SammyBear 0 Posted January 20, 2015 Share Posted January 20, 2015 Mike Ashley sells £117m stake in Sports Direct Share sale fuels rumours that Newcastle United owner is preparing to offer emergency loan to Rangers 0 Quote Link to post Share on other sites More sharing options...
buba3d 0 Posted January 20, 2015 Share Posted January 20, 2015 oh well king, its now or never and i suspect it will be the latter. 0 Quote Link to post Share on other sites More sharing options...
Anchorman 0 Posted January 20, 2015 Share Posted January 20, 2015 oh well king, its now or never and i suspect it will be the latter. Maybe I'm being slow, but for what? 0 Quote Link to post Share on other sites More sharing options...
buster. 5,183 Posted January 20, 2015 Share Posted January 20, 2015 We had the familar 'about to sell Newcastle Utd' line last week. Has that now faded away ? Any excuse to make the link,.....here we have a 117M sale to supposedly fund 10M. 0 Quote Link to post Share on other sites More sharing options...
ian1964 10,720 Posted January 20, 2015 Share Posted January 20, 2015 Don't think he needs to sell anything to loan Rangers £10m 0 Quote Link to post Share on other sites More sharing options...
the wasp 0 Posted January 20, 2015 Share Posted January 20, 2015 Don't think he needs to sell anything to loan Rangers £10m No,he could probably find that much down the back of his couch. 0 Quote Link to post Share on other sites More sharing options...
pete 2,499 Posted January 20, 2015 Share Posted January 20, 2015 Is that last 7 million our 7 million?:devil: 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,742 Posted January 20, 2015 Share Posted January 20, 2015 That "stake" is how much of Sports Direct? On face value and unless it is really significant, that is of no consequence to his dealings with Rangers? 0 Quote Link to post Share on other sites More sharing options...
Zappa 0 Posted January 20, 2015 Share Posted January 20, 2015 That "stake" is how much of Sports Direct? On face value and unless it is really significant, that is of no consequence to his dealings with Rangers? Mike Ashley sells £117m stake in Sports Direct Share sale fuels rumours that Newcastle United owner is preparing to offer emergency loan to Rangers Sarah Butler The Guardian, Tuesday 20 January 2015 20.05 GMT Mike Ashley is selling a 2.6% stake in Sports Direct, worth £117m, in a deal with US bank Goldman Sachs. The sale of the 15.4m shares, which will reduce his total stake to 55%, is likely to fuel rumours that the Newcastle United owner is preparing to offer cash-strapped Scottish football team Rangers a £10m emergency loan. Ashley, who founded Sports Direct in 1982, has filed documents notifying Land Registry officials he plans to add the retailer to the title deeds of Rangers’ stadium and training ground. That move is seen as a prelude to offering a loan, which would effectively give him control of Ibrox. The Rangers Supporters Trust has called in lawyers in an attempt to thwart his plans. The share sale comes after Ashley, who receives no salary or dividends from Sports Direct, withdrew from plans to include him in a company bonus scheme. It could fuel speculation that Ashley is looking to acquire a new strategic stake in the retail world. Last year he bought an 11% stake in House of Fraser in an attempt to block its takeover by Chinese conglomerate Sanpower. Over the past few years Sports Direct has also taken a number of bets on retail chains including Debenhams and Tesco via complex financial instruments known as put options. In September Sports Direct took a £43m option out on Tesco shares and in November entered into another derivative agreement relating to shares in Debenhams which took its interest in the department store group to 12.7%. Ashley said he viewed the stakes as part of a “wider conversation” with those companies. Both retailers have recently allowed Sports Direct to put outlets in some of their spare retail space. Sports Direct declined to comment on the share sale which comes less than a year after Ashley offloaded £200m of stock, sending the retailer’s share price diving. News of the sale, which comes before Sports Direct’s update on Christmas trading, emerged in a statement from Goldman Sachs after the market closed and is likely to be confirmed by Sports Direct on Wednesday. In December the company said that trading since the end of October had been “in line with management’s expectations”. Ashley told analysts that Sports Direct’s performance had been hit by the warm autumn but probably less so than other UK fashion retailers. http://www.theguardian.com/business/2015/jan/20/mike-ashley-sports-direct-newcastle-rangers 0 Quote Link to post Share on other sites More sharing options...
der Berliner 3,742 Posted January 20, 2015 Share Posted January 20, 2015 Thanks Zappa, just saw the same and the following comment on FF: He sold £200m last year and the same in 2013. Did Newcastle see any of it....? 0 Quote Link to post Share on other sites More sharing options...
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