SWR: Chapter 871/874

Chapter 871: Big Deal

Barcelona, Joan Gamper Sports City.

When Barcelona president Sandro Rosell walked into the executive meeting room, he found several key senior staff already present.

Executive vice-president Bartomeu, vice-president of finance Javier Faus, and sporting director Andoni Zubizarreta were all seated and waiting.

"What's going on?" Rosell asked anxiously.

Bartomeu and Faus both turned to look at Zubizarreta, who had initiated this high-level meeting.

"I just received a fax from Valencia."

As he spoke, Zubizarreta stood up and distributed copies of the fax to his colleagues.

"Valencia's sporting director Braulio Vázquez said Real Madrid have officially submitted a €15 million offer for Jordi Alba."

The fax was essentially to notify Barcelona, since the club had already submitted an offer for Alba and the two sides had entered negotiations. Valencia was obligated to inform Barcelona of this new development.

"Damn it!" Rosell cursed angrily. "Is the news reliable?"

"It's confirmed. It's real," Zubizarreta replied.

"Weren't they in England? Who sent the fax to Valencia? Also, they already have Marcelo and Coentrão. Arbeloa can also play left-back. Why do they need another one?" Rosell was clearly agitated.

"Based on intelligence I gathered from various sources, I suspect it was Gao Shen who didn't want Coentrão."

Although it was just Zubizarreta's speculation, he felt confident in his assessment.

"You know, Real Madrid spent heavily in 2009 and again over the last two years. Now they're under financial pressure, so Gao Shen doesn't have much room to maneuver in the transfer market."

"After the smoking incident came out, Coentrão has fallen out of favor with fans. Selling him now could recoup around €20 million. Spending €15 million on Alba makes financial sense."

Even with that explanation, Rosell was still upset.

What is value?

Alba is a player developed by our La Masia academy. After flourishing at Valencia, we were the first club to target him.

So what does it mean for Real Madrid to swoop in now?

Rosell gritted his teeth, then turned to Zubizarreta. "Have you spoken to Alba's agent?"

"I did."

"What did he say?"

"He's kept the same stance. He thinks we shouldn't waste time over a €3 million price difference."

Since Abidal underwent a liver transplant, Barcelona had been actively looking for a new left-back.

Juan Vargas' form had declined in recent years, and the club wanted to push him by bringing in competition—hence the focus on Alba.

This former Barcelona youth product had played well at Valencia and had even been called up to the Spanish national team for the upcoming European Championship.

Barcelona had entered talks with Valencia, who wanted €15 million. But Barcelona stuck to €12 million, refusing to budge because they knew Valencia were in financial trouble and needed cash.

At the same time, Barcelona hoped that Alba and his agent would put more pressure on Valencia, possibly through public comments or even a formal transfer request.

But so far, Alba had not taken any such action.

In contrast, Arsenal's Alex Song was far more proactive.

The Arsenal captain made it clear to Barcelona that as long as the wages were right, he would confront Arsenal head-on.

Barcelona's offer for Song was around €15 million, a great value considering his market valuation on Transfermarkt was €27 million.

But Wenger was powerless.

If a player was determined to leave, there was little Arsenal could do to keep him.

Barcelona had used the same tactics in both transfers, but the unexpected twist was Real Madrid's sudden involvement.

"His agent also reminded us that Alba's release clause is €40 million. If Valencia decide not to sell and Alba performs well at the Euros, the price could be even higher by then."

Zubizarreta's words made Rosell fall into deep thought.

"What do you think?" the Barcelona president asked.

"I think we have to compete with Real Madrid. We've already gone public with our interest. Backing down now would be too late," Bartomeu said.

"But our finances are tight right now. Competing with Real Madrid for players isn't going to be easy!" Faus frowned.

As vice-president in charge of finance, ever since Rosell took office in 2010, Faus had been constantly dealing with budget issues and debt.

He had never known a moment of peace.

"Why don't we wait a bit longer?" Faus suggested.

Zubizarreta immediately objected. "We should either buy now or give up. Waiting will only hurt us. Alba is the starting left-back for the national team and will definitely perform well at the Euros. Then…"

He paused before continuing, "Besides, Real Madrid are moving quickly. I'm afraid they'll get there first."

