Optimistic Nut Posted April 7, 2014 Share Posted April 7, 2014 Does that mean he's selling £225m of his own shares (so decreasing his stake), or getting £225m into SD by means of more shares for other people? Sorry, pretty naff at this sort of thing. Link to post Share on other sites More sharing options...
Dave Posted April 7, 2014 Share Posted April 7, 2014 http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10750718/Mike-Ashley-sells-218m-of-Sports-Direct-shares.html Mike Ashley has banked more than £200m by selling part of his stake in Sports Direct. The share sale follows Mr Ashley's acquisition of an 11pc stake in House of Fraser, with mystery surrounding his intentions for the department store. Mr Ashley has bought the stake from tycoon Sir Tom Hunter, with Chinese group Sanpower acquiring the remaining 89pc. Last week the Sports Direct founder also had a potential bonus pay-out of more than £70m rejected by the company's shareholders. Mr Ashley is selling 25m shares in Sports Direct through a placing handled by the retailer's broker Goldman Sachs. The 25m shares are only a small portion of Mr Ashley's stake in Sports Direct and he will still own roughly 60pc of the company. The share sale is Mr Ashley's first in 2014, although he sold more than £100m of shares on two separate occasions last year. Sports Direct sources insisted the sale is not connected to House of Fraser. The company is still yet to publicly declare that it has acquired a stake in the department store. Instead, the sources claimed Mr Ashley was selling the shares after institutional investors called for greater liquidity in the company. Shares in Sports Direct have risen from a low of just 32p in 2008 to almost 900p. The shares will be sold at between 850p and 870p, compared to Sports Direct's closing share price of 893.5p. Link to post Share on other sites More sharing options...
Guest chopey Posted April 7, 2014 Share Posted April 7, 2014 How much disposable income must this bloke have ? cos I cant imagine those white shirts and jeans costing much !! Link to post Share on other sites More sharing options...
sempuki Posted April 7, 2014 Share Posted April 7, 2014 How much disposable income must this bloke have ? cos I cant imagine those white shirts and jeans costing much !! Greedy bastard isn't he. £3 billion is just not enough. Link to post Share on other sites More sharing options...
Dave Posted April 7, 2014 Share Posted April 7, 2014 http://www.nufc.co.uk/articles/20140407/lee-charnley-appointed-managing-director_2281670_3754161 Owner Mike Ashley will also be formally appointed to the Club's Board of Directors, joining Lee and Finance Director John Irving. I actually managed to skim right over that bit. Wonder what the point is. Link to post Share on other sites More sharing options...
jdckelly Posted April 7, 2014 Share Posted April 7, 2014 http://www.nufc.co.uk/articles/20140407/lee-charnley-appointed-managing-director_2281670_3754161 Owner Mike Ashley will also be formally appointed to the Club's Board of Directors, joining Lee and Finance Director John Irving. I actually managed to skim right over that bit. Wonder what the point is. made me curious too, maybe a more hands on approach from now on? Link to post Share on other sites More sharing options...
mickthemagpie Posted April 7, 2014 Share Posted April 7, 2014 Greedy b****** isn't he. £3 billion is just not enough. Hope so. With any luck the greedy bastard will eat himself to death with the windfall he's just received. Link to post Share on other sites More sharing options...
Guest neesy111 Posted April 7, 2014 Share Posted April 7, 2014 Ashley joining the board probably makes it worse. More cost cutting on the way imo. Link to post Share on other sites More sharing options...
Disco Posted April 7, 2014 Share Posted April 7, 2014 I'll not quote it because it's long but worth a read - http://www.true-faith.co.uk/thru-black-white-eyes-zombies-6apr14/ Link to post Share on other sites More sharing options...
HawK Posted April 7, 2014 Share Posted April 7, 2014 Ashley joining the board probably makes it worse. More cost cutting on the way imo. I actually think it's a positive sign.. Link to post Share on other sites More sharing options...
r0cafella Posted April 7, 2014 Share Posted April 7, 2014 Save us paying another director I suppose? Link to post Share on other sites More sharing options...
Mattoon Posted April 7, 2014 Share Posted April 7, 2014 http://www.nufc.co.uk/articles/20140407/lee-charnley-appointed-managing-director_2281670_3754161 Owner Mike Ashley will also be formally appointed to the Club's Board of Directors, joining Lee and Finance Director John Irving. I actually managed to skim right over that bit. Wonder what the point is. maybe with more control in the day to day running of the club he'll see how bad Pardew is and sack him? ...sorry I think I just dropped some of the straws I was clutching! Link to post Share on other sites More sharing options...
