In Gao Shen's previous life, many Chinese companies acquired European football clubs, but most of them ended in embarrassing failure and huge financial losses.
As a football fan, Gao Shen's first reaction was: these rich guys are just cash cows—loaded, but clueless.
There was nothing wrong with that assessment, but it raised a deeper question: how were they being taken advantage of?
How were the fat sheep getting fleeced?
Each of these wealthy investors was savvy in business and a master of financial maneuvering, so why did they fall into these traps?
It's not like they became stupid the moment they stepped outside of China.
Nor could it be that they threw around tens of millions without doing their homework.
As for asset transfers and shady dealings, Gao Shen didn't dare say they never happened, but at least on the surface, many of these investors genuinely suffered huge losses.
Take West Bromwich Albion, for example.
Before the Chinese acquisition, the Premier League club had been profitable for three consecutive seasons and had a stable league position. There were no signs of relegation. Judging by the purchase price, it looked like a quality investment by any standard.
But not long after the Chinese consortium took over, West Brom were relegated.
A large sum of money had been invested, yet the club went down. It made no sense.
The problem was in the management.
According to later reports, after acquiring the club, the Chinese investors fully handed over decision-making to professional executives, following the principle of letting professionals do professional work. But this led to a power struggle within the board. The executives dismissed the club's long-serving manager, which destabilized the team.
Then came a rushed managerial appointment that failed to produce results, ultimately causing relegation.
One criticism often heard is: amateurs leading professionals.
But in this case, even the so-called professionals failed to deliver.
The truth is, every situation must be analyzed individually. Context and specifics matter.
…
Aside from West Brom, there was another Chinese-owned club worth mentioning: Southampton.
This was a more sophisticated example of capital operation.
Before and after the Chinese acquisition, Southampton followed two very different strategies.
Before the takeover, the Saints had a buy-low, sell-high approach. They clearly understood their position in the league, and the entire management structure worked in sync with this identity. The team performed well, players were developed and sold at peak value. They didn't hesitate to cash in.
Once a player fetched a good price, they'd be sold. Then the club would reinvest in other high-quality but low-cost players.
This model worked smoothly for years before the Chinese took over.
Everyone noticed the pattern. Whether it was the team's core, top scorer, or main playmaker—if they had value, they were sold. Even head coaches were replaced when needed. From Pochettino to Ronald Koeman, the club made bold moves, yet performance remained stable or even improved.
But after the Chinese acquisition, things changed dramatically. The team plummeted from mid-table stability to relegation battles.
If you look closely, you'll see that for several years after the takeover, the Saints stopped selling players.
They just spent money.
This was a fundamental shift in business strategy.
No one knows the full reasoning behind it, but the dramatic change after the Chinese consortium took over clearly wasn't a coincidence. It reflected a failure in operations and in how the club's leadership positioned it within the league.
The takeaway is clear: whether the capital is Chinese or foreign, whenever someone acquires a European club, one issue is inevitable—positioning.
The professional football league system is like a pyramid. Every club must know where it stands.
Operate according to your level. That's what professionalism means.
Once you've found your place, you need to build a management system that runs smoothly.
The team is just the face of the operation. What drives true competitiveness is not just the eleven players on the pitch, but the entire structure behind them.
Only when this machine functions efficiently can the club succeed on the pitch.
Just like pre-acquisition Southampton—despite selling stars and changing coaches, they kept moving forward.
Why?
Because their system worked.
Sell a player? No problem. The scouts had already lined up a quality, affordable replacement.
Change the manager? No problem. The technical director had already sourced the right candidate to step in.
In the league, they stayed pragmatic, aware of their limits and realistic in approach. Against weaker teams, they played attacking football. Against stronger ones, they stayed compact and countered. There was no shame in that.
This may sound like common sense, but in reality, this kind of self-awareness and positioning is extremely rare—whether in individuals, organizations, or companies.
Look across Europe. How many clubs truly understand this?
Even a giant like Juventus, after a few difficult years, couldn't resist trying to be too ambitious—and ended up losing everything they had built.
…
Since deciding to acquire Leeds United, Gao Shen had been discussing it regularly with Su Qing.
As a top graduate from an elite university, Su Qing was undoubtedly a genius. She had deep insight, picked up concepts quickly, and could extrapolate from one detail to grasp the whole picture.
