Findel one step closer to blocking Sports Direct’s plan to shake up board, as shareholderse Toscafund, Schroders and River & Mercantile agree to vote against resolution December 2, 2015 At least three of Findel's major shareholders have said they will vote against a resolution that would put a Sports Direct-nominated director on the company board, taking the total number of votes expected to go against the move to nearly 44 per cent. Sports Direct (SDI) took a 19 per cent stake in the company, which [...]
Rangers: Mike Ashley ally Sandy Easdale increases stake January 20, 2015 Sandy Easdale, chairman of the Rangers football board, has increased his stake in the company to 6.45 per cent. The businessman now owns a total of 5.3m ordinary shares in Rangers International Football Club after purchasing just over 1m at a price of 1p per ordinary share on Friday. Easdale also has the [...]
Mike Ashley’s USC goes into administration with hundreds of jobs at risk January 8, 2015 Hundreds of jobs could be lost at Mike Ashley's fashion chain USC after filing a notice of the intention to appoint receivers at the High Court yesterday. A third of USC's 90 stores, which are believed to employ 1,000 staff are set to close. On Wednesday morning, dozens of staff at the USC warehouse in [...]
Rangers boss admits he must pick Mike Ashley’s players on loan from Newcastle February 5, 2015 Mike Ashley may only have an 8.96 per cent stake in Rangers, yet it appears his influence on the club extends all the way down to what happens on the pitch. On Monday, five players arrived at Ibrox on loan from Newcastle United, the Premier League club owned by Ashley. Rangers boss [...]
Rangers board plays down Mike Ashley’s influence as it announces date to vote on Dave King takeover February 6, 2015 Rangers have called a general meeting for 4 March to vote on shareholder Dave King’s requisition to remove the board. The current Rangers board of four directors including chairman David Somers and chief executive Derek Llambias would be removed if shareholders agree to the resolution put forward by King’s requisition. Former director [...]
Hotel cancels Rangers’ shareholder meeting over Mike Ashley’s involvement following concerns about “significant disruption” February 10, 2015 The hotel that was to host the upcoming general meeting for Rangers shareholders has pulled out over fears it would result in “significant disruption” to other guests and neighbours. The meeting is expected to be something of a showdown between the club's shareholders and Mike Ashley, who recently lent Rangers more than £10m to [...]
Sports Direct gives up chase for posh fitness chain Soho Gyms September 27, 2015 Sports Direct has abandoned its bid for upmarket fitness centre chain Soho Gyms, according to reports. The retailer had held discussions with the gym company with the aim of reaching a deal that would extend its own gym business, Sports Direct Fitness, which launched in November last year. However, The Sunday Telegraph reported that the [...]
Mike Ashley and Rangers will face charges of failing “the best interests of football” next month January 28, 2015 The Scottish FA have set a date of March 2 for the hearing into charges against Mike Ashley and Rangers. Ashley will face two charges relating to his possible breach of the Scottish FA’s dual club ownership rules. The Sports Direct founder owns Newcastle United and also has an 8.96 per cent stake [...]
Mike Ashley offers Rangers £10m loan in return for securities on Ibrox January 15, 2015 Mike Ashley appears to have offered flailing Rangers a life-line, but in order to accept the Scottish club's board will have to renege on promises previously made to fans. The Newcastle United owner is ready to provide a £10m loan to the club, but in return will want securities on its Ibrox stadium and [...]
FTSE 100 closes down as Sports Direct struggles – London Report December 11, 2015 Gains for Glencore couldn’t keep the FTSE 100 up last night as both Sports Direct and Old Mutual fell hard. The index closed 0.63 per cent down at 6,088. Sports Direct slumped after Mike Ashley’s retailer posted poor first-half results and the company was criticised for staff conditions. Group revenue ticking up 0.1 per cent [...]