Guest chopey Posted April 7, 2014 Share Posted April 7, 2014 Ashley joining the board is just lip service he has total control now anyway, I bet he can tell you the wholesale and retail price of everything in the club shop right now Link to post Share on other sites More sharing options...
Darth Crooks Posted April 7, 2014 Share Posted April 7, 2014 I know we want him out, but seriously where the hell would that leave us? With a shred of hope that we might actually progress? http://telly.com/1I052JQ?sg=1 Link to post Share on other sites More sharing options...
Interpolic Posted April 7, 2014 Share Posted April 7, 2014 I'll not quote it because it's long but worth a read - http://www.true-faith.co.uk/thru-black-white-eyes-zombies-6apr14/ Great summary of the situation at present. Link to post Share on other sites More sharing options...
Ryan_Taylor Posted April 7, 2014 Share Posted April 7, 2014 Ah this is worse than it being one of his cronies. Link to post Share on other sites More sharing options...
mrmojorisin75 Posted April 8, 2014 Share Posted April 8, 2014 http://www.nufc.co.uk/articles/20140407/lee-charnley-appointed-managing-director_2281670_3754161 Owner Mike Ashley will also be formally appointed to the Club's Board of Directors, joining Lee and Finance Director John Irving. I actually managed to skim right over that bit. Wonder what the point is. made me curious too, maybe a more hands on approach from now on? if he's selling shares in SD to satisfy investors and has just been knocked back for that massive bonus scheme, perhaps it's a paper move to distance him from the running of SD somewhat...he can point to a status on the NUFC board and claim he's involved in that, or some bollocks Link to post Share on other sites More sharing options...
merlin Posted April 8, 2014 Share Posted April 8, 2014 IS there a board of directors...? Or is it a dictatorship..? Link to post Share on other sites More sharing options...
Guest firetotheworks Posted April 8, 2014 Share Posted April 8, 2014 Won't have just done that so that he can pay himself a bonus, or does it not work like that? Link to post Share on other sites More sharing options...
mrmojorisin75 Posted April 8, 2014 Share Posted April 8, 2014 Won't have just done that so that he can pay himself a bonus, or does it not work like that? nah he doesn't need to do that and doesn't seem to do it at SD, doesn't take a salary or bonus or whatever from there either...if he perceives himself to be 140m down or whatever a bonus or salary as a director isn't gonna do bollocks really Link to post Share on other sites More sharing options...
thomas Posted April 8, 2014 Share Posted April 8, 2014 more like bored of directors Link to post Share on other sites More sharing options...
Guest firetotheworks Posted April 8, 2014 Share Posted April 8, 2014 Won't have just done that so that he can pay himself a bonus, or does it not work like that? nah he doesn't need to do that and doesn't seem to do it at SD, doesn't take a salary or bonus or whatever from there either...if he perceives himself to be 140m down or whatever a bonus or salary as a director isn't gonna do bollocks really Hmm, he tried to give himself a bonus with SD and the board wouldn't allow it. That's what made me put 2 and 2 together and probably get 5. http://www.bbc.co.uk/news/business-26859758 Link to post Share on other sites More sharing options...
mrmojorisin75 Posted April 8, 2014 Share Posted April 8, 2014 Won't have just done that so that he can pay himself a bonus, or does it not work like that? nah he doesn't need to do that and doesn't seem to do it at SD, doesn't take a salary or bonus or whatever from there either...if he perceives himself to be 140m down or whatever a bonus or salary as a director isn't gonna do bollocks really Hmm, he tried to give himself a bonus with SD and the board wouldn't allow it. That's what made me put 2 and 2 together and probably get 5. http://www.bbc.co.uk/news/business-26859758 perhaps linked but as he owns the club outright he can do whatever the fuck he likes really, if he wants to take 65m out of the club or something he can just do it really Link to post Share on other sites More sharing options...
Kanji Posted April 8, 2014 Share Posted April 8, 2014 more like bored of directors (Norm McDonald) Link to post Share on other sites More sharing options...
wyn davies Posted April 8, 2014 Share Posted April 8, 2014 Probably find that he will take dividends from the club in lieu of wages or bonus to reduce the tax burden Link to post Share on other sites More sharing options...
Recommended Posts