บท 420: The £60 Million Shock
The summer transfer window had opened, and Millwall was, as always, astonishingly calm in their recruitment efforts. Fans had grown accustomed to it, as had the media.
At this point, hardly anyone expects Millwall to sign heavyweight stars this summer. The past few years have demonstrated that many big clubs have struggled with their marquee signings. Millwall's actions in the transfer market reflect a commitment to developing players from their own youth system.
Aldrich also considered bringing in some players who could make an immediate impact on the pitch, but after searching the transfer market, his hopes were always dashed. He didn't like older players because they were expensive, and young talents were often the rising stars of other clubs, so no club was willing to sell them easily. Even if he was willing to spend a lot of money, the young stars he was looking at might not necessarily have a positive impact on Millwall.
Some stars felt wrong for the club. Take Owen, the genius striker: if Millwall were to spend big on him, what would be the point of letting go of Van Nistelrooy? Other players felt like a ticking time bomb. Anelka frequently stirred rumors of leaving, and Aldrich had no desire to pay for such trouble.
Aldrich wasn't inclined to chase after hopeful stars like Kanu, who had struggled to find a home at other major clubs. Winning the bidding would be a secondary concern; he might end up with a player who would act overly confident and self-important.
In the end, Aldrich realized the underlying issue was not a lack of suitable players, but rather that the players he wanted had already been nurtured in the youth squad. Those who weren't available were marked as untouchable by other clubs.
After Manchester United reached the pinnacle of the Champions League, legendary goalkeeper Schmeichel left Old Trafford for Portugal. Ferguson signed Bosnich as his replacement and also brought in French star Silvestre, along with the transfer of Van Nistelrooy, costing United around £20 million.
Arsenal spent heavily that summer, acquiring Pennant, Kanu, Diawara, Luzhny, Mals, Sylvinho, and Suker, totaling nearly £20 million to bolster their squad.
Tottenham's attitude seemed lazy, purchasing various 'scraps' from mid- to lower-tier teams for a total of £10 million, just enough to appease their fans.
Chelsea's "superstar policy" continues to thrive, with the over-30 Deschamps arriving at Stamford Bridge alongside Sutton, who once achieved great success alongside Shearer, now donning the blue jersey. With the likes of Melchiot, Ambrosetti, and Tome joining as well, Bates has written yet another check for £20 million. It's uncertain just how deep Chelsea's financial deficit has become.
After years of decline, Liverpool took a hard look at their situation this summer. Houllier began to clean house, getting rid of some underperforming players, while the club provided a substantial financial budget. With acquisitions like Heskey, Hamann, Smicer, Westerveld, Henchoz, and Kamara, Liverpool spent over £35 million! Their net investment exceeded £20 million.
While other clubs were making waves in the transfer market, Millwall seemed to be going unnoticed.
However, in mid-July, both Millwall and Leeds United officially announced a shocking transfer news that rattled English football.
"£60 million! Ten players from Millwall transferred to Leeds United!"
Many fans of The Lions were astounded when they heard this, instantly feeling their nostrils flare in disbelief.
£60 million! What could that buy in beef?
Ten players are leaving? They might as well rename Millwall to Leeds United!
Yet if fans take a deep breath and reconsider, they might find that their reactions were over the top.
After the long period of difficult financial conditions in League One, fans were left with the impression that £60m could easily buy one or even three Millwall teams.
However, the reality is now very different. £60m? In the current squad, that money is worth only three or four starters at best.
As fans took a closer look at the confirmed transactions, especially the ten players who were departing, they noted that only three were familiar to most fans: Ferdinand, Duff, and Mills.
As for the youth and reserve players, many were unfamiliar since they didn't usually attend those matches, leading to a sense of estrangement.
After getting the full details, fans sighed in relief. No first-team player had left; only substitutes were gone, and raising £60 million would benefit the club in the long run.
While some highly regarded young players chose to stay, like Joe Cole and Villa, others, such as Miguel, who often seemed like mere supporting characters, were completely overlooked by fans. On the pitch, comparisons can be brutal—players like Poulsen, Dunn, and Vassell could be seen as future stars if they were in the youth squads of other Premier League teams. But within the walls of Millwall's academy, they struggle to stand out; after all, there are plenty of others who shine brighter than them.
This transfer news didn't just make waves in England; the entire European football scene was focused on it.
People were curious: Leeds United had effectively bought a combination of Millwall's reserve teams. Would this transfer strategy prove effective?
Millwall's youth training was renowned, but would these half-finished products be able to be polished into gems?
If Leeds could achieve groundbreaking success through this summer of dramatic signings, other clubs would surely follow suit.
This stirred a heated discussion on Fleet Street.