Through their conversations, the positioning of Leeds United became crystal clear.
Relegation survival.
Staying in the Premier League. And from that foundation, helping players perform and increase in value—then selling them at the right price.
"Sarri has been with me for three years. I know his coaching style and ability very well. I'll build a team around him, help him get promoted to the Premier League, and raise the market value of our players. Then we can reinvest in the training base, stadium upgrades, and our youth system."
Gao Shen only shared thoughts like this when alone with Su Qing.
Because they were brutally realistic.
This is professional football.
Just like when Wenger sold Anelka, and the money was used to buy Henry and build the Colney training ground.
Whether you're managing a club or running a company, you need warmth and care—but you also need financial pragmatism.
"Are you sure this will work?" Su Qing didn't doubt Gao Shen's ability.
If Gao Shen were the coach himself, she'd be fully confident. But building a team around Sarri—was that truly realistic?
"Don't worry. This isn't a difficult task for me," Gao Shen said confidently.
Seeing his unwavering confidence, Su Qing nodded. "Alright. I'll start pushing Ken Bates harder. I have a feeling that old man is getting desperate to sell."
"You told me before that he's well-connected and resourceful. Let him use those connections. Maybe he can bring us some benefits. At the very least, we should try to drive down the price."
If Leeds United is managed well, it can bring enormous benefits to the city and the surrounding region.
It's not just a cultural icon. It creates real jobs and economic growth.
Such cases always require strong government backing—whether in China or Europe.
Su Qing understood this better than anyone. That's why Gao Shen was comfortable letting her handle it.
…
During the international break in late March, the Champions League quarterfinal draw was announced.
Manchester City drew Bayern Munich of the Bundesliga.
Interestingly, Bayern were having a poor domestic season, sitting fourth in the league—twelve points behind leaders Dortmund. Although Van Gaal had taken them to the quarterfinals, his job remained under threat.
There were even reports that if Bayern were eliminated from the Champions League, Van Gaal would be sacked.
Coincidentally, both Jürgen Klopp of Dortmund and Thomas Tuchel of Mainz—who were currently competing for top-four spots in the Bundesliga—had close ties to Gao Shen.
Both had traveled to Italy specifically to attend Gao Shen's advanced coaching lectures.
This only added to Gao Shen's rising fame in European football.
Almost everyone now agreed: Gao Shen, along with Guardiola, Klopp, Tuchel, and others, formed the leading group of young coaches shaping the future of European football.
This was also why Gao Shen was happy Sarri had chosen to stay.
With Gao Shen's reputation, it wouldn't have been difficult for Sarri to find another job. Gao Shen could have easily recommended him to a Serie A club.
But Sarri chose to stay. Most likely, he wanted to challenge himself.
More importantly, Gao Shen had promised to build a squad tailored to him. That was what truly attracted him.
The whole football world knew one thing—Gao Shen's eye for talent was spot-on.
In the other quarterfinal ties: Napoli faced Schalke 04, Manchester United faced Chelsea, and Barcelona drew Shakhtar Donetsk.
Interestingly, Allegri was considered half a disciple of Gao Shen. Not only was his football philosophy shaped by Gao Shen, but the Napoli lineup he inherited had Gao Shen's fingerprints all over it. Now, Allegri had taken that team into the Champions League quarterfinals.
Today, Gao Shen's disciples were spread across Europe's top leagues. In the future, more and more coaches who embraced Gao Shen's football philosophy would emerge, further solidifying his influence across European and global football.
…
During the international break, Leeds United officially announced that they had signed an exclusivity agreement with a foreign buyer and had hired the UK's largest law firm, Clifford Chance, to conduct due diligence.
Once this news broke, it caused an immediate stir in European football.
Leeds United had been in decline for years. Even after returning to the Championship, the club had shown little sign of revival.
Now, the tide had seemingly turned, and the club was on the verge of a foreign takeover.
Some media even claimed the buyers were the Qatari consortium that had previously failed to acquire Manchester United.
For a time, media and fans worldwide flooded the headlines with this story, speculating that Leeds United could become the next footballing powerhouse.
Reading those reports, Gao Shen, Su Qing, and the others behind the scenes couldn't help but laugh.
How on earth did they look like nouveau riche?
(To be continued.)