Both sides made good arguments, leaving Rosell and Bartomeu caught in the middle.

All this because of that damn Gao Shen.

With left-backs like Marcelo and Coentrão already at Real Madrid, why did they need to go after Alba?

He was raised at La Masia. Would he even consider going to Real Madrid?

"We need to find a way to get Alba to reject Real Madrid publicly. Then we'll raise our offer and raise the funds. The finance department has to work something out. Let's move forward with this plan," Rosell concluded.

With the president making the final call, there was no more debate.

Everyone realized that with just one sentence from Gao Shen and one fax from Real Madrid, Barcelona would now have to pay several million more.

Infuriating!

…

Lass Diarra finally transferred to Anzhi in the Russian Premier League.

The French international left the top European leagues at the prime age of 27 to join the Russian side, sparking widespread curiosity and criticism from the French media.

But Diarra insisted repeatedly that he didn't go to Anzhi for the money.

Still, aside from money, it was hard to understand why he would choose to leave Manchester United, especially in a way that led to a falling out with Ferguson, effectively closing the door to any future in the top four leagues.

With that precedent, who would dare to sign him now?

After offloading Diarra, Ferguson once again made an offer to Leeds United, still aiming to sign French defensive midfielder Morgan Schneiderlin, offering £15 million.

But Leeds United once again rejected the offer.

Ferguson responded in a media interview by expressing interest in Fulham midfielder Mousa Dembélé.

The Belgian had just one year left on his contract and was drawing attention from Chelsea, Arsenal, and Tottenham. Fulham, however, were demanding £25 million.

In contrast, Schneiderlin met the criteria for English youth training, having spent three full years in English football before the age of 21.

This made him highly desirable for Chelsea, Arsenal, Tottenham, and Manchester United.

Now, every young player with domestic youth training credentials, ability, and potential is highly sought after.

At the end of May, Mourinho returned to the Premier League and rejoined Chelsea.

Schneiderlin's name appeared clearly on his transfer list. Chelsea made an official offer, raising their bid for the Leeds midfielder to £17 million.

That was a high price for a young player who had only played in the Championship.

But considering Schneiderlin's excellent performance in the League Cup last season and the fact that he was only 22 years old, his potential made the price acceptable.

Just as Leeds United were hesitating, Manchester United, who had already offered £20 million for Dembélé and been rejected by Fulham, turned around and submitted a £20 million offer for Schneiderlin.

This offer was impossible for Leeds United to refuse. They immediately accepted.

It was clear that Ferguson was determined to win a major trophy before retirement. To that end, he had fought with United's management for a significant transfer budget.

In addition to a midfielder, United were also targeting a striker, with Karim Benzema of Real Madrid on their radar.

…

After Schneiderlin successfully joined Manchester United for £20 million, Leeds United sold another player. Winger Yannick Bolasie transferred to newly promoted West Ham United for £10 million.

The reason was simple. Thanks to parachute payments, the wealthy West Ham could offer a higher salary than Leeds. Bolasie, already approaching his peak, wanted to cash in. Leeds had no choice but to let him go.

As June approached and the European Championship drew near, the Premier League transfer market was already in full swing.

Liverpool, under new head coach Brendan Rodgers, were determined to rebuild.

In a battle with Chelsea, the Reds successfully signed Adam Lallana from Leeds United for £25 million. They also signed Belgian striker Benteke and Clyne, a member of the England Olympic team, for £20 million and £15 million respectively.

Those three transfers cost Liverpool a combined £60 million—a massive outlay.

This time, their American owners were very generous.

Liverpool's transfer window was seen as a success. They managed to beat out multiple rivals to land both Lallana and Benteke.

A few days later, Leeds United announced the transfer of their main midfielder Paulinho to Chelsea for £20 million.

This was another major signing.

As a midfielder, Paulinho had won the Championship Bronze Boot last season. His performance had been phenomenal, attracting bids from Chelsea and Tottenham. After losing out on Schneiderlin, Chelsea ramped up their pursuit and signed Paulinho.

Tottenham then secured Fulham's Mousa Dembélé for £22 million.

