Sports Direct PLC (LON:SPD) has confirmed it made an approach bid Goals Soccer Centres at a price of 5p per share.
Mike Ashley’s vehicle proposed the possible offer to the troubled five-a-side league group earlier this month but has gone public after it received no response.
Sports Direct is Goal Soccer’s largest shareholder with a near 19% stake.
Shares in Goals Soccer were suspended in August after it uncovered financial impropriety dating back to 2010.
Goals is expected to lose its AIM listing at the end of the month at which point shareholders including Sports Direct will lose the ability to influence the sales of Goals’ assets or business.
Sports Direct believes an extension is possible due to its interest and believes ‘that due to Goals' well-publicised difficulties the board of Goals is not committed to maintaining Goals' trading facility. Instead, it seems only interested in pursuing the AMA (asset sale) process.’
Goals has confirmed that the company has received a possible cash offer from Sports Direct at 5p per share, which it called “preliminary and highly caveated”. The company said that the offer is still under discussion.
--Updated for Goals response.