Some industry insiders considered it a gamble for Leeds United! Spending £60 million on transfers was outrageous; did they even make that much in net income in a year?
Two years ago, the highest-earning club in Europe was Manchester United, raking in just over £50 million. If expenditures were accounted for, they barely netted a million in profit at the end of the year.
Millwall had made profits each year, but their income and expenditures were balanced. The money came from selling players in the market, but their future looked promising; even if their matchday income didn't rank them among the Premier League's top ten, once they moved to a new stadium, it was reasonable to expect their income to be among the top five in Europe.
Chelsea's debt problem had started to surface, and now Leeds was imitating their big-bucks borrowing strategy. Many were skeptical about Leeds' prospects; some even predicted Leeds and Chelsea might face bankruptcy together within four years.
Not only was the £60 million transfer fee troubling, but their suddenly inflated wage expenditures posed similar concerns to Chelsea's troubles. To attract high-caliber players, they had to offer salaries above the normal market rate. Eventually, the club could sink into a situation of chronic deficits.
However, many insiders believed that Leeds' bold investment represented their ambition; Ridsdale and O'Leary were ready to make a serious run in the Premier League and European football!
Were they not targeting a spot in the next season's UEFA Cup?
Expanding the squad and deepening their bench was imperative.
Among the ten players, only three could challenge for a first-team spot; the others hadn't even made the bench at Millwall. If they could manage a substitute position at Leeds, it would mark a step up in their careers.
An investment of £60 million sounds incredible, but Leeds United cannot afford to keep spending like this every year. In a sense, they are borrowing money. If we assume that they only invest £5 million per season going forward, then looking back after four seasons, their average transfer spend per year is only £20 million.
Compared to Tottenham and Liverpool, who had spent around £10-15 million a season acquiring players of low caliber in recent years, The challenge that Leeds United confronts is straightforward: they must rapidly enhance their match results!
Any club making significant investments isn't just aiming to make a mark in the Premier League; they want to grab a slice of the Champions League pie.
This season, the Champions League has expanded to 32 teams, with more spots available for major leagues. The Premier League only has three teams participating this season, but thanks to the points earned by Manchester United and Millwall over the past three years in European competitions, the Premier League is sure to secure four Champions League spots next season. If Leeds United can improve from fifth place to fourth this season, they will have a chance to play alongside the big clubs next season and earn significant revenue.
Was Ridsdale foolish?
Did Liverpool lose their minds by investing more than £30 million this summer? Their chairman is even willing to sell off personal belongings to support the club. Is it just pure love for the team?
Did Bates not notice Chelsea's ballooning debts?
Arsenal was planning a new stadium yet still splurged about £20 million this summer to expand their squad.
All the heavyweights were pulling out their wallets to boost their strength, as everyone aimed to reap greater profits.
If Leeds United aspired to challenge the order of the Premier League heavyweights in two years, that would indeed be a pipe dream. But if they could break into the Champions League and not just be a participant, today's investments could be the foundation for a decade of glory.
Indeed, no one could guarantee that Leeds would perform beyond expectations. Still, if they wanted to succeed, Ridsdale needed to give O'Leary a better hand.
It is not uncommon to turn decay into magic in football, but the magic of turning stone into gold is now recognized by the media only for one coach, Aldrich Hall. However, if O'Reilly wants to make a breakthrough this season with last year's lineup, it is not that the outside world underestimates him, but that the Premier League has a certain law. If a team performs well in the previous season and does not make obvious progress in the next season, they will not necessarily return to the starting point, but the challenges they face are obvious. A team that was defeated in the first year will not be willing to be defeated by the same opponent again.
The white rose of Yorkshire seemed to blossom gloriously as O'Leary energetically called a press conference to welcome the new players, showcasing their new jerseys.
Ridsdale, glowing with excitement, eagerly spoke in interviews.
"Leeds United now has a strong player foundation and an excellent coach, coupled with our loyal fanbase. I firmly believe that in three years, Leeds United will become an unshakeable force in English football. We will bring trophies back to our fans and recreate the brilliance of Leeds United at the top of the league!"
Leeds United became the focus of attention this summer, and their transfer dealings with Millwall were destined to be written into the history books. Regardless of success or failure, this summer would be remembered for many years to come.
Many were eager to know Aldrich's thoughts on Ridsdale's statements.
Millwall had profited, Leeds United gained quality players, but did Millwall inadvertently create a formidable rival?
Aldrich had no time to pay attention to the rumors circulating in the media, and everyone who should have left the club had already left. The beginning of the summer was quite chaotic for Millwall, but with Ferdinand and a group of young players joining Leeds United in the end, Millwall is now back on track and has started its summer recruitment.
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