Just before the start of the European Championship, Leeds United made another announcement. Their starting goalkeeper Courtois had been sold to Real Madrid for £20 million.

That was the seventh player Leeds had sold this summer.

Yet so far, they had signed only one player—José Fonte—raising concern in the media.

Selling off so many players didn't seem like the behavior of a newly promoted team.

Could it be that Leeds United were just trying to cash in on their Premier League status?

(To be continued.)

Chapter 872: The Man Who Can't Run Away or Be Defeated

Western suburbs of Paris, France.

The Rueil-Malmaison district is home to many African immigrants, and for some, it's considered a blemish on the otherwise glamorous image of Paris.

A black boy stepped out of a small bungalow and headed east along a narrow street.

He wasn't tall. His skin was dark, his head shaved, and he wore a plain red jersey that looked especially out of place in this neighborhood.

In fact, he was already twenty-one years old, but still looked short and small.

They said it was due to childhood malnutrition.

Or perhaps because his house was so cramped. Eight people squeezed into an incredibly tiny bungalow.

As a child, he followed his father through the streets picking up garbage.

Though short, he was agile and quick, and known for his sharp eye and fast hands when scavenging.

Even now, walking briskly down the street, he looked like he was back in those childhood days with his father, scavenging the streets.

If you head two kilometers east from his home, you'll find three sports fields lined up north to south.

To the north is a track field popular with runners. To the south are two standard football pitches side by side, and in between them stands a sports center.

This is the site of a football club called JS Suresnes.

An amateur team with little fame.

Few know that Everton center-back Sylvain Distin once trained here. After showing his potential, he was scouted by Paris Saint-Germain. His time at Suresnes was brief.

From a young age, the black boy heard people say football was a way to make money.

When he came to Suresnes and heard about Distin, he began to dream. He dreamed that one day he too could shine, get spotted by a big club, leave Suresnes, and take his family out of the crowded bungalow in Rueil-Malmaison.

But he was too short. Too skinny.

Peter Woyntina, the Polish coach, praised him for being smart, quick to learn, having fast reactions, great physical endurance, and incredible agility—but his health was simply too poor.

Being skinnier and shorter than others was a massive disadvantage on the pitch.

"Professional football is a physical game. You're not fit to play, N'Golo."

N'Golo Kanté had heard words like that countless times.

All the young players who came to JS Suresnes dreamed of going pro. Those with real talent were quickly picked up by other teams. The rest came to terms with their limitations, accepted their mediocrity, and moved on.

But he was the only one who stayed.

He played for this unknown amateur club on this uneven pitch for ten years.

He was easily overlooked. Students came and went, and no one ever really noticed him.

Until last year, when the club chairman, touched by Kanté's persistence and work ethic, arranged an opportunity for him to go to Boulogne-sur-Mer, a port city 260 kilometers away in northwestern France.

It was a Ligue 2 team, but already on the brink.

On Kanté's first day with the club, they told him another incredible story.

Franck Ribéry, the French international and Bayern Munich star, came from Boulogne.

Many legends surrounded Ribéry, like how he used to move bricks for a living, or how a teammate once followed him into a sketchy back alley...

Everyone at Boulogne idolized Ribéry and dreamed of escaping just like he did.

But Kanté didn't dare to dream like that.

Because he couldn't even secure a spot at Boulogne.

He was like a ghost. No one noticed him.

Except when it came to running.

Boulogne would occasionally hold extreme endurance runs. Kanté always finished first.

When everyone else dropped from exhaustion, he kept going, lap after lap, like he never got tired.

So they gave him a nickname: Indestructible Kanté.

Every day he rode his scooter, carrying a small backpack to and from training.

Football was his whole life.

Because he knew it was the only way out.

In the recently concluded season, Boulogne finished second to last in Ligue 2 and were relegated.

Kanté performed well in Boulogne's youth team. In the final round of the league, with the first team demoralized and disbanding after being relegated several rounds early, he was promoted in preparation for next season's French third-tier league.

Even so, he only got 11 minutes of playing time.

But fortunately, the club decided to keep him.

As soon as the season ended, Kanté returned to Rueil-Malmaison from Boulogne-sur-Mer. He shared the good news with his family, making them happy, and told them he was getting closer to taking them out of this hellhole.

