God of Corporate Hunting - Chapter 248



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◈ Episode 248 Major League (2)

Even after returning to the hotel, Nam Yun-myeong continued to worry.

Now we need to bring in Assur from Abu Dhabi.

However, there is a headache. I heard that there was a marriage proposal issue when Yoon Se-bin visited Ashur due to the Swiss Credit incident. I couldn’t ask about the details because it was a private matter.

If you couldn’t resolve it amicably and ended up with an unpleasant relationship, contacting Ashur will have the opposite effect.

I don’t think there will be any major issues since they received investment from Credit Suisse, but I don’t know the details.

“Wouldn’t it be better if Yoon Se-bin called?”

If Assur comes here and takes the VF-3, they can sell the VF-3 to the UAE and build a transportation network. In any case, there is nothing to lose by making Saudi Arabia and the UAE compete.

But I can’t call Yoon Se-bin and ask about what happened then…

Nam Woon-myung, who had been worrying, chose to tackle it head-on.

After several steps, a call was established with Ashur.

[Nam Woon Myung? I remember. We met when I went to Korea.]

Fortunately, I remembered him. Well, it’s only natural, considering the Credit Suisse investment that happened not long ago.

“Are there any plans to build a future UAM in Abu Dhabi?”

Nam Yun-myeong began to give a detailed explanation about eVTOL.

Fortunately, Ashur also had considerable knowledge of the subject. He even knew about Vectorfly.

[I wanted to invest anyway. Connecting Abu Dhabi, Dubai, and the airport.]

“Invest in mass production of eVTOLs and consider introducing them to Abu Dhabi.”

[I would like to do that, but… … .]

The answer was somehow lukewarm.

Of course, Nam Woon-myeong also knows the reason. Whether it’s Saudi Arabia or the UAE, they have been quite active in investing around the world through their sovereign wealth funds. But most of the investments to attract new industries have been just a simple money splurge.

It had no connection at all with the development of domestic industry, and technology transfer was also remote. It was a dog that only did good things for others.

“If Korea’s industrial technology and Abu Dhabi’s capital are combined, it will be different. You can see the synergy effect without me having to explain it. This business is an investment in the future. It’s both aircraft production and vertiport construction.”

[We reviewed it once before. However, due to various insufficient conditions… … .]

“By the way, in Saudi Arabia, they say that he comes and decides in person.”

The conversation was interrupted.

You probably don’t know who Ashur is.

After a long time, the question came again.

[When are you going there?]

“Next major. Couldn’t it be the second?”

Nam Woon-myung’s strategy ended here. If you put the two together, there will be competition.

After hanging up the phone, Nam Yunming drew the overall picture again.

eVTOL development and mass production, and the construction of related infrastructure, vertiports. All are large-scale projects and not easy.

As we have done so far, we have thrown out bait that suits each person’s tendencies.

I haven’t thought about failure yet.

* * *

While waiting in Silicon Valley, Chairman Yong-Muk Choi came to the United States.

To acquire a major league team.

Since I was going to invest anyway, I advised that I should go for a big market team to make my dream come true, and I chose one of the two teams currently up for sale.

The LA Angels is a baseball team based in the large city of LA.

The LA Angels are an American League team with two top stars. The problem is that they have no other stars to boast about. Because they rely too much on these two, the team’s performance has not been very good. It has been almost twenty years since they last won the World Series, and recently, they have been far from winning the division.

The reason why this result was achieved despite the considerable investment made by the club in a large city is because there were an unusually high number of hit-and-run players among the major players who signed long-term contracts.

The reason Nam Woon-myung chose this team was because he was confident that he could solve this scam investment problem.

I visited the club owner’s office at Anaheim Stadium with Chairman Yong-Muk Choi.

Arto Morne, the owner of the team who is over 70 years old, is a Mexican-American who has shown talent in running a baseball team since he was young.

Despite his old age, he was passionate about baseball and I respected him.

Morne, who shook hands with the two people, talked about his connection to Korea.

“I fought in the Vietnam War when I was young… and that’s when I met the Korean army.”

If it was fate, then the signs were not bad. The conversation that started with various worldly matters moved on to professional baseball.

“Operating a baseball team has been a dream of mine for a long time. When I was young, I took over a minor league team and operated it, and when I got older, I bought a major league team. But things didn’t go as planned. The players I bought because they were good all started to falter. When players I invested 100 million or 200 million dollars in got sick and put down their bats, nothing worked out. These days, 100 million dollars isn’t a big investment, but back then, it was a huge investment that really made my back buckle….”

As expected, the story of the dine and dash came up right away.

“If you run into a hit and run, it’s hard to invest in other players. It affects the entire operation of the team. I invested and operated diligently, but I never won the World Series. That’s my regret. Now, I’m old….”

After meeting Morne, I realized that running a baseball team is not easy.

Sometimes, there is a tendency to think of running a professional sports team as a hobby for the richest people, but a team that does not generate proper profits or wins is a burden on the mind.

The burden was even greater for Morne, who was not one of the wealthiest people in the world.

Now, they say that they have been unable to overcome the passage of time and are putting the club up for sale.

“I also run a professional baseball team in Korea, so I know the difficulties well.”

Choi Yong-muk introduced himself diligently.

The American club owner and the Korean club owner. Of course, their environments and scales are different, but they seem to have something in common, so the meeting was cordial.

“So how much are you thinking about?”

