Mike Ashley has agreed to a rare public statement.

The Newcastle United owner forced to act after recent speculation about the future of Sports Direct.

In the last four months the company has halved in value, with Mike Ashley himself seeing his 55% stake devalued by over £1billion.

On the back of this, speculation has circulated that Ashley intended to take advantage of the falling share price and take the company into private ownership.

It was after Mike Ashley sold a significant part of Sports Direct that he used part of that cash to buy Newcastle United in 2007.

However, Mike Ashley has instructed his PR company (who also look after Newcastle United) to put out a short but definitive message on Thursday night.

With the London Evening Standard quoting Keith Bishop of KBA:

“I have spoken to Mike directly and there is not a shred of truth in these rumours.”