He walked briskly all the way to JS Suresnes, eager to tell his old coaches and teammates.

But when he arrived after the two-kilometer walk, he found the training ground empty.

Fewer and fewer people were training. Coaches and management had all taken up part-time work.

Kanté stood on the sidelines, facing the worn pitch. He stared for a long time, as if he could still see the shadows of those he had once chased on this very field. As if he could see his younger self standing on the pitch, looking up at the sky, dreaming of the future.

He was already twenty-one years old.

Though he had not given up, he felt his dream was slipping further away.

Still, he would never give up. Not until the very end.

He wasn't just the Kanté who couldn't be killed—he was also the Kanté who couldn't be defeated!

Just as Kanté sighed deeply and turned to leave, the cheap Nokia in his pocket suddenly rang.

It was the cheapest phone he could buy when he left Boulogne. It could only make and receive calls.

"Hello?"

"Hello, is this N'Golo Kanté?"

"Yes, who's speaking?"

"Hi, N'Golo. I'm the chief scout for Premier League club Leeds United. My name is Steve Walsh."

"English... Premier League? Leeds United?"

"Yes. You've probably heard of our club."

"Of course. People say you're the best promoted team in Premier League history."

"Oh, thanks for the compliment. But let's get to the point," Steve Walsh said.

"Okay," Kanté replied, his voice trembling slightly.

"Someone recommended you to us. We sent scouts to Boulogne to evaluate you, including watching your training and matches. Though you only played in one Ligue 2 game, we believe you have great potential."

"Me?" Kanté was shocked.

"Of course."

"But... I only played 11 minutes," he said, struggling to believe it himself.

"Training is just as important, kid," Steve Walsh reassured him.

Kanté was stunned. No one had ever said something like that to him before. Never.

"Can I ask... who recommended me to you?"

Steve Walsh paused for about three seconds, then smiled and said, "You've definitely heard his name, kid."

Kanté didn't speak. He waited quietly.

"Gao Shen."

"Gao... Shen?" Kanté blurted out.

"Don't be surprised, kid. Someone sent him a video of your training. He watched it and thought you had great potential, so he recommended you to us. I've seen your matches and training footage. Your running and coverage are outstanding. Sure, you still have technical and tactical flaws, but we've also learned that you're a fast learner and progressing quickly."

"Come to Leeds United. We'll help you grow. You'll become an excellent professional player here."

"Can I really...?" Kanté's confidence faltered.

Everything had happened so suddenly. He was completely unprepared.

He knew Leeds United. He knew Gao Shen.

But what right did he have to be noticed by Leeds United and Gao Shen?

"I trust our scouting and our boss's judgment. He's the best talent spotter in the world."

Kanté was deeply moved.

He had every reason to be.

"We've already reached an agreement with Boulogne. They didn't even ask for a transfer fee. They gave you the green light," Steve Walsh said with a chuckle, like he was getting a great bargain.

"I'll arrange for our French scouts to visit you and your family to go over everything. Of course, if you'd like, you're welcome to come to Leeds directly and we can talk in person."

"Can I meet Gao Shen?" Kanté asked.

He really wanted to meet the man who had recommended him.

He'd seen him countless times in the news, on television.

"Not at the moment. He's still on holiday. But there might be a chance. He's mentioned your name to us several times. He said he saw something special in you."

Kanté was so emotional he almost cried.

Just moments ago, he was someone who couldn't even get playing time at a relegated Ligue 2 team. Now, he had been hand-picked by the world's best coach. The contrast was staggering.

So staggering, he could hardly believe it.

"Son, we understand your family's situation. Come take a look. If we sign, we'll arrange jobs for your family so you can all settle down in Leeds."

After hearing that, Kanté no longer had any reason to hesitate.

Leeds United had thought of everything. What more could he ask for?

"Sir, I want to go to Leeds United!"

"Good. Our team will get in touch with you and arrange your flight. We're looking forward to seeing you in Leeds."

After hanging up, Kanté stood there, still dazed.

He even felt like he was dreaming. It all felt surreal.

But looking at the phone still lit up in his hand, he knew it was real.

