at Zhang Yida secretly, paying attention to his reaction.
Zhang Yida smiled, feelings are like Hongmen Banquet!