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The conversation got to the point. He said he would sell it if the price was right.

The current LA Angels franchise is barely in the top 10 in major league value, with a market cap of around $2 billion.

“Two billion dollars.”

Choi Yong-muk proposed a price that had been negotiated with Nam Un-myeong in advance.

Morne’s complexion darkened slightly.

“You’re calling the price too cheap.”

Even though it is a major league team, it is not a particularly profitable business, so its value is in the middle of nowhere. Recently, as revenue from TV broadcasting has increased, its value has increased significantly, and it is widely distributed between 1 billion and 6 billion dollars.

Sometimes, the value of the players they own far exceeds the value of the club, so it is truly arbitrary.

Morne has expressed his intention to sell several times in the past, only to withdraw it. There were even doubts about whether he really intended to sell.

“How much do you think it is, sir?”

“I have 3 billion dollars.”

The price gap between the two sides has widened significantly.

Choi Yong-muk looked back at Nam Un-myeong with an embarrassed expression.

Nam Woon-myung had expected this much. However, $3 billion is ridiculous. Of course, the other party will also criticize the $2 billion that we have proposed as an absurd amount.

“The current state of the club requires continued investment going forward. $2 billion is a lot.”

“I don’t think so.”

“For the future of the team, it would be best to sell it to someone with experience in running a baseball team. I am the perfect person for the job.”

“That’s your opinion.”

Morne flatly rejected Choi Yong-mook’s offer and explained in detail why it was valuable.

Of course, there was nothing special about it. The main reason was the value of the two superstars the club had and their ticket power.

The negotiations were not going well and were going on at a parallel track.

Finally, Morne said.

“If you’re willing to pay $3 billion, come back.”

The evacuation order has been issued.

On the way back, I formulated a strategy again with Choi Yong-muk.

“How about I offer you $2.5 billion?”

For reference, Choi Yong-mook will personally shoulder all of the club acquisition funds. It is a considerable investment for Choi Yong-mook, as it is over 2 trillion won and approaching 3 trillion won. In particular, it is a business that will be difficult to make a profit in the future, so it is not easy to jump into it with just a little determination.

This is a proposal that shows how sincere Yong-Muk Choi is in running the baseball team.

Mega Asset Management also has difficulty investing in professional sports teams that do not generate profits every year. This is because LPs who invested are anxious and it is difficult to recover in the near future.

That is why, first of all, we must acquire it unconditionally at a cheap price.

“Just wait a moment. They will contact you again within a few days.”

“It doesn’t look easy…….”

Choi Yong-muk nodded his head, but accepted the strategy obediently. He believed in Nam Woon-myung’s investment skills that he had accumulated in various places.

* * *

After relaying the progress of the Vectorfly investment to Park Won-tae and Yoon Se-bin, Nam Woon-myeong received a call from Seon Yoon-ah at the New York branch.

[Mr. Destiny, if you come to America, you should contact me.]

“I’m a westerner and I’ve been busy so I haven’t had time.”

[CEO Yoon is also actively supporting the mass production of the Vectorfly VF-3. He said he will provide maximum support from this side.]

As new technologies are finally entering mass production, the related industries are rapidly expanding. If the IPO is successful, profits of several dozen times can be made.

So, at this stage, additional investment from CSK, Saudi PIF and Abu Dhabi Investment Authority is of great significance.

I also understand Yoon Se-bin’s desire to step forward actively. It is an opportunity to establish a proper position in CSK. Of course, Nam Woon-myung also intends to actively help.

“So, I’m currently waiting for investment from the Arab side and looking into acquiring a major club.”

[Professional baseball team?]

Nam Woon-myeong conveyed Chairman Choi Yong-muk’s love for baseball.

Seon Yoon-ah, who had been quiet for a while, made an unexpected suggestion.

[Director Nam, there is a startup that recently received an investment request… … It’s a sports-related company. Would you like to take a look?]

“Where is it?”

[It’s called Spotechnics… It’s a venture that combines science and technology with sports. Since they’re taking over a baseball team, I wonder if it might be helpful?]

It has already been thirty years since science and technology were fully incorporated into sports. Compared to the past, sports have systematically changed in all aspects and have become more efficient. Those who quickly accept the ongoing science and technology will inevitably be superior.

Although this is the general trend, it is not easy to achieve great results from an unknown venture, and it is also difficult to expect the introduction of conservative sports teams.

“Thank you, but…….”

[Let’s review it together. I’ll go there tomorrow. You said it’s in LA, right? The venture is in Pasadena, northeast of LA.]

“Is this a venture founded by a California Institute of Technology graduate?”

[Yes, that’s right. The CEO strongly requested that I visit. He said that he would definitely invest if I visited. I haven’t had time to visit in a while… … Since you’re here, Unmyeong-ssi, let’s go together. It looked surprisingly good.]

“The schedule…….”

[See you tomorrow then.]

Seon Yoon-ah hung up the phone without giving me a chance to say anything.

It seemed like he had other motives, but I left it alone because I thought he might find a decent venture. If it caught Seon Yoon-ah’s eye, it couldn’t be a bad venture.

When I went to Europe, Sunyoon asked me to go on a one-day date with Dan Kirk, using him as an excuse. I felt burdened by the promise, but since she is a capable woman, I had to persuade her and go with her.

But since it would be awkward for the two to meet, I plan to take Chairman Choi Yong-muk with me.

The person who runs the baseball team is likely to have a much better eye for detail.

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