He had a strong feeling—his life was about to change.

From this moment on!

(To be continued.)

Chapter 873: Youth Training, We Are the Best

No one knew that while Kanté was receiving a call from Leeds United's chief scout Steve Walsh, four people entered a Moroccan restaurant one after another in the small town of Sarcelles, located 20 kilometers north of Rueil-Malmaison, on the northern outskirts of Paris.

Two African men were hosting their white guests, which was a common sight in Sarcelles, a community with a large immigrant population.

They asked for a quiet booth, ordered food, and began to chat.

The younger of the two Africans was 21-year-old Riyad Mahrez, a player from Ligue 2's relegation-threatened side Le Havre. Sitting beside him was his agent, Carmel Bengogam.

Across from them sat Leeds United's technical director Rodolfo Borrell, who had flown in from the UK, and one of Leeds' scouts based in France.

This meeting had been facilitated by Carmel and the French scout. Talks had been ongoing for nearly a month, and only recently had Mahrez agreed to meet in person.

Rodolfo Borrell was a world-renowned technical coach with his own unique approach to technical development.

Mahrez had started out playing street football, and even now, he still retained many streetball habits.

He had not played much for Le Havre's first team, and his physical strength was still lacking. That gave Borrell the perfect opportunity to assess him from a professional standpoint and promise him top-level guidance and development at Leeds United.

"To be honest, two years ago, you chose Le Havre over Paris Saint-Germain, Marseille, and Lyon. That proves your judgment was sound. Going to a big club too early isn't always the best move," Borrell said to Mahrez and his agent.

"The tempo, the dribbling style, the defensive intensity streetball players face—it's completely different from professional football. It takes time to adjust, and the physical demands are on another level."

"I've watched your performances for Le Havre II over the past two seasons. You scored 13 goals in 32 matches, and last season you netted 11 in 25. At the start of the season, you even came off the bench twice in Ligue 2. But the real story is what happened in the second half."

Borrell nodded with satisfaction.

"I think you've fully adapted to Ligue 2. Personally, I believe it's time to take the next step and maintain your upward trajectory."

Last season, Mahrez played nine Ligue 2 games, five as a substitute.

According to Leeds United's technical analysis, his early-season performances were underwhelming.

For example, in Round 2 against Laval, when teammate James Fanchone was injured early, Mahrez was subbed on in the 20th minute but was taken off in the 69th.

After that, he returned to the reserves, only getting first-team minutes when the squad was short-staffed.

By Round 33, Le Havre were 18th in the league, deep in the relegation zone and trailing Metz and Le Mans by three points. The situation was dire.

In that round, Le Havre faced second-place Reims at home, who were pushing for promotion to Ligue 1.

Mahrez was included in the matchday squad and subbed on for Fanchone in the 71st minute.

Five minutes later, Mahrez created the opportunity that helped Le Havre take the lead.

Although a late own goal from a center-back cost them the win, Mahrez's performance earned recognition.

He played in all of the final five matches and improved game by game.

Le Havre finished the season with three wins, one draw, and one loss in those five games, narrowly avoiding relegation. Mahrez had secured his place in the starting lineup.

…

"Unless something unexpected happens, you'll be Le Havre's starting winger next season. You're two-footed, can play on either flank, and will get more minutes. But I think you know better than anyone that Le Havre has its limitations."

"At Leeds United, we're a youth-oriented team. I'm sure you've done your homework. We've invested heavily in player development. Our youth system is among the best in the world, staffed by coaches from Barcelona and Real Madrid."

"We've spent millions creating a specialized development system tailored for players like you. You've seen Courtois grow significantly during his year with us. Pogba came from Le Havre as well. He couldn't get game time at Manchester United, but he developed into a completely different player with us."

"Paulinho, Benteke, Schneiderlin…"

Borrell spread his hands and said confidently, "I dare say, across Europe, no one trains young players better than we do."

Mahrez nodded slightly.

"Of course, Mr. Borrell," agent Carmel Bengogam said with a smile.

"Everyone knows Mr. Borrell is the best technical coach and that Mr. Gao is the top manager in world football. Leeds United has invested massively in youth development this past year and produced several elite players. We don't doubt Leeds United's strength in youth training."

