Rivals and new stadiums
As Levi navigated the landscape of investment opportunities, he found himself at a crossroads when considering companies like Microsoft, Amazon, and Cisco. Despite their promising potential, Levi made a conscious decision not to invest in these tech giants for two significant reasons.
Firstly, Levi recognized that he didn't have sufficient funds to invest in all of these companies simultaneously. While each presented compelling prospects, spreading his resources too thin across multiple investments seemed impractical and risky.
Secondly, Levi was wary of the dot-com bubble that was inflating rapidly in the late 1990s. He observed how companies like Amazon experienced meteoric rises in their market capitalization, only to suffer drastic declines when the bubble inevitably burst in 2001.
Before the dot-com bubble burst, Amazon's market capitalization soared to approximately $30 billion, reflecting investors' exuberance and optimism about the company's future. However, when the crash occurred, Amazon, like many other tech firms, endured a severe devaluation. By the end of 2001, Amazon's market capitalization plummeted to around $5 billion, highlighting the volatile nature of the market during that period.
Despite the allure of investing in these high-profile tech companies, Levi remained cautious, prioritizing prudent financial management over potential short-term gains. He understood the importance of mitigating risks and preserving capital, especially in the face of market uncertainties like the dot-com bubble.
But Apple is different case.
Before the dot-com bubble burst in 2001, Apple's market capitalization experienced fluctuations, but it was not as severely impacted as some other tech companies.
In 2000, Apple's market capitalization was around $8 billion. After the dot-com bubble burst, Apple's market capitalization dipped but gradually recovered. By the end of 2001, Apple's market capitalization was still around $7 billion.
To convert 30 million pounds to dollars in 1998, we would need to know the exchange rate for that specific period. Exchange rates fluctuate, so without a specific rate for 1998, it's challenging to provide an exact conversion. However, as a reference, the average exchange rate for 1998 was around 1.65 USD per GBP. Using this rate, 30 million pounds would be approximately 49.5 million dollars.
Apologies for the oversight. Here's the missing part of the story:
Levi spent almost two weeks at John David's house in New York, during which time he primarily focused on reminiscing about his past experiences.
Levi had read numerous internet novels about rebirth, many of which depicted making money through stock trading, particularly during the Asian financial crisis of 1997-98. His memory of these speculative data was profound, allowing him to direct John David based on these recollections. However, he avoided using the Hang Seng Index or Japan's Nikkei, finding them unpleasant.
In just two weeks, there were wins and losses, with most of the wins going to Levi. Betting more on what he remembered clearly resulted in more profits, even though he also experienced significant losses. However, because he bet less overall, he ended up with a substantial profit.
By the time Levi was ready to leave New York, the money in his bank account had exceeded $100 million. This included deducting the $20 million Levi had invested in Apple and the additional $10 million he added to Google.
Levi decided to use a portion of the $100 million to buy more shares in Apple, allocating about $20 million as backup funds for investing in Google. He remembered that Google would need to recruit venture capital again in the near future due to its rapid development.
The rest of the money, except for the $20 million Levi took with him, was entrusted to John David to continue stock trading.
Although Levi returned to Manchester, he made arrangements for John to begin attacking the Russian ruble before September 2, ensuring there would be no issues.
Despite becoming a billionaire, Levi didn't spend much money. He still had Jim pick him up.
Upon arriving at Newton Heath's office, Levi received exciting news.
"What are you talking about? Walsh, say it again!" Levi was so surprised he almost had a cannibalistic expression, startling Jim, who was with him.
Andy Walsh broke free from Levi's grasp and said, "Have you heard about the District Athletic Stadium?"
Levi nodded. "It's the athletic stadium near Bradford on Aston New Road, right? You have to pass it every time you go from the city to the Butcher's Knife Stadium."
"Yes, do you know why it's been deserted for so long?" Walsh asked.
Levi shook his head.
Walsh smiled knowingly and said, "In 1993, the Manchester City Government planned to rebuild the district sports stadium for the 2000 Olympics. However, the plan was shelved after Sydney won the bid. Later, in 1996, they planned to compete with London's Wembley Stadium to become England's national stadium, but that also failed."
Levi was surprised by this revelation. He had seen Wembley Stadium in photos before and knew it was magnificent.
"But recently, there's been another development!" Walsh said, pretending to be mysterious.
Levi scolded him with a smile and asked him to speak directly.
"I heard that the Manchester government is considering selling the site of this stadium." Walsh glanced at Levi with a hint of suggestion.
"Meaning we could propose to the city government that we rent this stadium, make minor repairs, and use it as our home?" Levi realized.
"Yes, but many real estate developers have also shown interest in the land's potential value. If the stadium is turned into a residential community, it could be very profitable."
Excited, Levi clapped his hands. "Jim, let's go see it!"
After just a short drive from Newton Heath, they arrived at the District Athletic Stadium on Ashton Road.
"It's a decent size," Levi remarked upon seeing the stadium. It was small and old compared to the grandeur of Old Trafford.
"It's large, but buying it would cost a lot. Even though it's not in the city center, it'll still be expensive, especially if we promise to use it as the club's home instead of for commercial development," Walsh said.
Levi's mind was elsewhere. He recalled how Real Madrid had paid off the club's debt by selling its training sports city in 2001. The high price was due to the location in the center of Madrid and the rise in real estate prices caused by the euro's implementation. He believed the same could happen here, making it a worthwhile investment.
"Levi, what are you thinking?" Walsh snapped Levi out of his thoughts.
Levi smiled. "I was thinking, Andy, that we should buy this land!"
"No, no," Walsh was surprised. "I'm talking about renting, not buying. We don't have that much money!"
"Yes, Andy, I'll transfer the money to the club now, and you can negotiate with the Manchester City Council. We must secure this stadium. Oh, and the surrounding land too. Once we become giants in the future, all the surrounding land will be valuable."
Levi realized he couldn't reveal his wealth too much, so he suggested paying in installments, making it seem more manageable financially.
Walsh understood and agreed to negotiate with the council. Levi was confident that acquiring the land surrounding the stadium would be a wise investment, as it would only increase in value with Manchester United's success.
Levi's mind raced with possibilities. He even entertained the thought of Manchester City moving out of the Manchester area, turning the Manchester Derby into New Manchester United versus Manchester United. Levi saw Manchester City as his enemy and relished the idea of competing against them.
No matter the outcome, Levi was determined to secure the District Athletic Stadium for New Manchester United, setting the stage for their future success.
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