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Mike Ashley Sidekick Warns Of Consequences If Boss Is Upset Again

8 years ago
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Mike Ashley sidekick Dave Forsey, has warned against taking the risk of upsetting his boss again.

Forsey, the Chief Executive of Sports Direct, has warned the retailer’s shareholders not to oppose the latest scheme to benefit Ashley, or else it would be ‘likely to lead to further uncertainty in the future’.

Major minority shareholders in SD recently made clear they’d block a proposal to give Ashley around £70m worth of bonus shares, leading to the plan being put to one side.

In retaliation, Ashley immediately sold over £200m worth of shares, which directly led to an instant 10% drop in the value of SD shares, though they have then gone on the up again.

Just like Newcastle fans still paying the price for questioning Ashley’s running of the club with it being demolished scrap by scrap, the SD major shareholders are now being left in no doubt that the NUFC owner will exact retribution if they cross him again.

As he announced increased sales of 11% over the last quarter and gross profits raised by 14.9% to £120m for that period, Dave Forsey added this warning;

“During this period the board was extremely disappointed to withdraw the resolution regarding a proposed share scheme award to Mike Ashley.

“The most disappointing aspect was large shareholders giving their support, only to then vote differently – this outcome is likely to lead to further uncertainty in the future.”

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