That was the benefit of Leeds United's summer sales.

Their reputation had been cemented.

For professional players, football is a job. And like any job, everyone wants to climb higher.

Leeds United was the perfect launchpad.

"Not to mention, just two days ago, you signed Lyon's youth player Martial from Clairefontaine for €2 million. That kind of boldness is rare among clubs."

"After Mr. Gao Shen took over Leeds United, he ramped up scouting and youth investment. France is one of our key areas, especially Clairefontaine. We all know it produces the best talent in the country."

Borrell smiled as he explained, "We tracked Martial for over six months. It took great effort to convince both Lyon and the player. We also just signed your teammate from Le Havre, Benjamin Mendy."

"When did that happen?" Mahrez asked, surprised.

He hadn't heard anything.

"Just yesterday. I landed in Paris today," Borrell said, smiling.

He had flown in via Le Havre.

Both Mendy and Martial were the results of Borrell's leadership of Leeds United's technical team.

There were other signings as well, all aimed at enhancing the club's youth setup.

It was said that after their promotion to the Premier League, Leeds United's youth investment this season would exceed £10 million. The goal was to establish a global youth development brand and attract the best young players from the UK, Europe, and beyond.

"I wouldn't be meeting you if we hadn't already reached an agreement with Le Havre on the transfer. Now it's up to you, Riyad," Borrell said to Mahrez.

Gao Shen had originally wanted Mahrez, and Borrell secured Mendy at the same time.

Mendy was a strong prospect, having risen through the French national youth teams with consistently solid performances.

The key point: Le Havre's players were cheap.

Mendy cost €800,000. Mahrez, just €400,000. Together, only €1.2 million. That was tremendous value.

But since Leeds United already had two left-backs—Kurzawa and Bertrand—Mendy was expected to stay on loan at Le Havre. If he performed well, Leeds would pay a bonus to Le Havre as training compensation.

This was also a new model Leeds United was exploring for youth development.

As for Martial, the €2 million Lyon youth player, Borrell planned to oversee his training personally.

…

The meal lasted more than two hours, but Mahrez didn't commit to Leeds United on the spot.

However, judging by his expression and his attitude toward Borrell afterward, it was likely he would accept.

He was clearly a mature young man.

That was rare. Players like that were less likely to stray and easier to coach.

After sending off Mahrez and his agent, Borrell received a call from scouting director Steve Walsh, saying Kanté's transfer was complete and that Borrell should stop by the next day.

"No need to wait. I'll head there now," Borrell replied. He was also eager to meet the midfielder picked by Coach Gao.

Gao Shen hadn't said much, but players handpicked by him were never ordinary.

Outside, the media had been worrying about Leeds United's player departures and lack of incoming transfers. But in truth, there was no need for concern. Leeds had been steadily executing their plan, though few were aware.

For example, signing Mendy for €800,000 and immediately loaning him back to Le Havre was done quietly. Kanté was a free transfer. Mahrez only cost €400,000. These moves barely registered.

Martial, at €2 million, was the most expensive. But he was only 16 and seen as one for the future.

Leeds United had also signed 16-year-old midfielder Dele Alli from League One side Milton Keynes Dons, a club formed after Wimbledon's collapse.

The transfer cost Leeds £200,000.

Incidentally, this was the club's first youth signing under the FA's new Elite Player Performance Plan (EPPP). Compensation was calculated based on the number of years Alli had spent with MK Dons.

Leeds even added a bit more to make the total £200,000.

They had also signed right-back Fabinho from Fluminense's youth team for €300,000 and young center-back Marquinhos from Corinthians for €700,000.

Marquinhos held dual citizenship—Portuguese and Brazilian.

Still, these deals hadn't drawn much attention.

By contrast, the transfer of Inter Milan winger Coutinho, whom Gao Shen had personally been pushing for, had run into complications.

The issue remained unresolved by the time Gao Shen returned from his trip to Northern Europe.

(To be continued.)

Chapter 874: Little Secrets in the Transfer Market

Gao Shen had once seen a question in his previous life: What would you do if you had a billion?

The answers varied, but they were mostly jokes.

