Sports Direct's Mike Ashley dismisses banker's claim of £15mln deal as 'drink banter'
Mike Ashley has accused a former colleague of trying to squeeze money out of him in a lawsuit off the back of 'banter' held over drinks at a London pub
Company
LON:SPD
Frasers Group plc, formerly Sports Direct International plc, is a British retailing group. Established in 1982 by Mike Ashley, the company is the United Kingdom's largest sports-goods retailer and operates roughly 670 stores worldwide.
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Mike Ashley has accused a former colleague of trying to squeeze money out of him in a lawsuit off the back of 'banter' held over drinks at a London pub
Mike Ashley's Sports Direct has taken on bankrupt US retailer Eastern Outfitters, the parent company of Bob’s Stores and Eastern Mountain Sports, and its 50 retail stores
The plans were announced as the FTSE 250-listed firm reported pre-tax profit of £87.8mln for the 26 weeks to March 4, down 6.4% from the £93.8mln reported a year earlier
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Sports Direct's holding is of 2.88% held via contracts for differences (CFDs), in addition to a put option it holds over a 10.5% stake, giving an overall holding of 13.38%
A spokesman for the retailer said that the Sports Direct figure in the table of data published by newspaper City AM, and attributed to Pensions & Investment Research Consultants (PIRC), was “incorrect”.
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From the mis-treatment of staff to a series of profit warnings,Sports Direct's Mike Ashley has plenty of work to do in order to redeem himself
Sports Direct boss Mike Ashley is trying to rebuild the retailer's reputation after MPs accused the company of mis-treating employees
The company said its euro-dollar exchange rate was currently hedged at US$1.46 and that it had no hedging in place for 2018.
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The building society said UK house prices were up 4.3% year-on-year in January, a slowing from 4.5% growth in December and the smallest increase since November 2015.
Mike Ashley was speaking following comments made by hedge fund boss Crispin Odey of Odey Asset Management at the weekend.
Keith Hellawell’s re-appointment was opposed by 54% of the firm's independent shareholders, with that figure unchanged from the number achieved in September.