Second hotel cancels crucial Rangers’ meeting after “threats from persons unknown” February 18, 2015 A second hotel has pulled out of the Rangers' extraordinary general meeting, this time with the club citing "threats from persons unknown". The meeting, which will seek shareholder approval over a requisition order made by former directors Dave King and Paul Murray, had been scheduled to take place at the Grange Hotel at Tower Hill [...]
Mike Ashley rumoured to be close to LA Fitness deal May 14, 2014 Sports Direct founder Mike Ashley has moved to take on around 30 LA fitness sites, Sky News' City editor, Mark Kleinman, reports. The exuberant billionaire has agreed to offer a parent company guarantee to LA Fitness landlords regarding leases on the gyms, according to sources. One did say, however, that, despite a deal being imminent, things [...]
Sports Direct boss strengthens hold on Rangers with loan deal January 27, 2015 GLASGOW Rangers yesterday accepted a long-term credit facility of £10m from Sports Direct boss Mike Ashley. The football club admitted its financial condition has been made worse by poor match attendance. The facility is structured in two interest free tranches with £5m available immediately for working capital purposes and the repayment of previous debt, with [...]
Mike Ashley in talks to buy 33 LA Fitness sites May 14, 2014 SPORTS Direct’s billionaire owner Mike Ashley has set his sights on expanding into the health and leisure industry, with plans to buy 33 sites from LA Fitness. The health club chain confirmed yesterday that it was in talks with the Newcastle United football club owner over the 33 sites, which had been put up for [...]
Sports Direct boss Ashley under fire from Scottish MPs over USC February 2, 2015 MIKE ASHLEY could face a grilling by Scottish MPs over the administration of clothing retailer USC, with politicians pressing to launch a full parliamentary investigation into his activities. The Scottish Affairs Committee is launching an inquiry into the fast fashion chain, with MPs last week branding the redundancies of more than 200 people as “despicable” and [...]
Christmas comes early in the Singleton house: Sports Direct non-executive director gives wife £244,300 in shares December 22, 2014 A non-executive director at Sports Direct has given £244,300 worth of company shares to his wife “by way of gift”. In a company announcement made earlier today, the British retailing group revealed that David Singleton gave 35,000 of the shares to Elizabeth Singleton. The shares, each worth 698 pence, were held beneficially by him. [...]
Randy Work joins Roman Abramovich and Sir Chris Hohn with multi-million pound divorce settlement March 10, 2015 London cemented its reputation as the divorce capital of the world after a businessman was ordered to pay his ex-wife £72.3m, amounting to half his wealth. Randy Work, a former private equity executive at Lone Star, argued that his £150m fortune should be protected from ex-wife Mandy Gray as he was the “breadwinner” and because [...]
Sports Direct criticises investors for rejecting Mike Ashley bonus April 23, 2014 SPORTS Direct yesterday hit out at shareholders for failing to back a bonus share scheme that would have awarded its founder Mike Ashley a £70m windfall, as it posted a rise in fourth quarter sales. The sportswear giant’s board was forced to cancel the plan earlier this month after failing to win enough investor support. [...]
Christmas week to kick off with crunch Rangers FC meeting – London week ahead December 21, 2014 WITHOUT any major company results reporting before Christmas, market attention could turn to the annual meeting of the crisis-hit Rangers International Football Club, part-owned by Sports Direct boss Mike Ashley. The team’s manager, legendary goal-scorer Ally McCoist, officially stood down last night. The Aim-listed company will vote on whether to inject £8m in funding to [...]
Sarver kicks off Rangers debate with a new bid January 8, 2015 AMERICAN multi-millionaire Robert Sarver yesterday returned with a new £20m offer for Rangers, after the Scottish football club rebuffed his first £18m approach on Wednesday. The new proposal is for a majority stake in the once-unassailable Glasgow club and comprises a new share placing worth 20p a share. As part of the offer, Sarver will [...]