Magpie Posted February 27, 2013 Share Posted February 27, 2013 http://www.bbc.co.uk/news/business-21585456 Mike Ashley sells £100m stake in Sports Direct Mike Ashley has sold a 4% chunk of his stake in the retailer he founded, Sports Direct, for £100m. Mr Ashley, the owner of Newcastle United football club, sold 25 million shares. He has a 64% majority stake left in the company. The sale took traders by surprise and shares in the company fell 7% after news of the trade emerged. Sports Direct, which now has almost 400 UK outlets, has seen its shares rise more than 40% over the past year. The company also owns Lillywhites stores as well as brands including Slazenger, Dunlop and Lonsdale. In October, Sports Direct bought 20 stores, and all stock, from the administrators of one-time rival JJB Sports. There has been speculation that Mr Ashley may be interested in making a bid for House of Fraser or the collapsed retailer Republic. But retail analyst Nick Bubb said "[Mr Ashley] doesn't need the money and if he was intending to bid for retail assets, he would do that through Sports Direct". He added: "I think he's doing it to improve liquidity in the stock", meaning that there will be more shares in wider circulation to make buying and selling them easier. In December, Sports Direct reported a pre-tax profit of £125m for the six months to 28 October, a new high for the company, and up from £100m a year earlier. Link to post Share on other sites More sharing options...
stozo Posted February 27, 2013 Share Posted February 27, 2013 Obviously sold the shares so he could free up cash for a cheeky bid for Bale in the summer... Link to post Share on other sites More sharing options...
toontenacity Posted February 27, 2013 Share Posted February 27, 2013 The Times ran an article saying he intends to invest the money in the club rather than in another business venture! In the business section by the way Link to post Share on other sites More sharing options...
Dave Posted February 27, 2013 Share Posted February 27, 2013 Bully for the overweight child of unmarried parents. Link to post Share on other sites More sharing options...
BottledDog Posted February 27, 2013 Share Posted February 27, 2013 The Times ran an article saying he intends to invest the money in the club rather than in another business venture! In the business section by the way Can't see it myself, but good news if it happened. ...though it goes without saying that I'd feel a certain degree of sympathy for the committed folk who said they'd give up supporting the club until he left. Must be torture. Link to post Share on other sites More sharing options...
Benwell Lad Posted February 27, 2013 Share Posted February 27, 2013 Bully for the overweight child of unmarried parents. ... allegedly born within sound of the Bow Bells. Link to post Share on other sites More sharing options...
WarrenBartonCentrePartin Posted February 28, 2013 Share Posted February 28, 2013 SD have bought Republic http://www.bbc.co.uk/news/business-21617054 Link to post Share on other sites More sharing options...
Super Duper Branko Strupar Posted February 28, 2013 Share Posted February 28, 2013 Another quality brand to add to his portfolio. Saved 2100 jobs, mind. Link to post Share on other sites More sharing options...
Ryan_Taylor Posted February 28, 2013 Share Posted February 28, 2013 SD have bought Republic http://www.bbc.co.uk/news/business-21617054 "Cheap cheap fashion at cheap cheap prices. Charvers come on down!" Guess who wins again. He's now catering for the poverty stricken charv who just can't live with out his donnay trackies, and your more up market scumbag who just loves that Henleys... Link to post Share on other sites More sharing options...
madras Posted February 28, 2013 Share Posted February 28, 2013 SD have bought Republic http://www.bbc.co.uk/news/business-21617054 "Cheap cheap fashion at cheap cheap prices. Charvers come on down!" Guess who wins again. He's now catering for the poverty stricken charv who just can't live with out his donnay trackies, and your more up market scumbag who just loves that Henleys... profit to be made without really harming anyone. can't decide if I love or hate the snobbiness on this place. Link to post Share on other sites More sharing options...
Guest neesy111 Posted February 28, 2013 Share Posted February 28, 2013 SD have bought Republic http://www.bbc.co.uk/news/business-21617054 "Cheap cheap fashion at cheap cheap prices. Charvers come on down!" Guess who wins again. He's now catering for the poverty stricken charv who just can't live with out his donnay trackies, and your more up market scumbag who just loves that Henleys... profit to be made without really harming anyone. can't decide if I love or hate the snobbiness on this place. That's if he turns them around. Link to post Share on other sites More sharing options...
Super Duper Branko Strupar Posted February 28, 2013 Share Posted February 28, 2013 Hmm, I don't think it's snobbery. Just refusal of shite goods and services. Bought a new light for my bike from SD last week as mine was knicked. £4 Dunlop one. My shits after a curry with extra chilli's are more luminous. Cheap tat, churned out en masse without any regards for the consumer. Hardly savvy business. Link to post Share on other sites More sharing options...
madras Posted February 28, 2013 Share Posted February 28, 2013 Hmm, I don't think it's snobbery. Just refusal of s**** goods and services. Bought a new light for my bike from SD last week as mine was knicked. £4 Dunlop one. My s***s after a curry with extra chilli's are more luminous. Cheap tat, churned out en masse without any regards for the consumer. Hardly savvy business. bought tracksuit bottoms from there a few years back, still wearing them. loads of cheap sweatshirts for girl 1 which are still good enough for girl 2. girl 1's air max's were cheaper there than anywhere else. as everywhere else, you know what you get at that price but i certainly get the feeling many would pay more for identical stuff from more upmarket retailers. (or at least use the place but still have a go at it) Link to post Share on other sites More sharing options...