Some said they would deposit it in the bank, earn interest, and spend their time playing video games, enjoying life as a "pay-to-win" player. Others said they'd use their iPhones to crack walnuts every day. Some joked about using the interest to buy a house and get married...

Clearly, these people didn't really have a billion. They were just talking nonsense.

But the problem Gao Shen now faced was very real.

He actually had a billion.

Adam Lallana was sold for £25 million, Schneiderlin for £20 million, Paulinho for £20 million, Benteke also for £20 million, Clyne for £15 million, Courtois for £20 million, and Bolasie for £10 million.

In total, Leeds United earned £130 million in this summer's transfer window.

Compared to the €200–300 million that clubs like Atlético Madrid, Ajax, and Monaco would rake in over the coming years, Leeds United's earnings weren't that astonishing. The key was whether they could maintain consistent output.

Clubs like Monaco, Ajax, and Porto could sell players for €100–200 million each year, which was genuinely impressive.

By comparison, Leeds United was just getting started.

However, Gao Shen now faced a dilemma.

How should this money be spent?

He couldn't just throw it in the bank to earn interest or buy a new phone every day to crack walnuts, right?

…

"To be honest, this is the first time I've ever handled this much money," Gao Shen said with a wry smile in the conference room at Elland Road, addressing the club's core senior management.

The others smiled and nodded.

In fact, they had been waiting for Gao Shen to make a decision.

No one had expected these players to sell for so much money.

Just a year ago, Gao Shen had bought Leeds United for less than £50 million. Now, they'd generated £130 million in sales over one summer. If someone else said that out loud, who would believe them?

Of course, the money hadn't all arrived yet.

Real Madrid paid cash, which Gao Shen hadn't expected.

According to Lucas, they didn't even try to negotiate.

Leeds United had originally intended to raise the asking price, expecting Real Madrid to haggle, but surprisingly, they agreed outright.

Reportedly, it was Florentino who made the final call.

The price was a big premium for Courtois, but overall it was still a great deal.

The players Leeds United sold this summer all had one thing in common: they were young.

Youth was their greatest asset, and their wages were relatively low.

In other words, after these players were acquired, the wage burden on their new clubs wasn't significant—smaller even than some existing squad members—so those clubs were more willing to pay a premium transfer fee.

Another key factor: installments.

Most transfers were paid over one to two years.

For example, Adam Lallana, Benteke, and Clyne were all paid in five installments over two years.

So even though Liverpool claimed they spent £60 million on the three players, they had only paid £12 million as a down payment.

So, are these big clubs really so free-spending?

This was one of the transfer market's little secrets, but for Leeds United, it wasn't a big issue.

If the club really needed cash, they could take those Liverpool contracts to a bank and get loans at very low interest rates.

That's why modern club operations are more about financial strategy and capital management.

By comparison, Leeds United still had to operate within its means.

…

Gao Shen wasn't the type of owner who had never seen serious money.

In fact, apart from spending his own funds to buy Leeds United, he hadn't really invested much personal capital into the club.

Partly due to strict wage control, and partly because of last season's player sales.

This had also been a requirement from Su Qing and Lucas.

Public funds and personal funds had to remain clearly separated.

If Gao Shen kept pouring in money recklessly, how would that be any different from rich owners like Abramovich?

To put it bluntly, professional football is a bottomless pit. Throwing money in endlessly is a thankless endeavor.

This season, Leeds United had been promoted to the Premier League, so wage increases and contract renewals were inevitable. Add to that the ticket refunds promised last year. According to calculations by Su Qing, Lucas, and the finance department, the cost would exceed £3 million.

The main reason was that the largest number of low-priced tickets had a refund rate of just 30%.

For Leeds United, the £3 million figure was manageable. In fact, it wasn't an actual cash payout but more of a discount on ticket renewals.

In other words, more than £3 million would be offset from the club's season ticket revenue.

The largest investment this summer, however, was in youth development.

A comprehensive youth training system was being established from scratch. Leeds United was recruiting heavily from surrounding areas, and this required significant spending. There were also staff, coaches, venues, facilities—none of it came cheap.

In total, £10 million wasn't even enough.

That didn't include the second phase of the Big Data Center project, continued investment in the methodology department, and further upgrades to the Thorp Arch training base—all major expenditures.

