Windfall for Mike Ashley in shares sale

Newcastle United owner Mike Ashley today pocketed more than £110m after a shares sale reduced his stake in retail chain Sports Direct.

Windfall for Mike Ashley in shares sale
Wed, 21 Jan, 2015 - 17:37

Newcastle United owner Mike Ashley today pocketed more than £110m after a shares sale reduced his stake in retail chain Sports Direct.

The tycoon, who is involved in a boardroom battle over troubled Scottish football club Rangers, secured the windfall by offloading 2.5% of the company’s shares, leaving him with a 55% stake worth £2.4 billion.

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