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Mike Ashley Banks Another £113m

7 years ago
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Yesterday came the news that Sports Direct’s fortunes continue to rise and that total sales had risen 15% to £463.7m, with gross profit up 19.4% to £199.8m, in the 6 months to the end of October.

This even beat the performance of the company during the Olympics last Summer.

Now it has been revealed that Mike Ashley has cashed in some of his chips and sold 16m of his shares in Sports Direct. The shares represent 2.7% of the total shares in the company and Ashley has pocketed £113m in the sale to Goldman Sachs.

Mike Ashley remains by far the biggest shareholder at SD, retaining still more than 60% of the total shareholding.

I suppose it is a toss up as to whether he buys Gareth Bale (a permanent deal for Remy would be nice…) for Newcastle United with the cash windfall or another dozen companies which will ‘benefit’ from his ruthless business practices.

Good to see though that all the free advertising at St.James’ Park is doing its bit to help.

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