Ryan_Taylor Posted February 28, 2013 Share Posted February 28, 2013 SD have bought Republic http://www.bbc.co.uk/news/business-21617054 "Cheap cheap fashion at cheap cheap prices. Charvers come on down!" Guess who wins again. He's now catering for the poverty stricken charv who just can't live with out his donnay trackies, and your more up market scumbag who just loves that Henleys... profit to be made without really harming anyone. can't decide if I love or hate the snobbiness on this place. I'm not being snobby, but Mike has his target market. Link to post Share on other sites More sharing options...
madras Posted February 28, 2013 Share Posted February 28, 2013 SD have bought Republic http://www.bbc.co.uk/news/business-21617054 "Cheap cheap fashion at cheap cheap prices. Charvers come on down!" Guess who wins again. He's now catering for the poverty stricken charv who just can't live with out his donnay trackies, and your more up market scumbag who just loves that Henleys... profit to be made without really harming anyone. can't decide if I love or hate the snobbiness on this place. I'm not being snobby, but Mike has his target market. as does ferrari, whats the problem ? Link to post Share on other sites More sharing options...
nufc4eva Posted February 28, 2013 Share Posted February 28, 2013 Wish I had his money tbh Link to post Share on other sites More sharing options...
Ryan_Taylor Posted February 28, 2013 Share Posted February 28, 2013 SD have bought Republic http://www.bbc.co.uk/news/business-21617054 "Cheap cheap fashion at cheap cheap prices. Charvers come on down!" Guess who wins again. He's now catering for the poverty stricken charv who just can't live with out his donnay trackies, and your more up market scumbag who just loves that Henleys... profit to be made without really harming anyone. can't decide if I love or hate the snobbiness on this place. I'm not being snobby, but Mike has his target market. as does ferrari, whats the problem ? Um, there's not one Link to post Share on other sites More sharing options...
macphisto Posted February 28, 2013 Share Posted February 28, 2013 Hmm, I don't think it's snobbery. Just refusal of s**** goods and services. Bought a new light for my bike from SD last week as mine was knicked. £4 Dunlop one. My s***s after a curry with extra chilli's are more luminous. Cheap tat, churned out en masse without any regards for the consumer. Hardly savvy business. bought tracksuit bottoms from there a few years back, still wearing them. loads of cheap sweatshirts for girl 1 which are still good enough for girl 2. girl 1's air max's were cheaper there than anywhere else. as everywhere else, you know what you get at that price but i certainly get the feeling many would pay more for identical stuff from more upmarket retailers. (or at least use the place but still have a go at it) I think it's great for what it is, at the larger stores they cater for almost all major sports and at a good price. For me it's similar to Argos in many respects as you can get all sorts of things at a cheap price whilst at the same time being able to pay more for better quality. I did boycott Sports Direct for a while but then I just couldn't be bothered anymore....... I have seen a few Sports Direct shops in Malaysia, be interesting how it does over there. Link to post Share on other sites More sharing options...
Minhosa Posted February 28, 2013 Share Posted February 28, 2013 Won't be long til he gets Wonga linked to the sales process and get's his customers to sign up upon payment if they can't afford it there and then. Link to post Share on other sites More sharing options...
loki679 Posted February 28, 2013 Share Posted February 28, 2013 Hmm, I don't think it's snobbery. Just refusal of s**** goods and services. Bought a new light for my bike from SD last week as mine was knicked. £4 Dunlop one. My s***s after a curry with extra chilli's are more luminous. Cheap tat, churned out en masse without any regards for the consumer. Hardly savvy business. He got you to give him your money and has just cashed in to the tune of £100m as well as £125m profits this year. That's not savvy business? Link to post Share on other sites More sharing options...
The College Dropout Posted February 28, 2013 Share Posted February 28, 2013 Aye, Ashley fluked his way to a billion. I remember some saying Fernandes was a better business man. Link to post Share on other sites More sharing options...
Guest icemanblue Posted February 28, 2013 Share Posted February 28, 2013 Aye, because QPR signed Remy ahead of us. That was class. Link to post Share on other sites More sharing options...
Super Duper Branko Strupar Posted February 28, 2013 Share Posted February 28, 2013 Hmm, I don't think it's snobbery. Just refusal of s**** goods and services. Bought a new light for my bike from SD last week as mine was knicked. £4 Dunlop one. My s***s after a curry with extra chilli's are more luminous. Cheap tat, churned out en masse without any regards for the consumer. Hardly savvy business. He got you to give him your money and has just cashed in to the tune of £100m as well as £125m profits this year. That's not savvy business? You know what I mean. Am I going to buy anything from there again after that? Maybe trainers at a push, but that'll be it. There's only so often you can rely on new custom. Link to post Share on other sites More sharing options...
Mole_Toonfan Posted February 28, 2013 Share Posted February 28, 2013 Aye, Ashley fluked his way to a billion. I remember some saying Fernandes was a better business man. Some Marseille fan was telling me that Fernandes is smart he's spending money Ashley isn't and they will stay up ( obviously before we bought Sissoko etc etc) The look on my face when he drove us to victory against Chelsea on his home debut and QPR continuing to struggle was even more smug than usual. Link to post Share on other sites More sharing options...
madras Posted February 28, 2013 Share Posted February 28, 2013 Hmm, I don't think it's snobbery. Just refusal of s**** goods and services. Bought a new light for my bike from SD last week as mine was knicked. £4 Dunlop one. My s***s after a curry with extra chilli's are more luminous. Cheap tat, churned out en masse without any regards for the consumer. Hardly savvy business. He got you to give him your money and has just cashed in to the tune of £100m as well as £125m profits this year. That's not savvy business? You know what I mean. Am I going to buy anything from there again after that? Maybe trainers at a push, but that'll be it. There's only so often you can rely on new custom. if i bought a lamp for my bike for £4 (mind you the most i'll pay is a tenner, more for a rear light mind) from harrods i'd still think "it's a £4 lamp, it's not going to be great". Link to post Share on other sites More sharing options...
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