In the end, if the £130 million in transfer income wasn't counted, Leeds United would barely break even in the Premier League, because of the substantial investments in infrastructure and personnel.

In other words, what the club truly had available was the £130 million in transfer income. But even that wasn't fully in hand—only about £40 million had actually been received.

The rest would come over the next one to two years.

But Su Qing and Lucas both believed that after promotion, Leeds United would expand its sponsorship and revenue channels. They expected the club's participation in the Premier League to significantly boost commercial income, especially in shirt sponsorship.

The new kit sponsor for the coming season was Adidas, under a five-year deal worth £6 million per year.

That was already quite good, especially considering Leeds United's historic brand and fan base. Including jersey sale commissions, the deal was solid.

Of course, it still couldn't compare to the tens of millions earned by the elite clubs.

That was just reality—Leeds was a newly promoted side.

However, Leeds United had negotiated a very favorable jersey revenue split—40%.

That was the highest in the Premier League. Even many top clubs only had 20%, and some as low as 10%.

The logic was clear. Big clubs earn high sponsorship fees but get lower revenue splits. Leeds United's sponsorship fee was modest, but its jersey sales were booming, so they negotiated a higher share. That was normal.

Now, with Adidas taking over as kit supplier, Leeds had launched its new kits. Due to materials and brand positioning, Adidas jerseys were more expensive. The fan version cost £55, and the player version £100. That was for short sleeves. Long sleeves cost more.

According to initial estimates, Leeds United could sell at least 150,000 jerseys. That would bring in more than £3 million from jersey sales alone.

A clear improvement over last season.

Historically, Leeds United kits had always sold well.

Few people knew that Leeds United was the first club in professional football to sell replica shirts. That was back in 1973, when a jersey cost just £5. Now, the price was ten times higher.

Among Premier League clubs, Leeds kits weren't expensive. For example, Manchester United's kits sold for £65.

Leeds had a long-standing tradition of fan engagement and reasonably priced jerseys. Even when in the lower leagues, their shirt sales consistently ranked in the top ten in England.

Now that they were back in the Premier League, they might set a new record.

But compared to clubs like Real Madrid, Manchester United, or Chelsea, who could easily sell one or two million units, Leeds United still had a long way to go.

For now, the goal was simply to survive in the Premier League and unlock that potential step by step.

…

With over £40 million in cash on hand and nearly £100 million due in the next two years, Leeds United needed to start planning how to use these funds.

They couldn't just park it in the bank and collect interest.

The team was cash-poor and needed money for everything.

There was already a consensus among club executives about the need to build a new training facility.

Thorp Arch had been renovated, but it was still outdated.

When Gao Shen had first taken over the club, he was already clear: a new stadium wasn't essential, but a new training center was.

As soon as he brought it up, everyone in the room turned to him, eyes filled with both anticipation and concern.

That was a lot of money.

Was Gao Shen really willing to spend it?

But if Leeds United wanted to establish itself long-term, a top-tier training center was a must.

Gao Shen understood what they were thinking. He turned to his wife and gave her a small nod.

Su Qing smiled brightly. "We've already discussed this. All of the surplus from this summer and next season will go toward building a new training base. Not just a training base, but also a dedicated stadium for the youth teams."

At present, Leeds United only had two youth squads, and all matches were played at Thorp Arch. In the future, each age group would need its own team. There would be a serious shortage of training and match venues. Right now, they could barely squeeze two or three age groups into the facilities.

After hearing this, Lucas and the others were visibly excited. Their eyes were full of admiration as they looked at Gao Shen.

Spending over £100 million without hesitation.

Of course, according to Su Qing's plan, the new training complex would be owned by a private company under Gao Shen and Su Qing. Leeds United would lease it. Financial mechanisms would be used to recover the construction costs through the club.

Essentially, this was a disguised withdrawal of funds from the club.

But no one would care.

Whether fans or management, what mattered most was seeing a world-class training center exclusively for Leeds United. Who owned it didn't matter.

And besides, the entire club operated with transparency.

"This time, we plan to invite Norman Foster to design it," Gao Shen announced with a smile.

(To be continued.)