Mike Ashley Sells £100M Of Sports Direct Shares


Sarah Shannon in London is reporting for Bloomberg News that Newcastle owner Mike Ashley has sold 25M shares of Sports Direct for around £100M,  and that has reduced his share of  the company from 69% to 64%.

Mike  Ashley 999

Mike Ashley – Newcastle owner cashed in £100M of Sports Direct Shares

Ashley’s MASH Holdings Ltd. sold the 25M shares in a so-called accelerated bookbuilding trade, and the sale was completed at a price of 400 pence per share.

After the sale,  the stock price dropped as much as 9.2% to 391 pence and was down to 7.3% at the beginning of trading today in London.

The 48-year-old Billionaire owns Newcastle United Football Club,  and he had originally held 410.4 million shares, or 69% of the total stock of Sports Direct, according to data compiled by Bloomberg News.

It’s not unusual for executives to cash in some shares so they have some ready cash – but most of us wouldn’t know what to do with £100M – although we could probably think of some ways of how to use it.

Sports Direct reported excellent financial results last week, and third-quarter sales climbed a massive 21% to £589.5M, and that beat analyst’s estimate of only a 12% growth – so it’s not a bad time for Mike to sell some shares,  after the uptick in the stock price following last week’s results.

And Newcastle are not doing too bad on the financial front either, and there is no reason for Newcastle to sell their best players – as was the case less than two years ago.

And finally, we can categorically deny the rumors that he sold his shares so that Newcastle can buy Lionel Messi from Barcelona – it’s simply not true. 😀

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25 comments so far

  • G

    Feb 26, 2013 at 10:37 AM

    Comment #1

    Oh, Mike Ashley has more money then. Guess we don’t have to sell any more players then?

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  • G

    Feb 26, 2013 at 10:40 AM

    Comment #2

    Actually, I wonder if that is £100Million to go towards the slides at SJP?

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  • lordy_geordie

    Feb 26, 2013 at 10:45 AM

    Comment #3

    Wonder if that £100m is to be used on a down payment for a player? Messi anyone? 🙂

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  • G

    Feb 26, 2013 at 10:46 AM

    Comment #4

    @3, I will happily chew off my right nut if you are correct! If it’s Messi, I will even do it with a smile.

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  • Charlie in the Gallowgate

    Feb 26, 2013 at 10:46 AM

    Comment #5

    £100 million – Put another level on the Gallowgate for when we are challenging for honours – I wish

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  • saxonfenken

    Feb 26, 2013 at 10:47 AM

    Comment #6

    Good for him, the more he make the more I like it, for Le Toon,

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  • cestriasteve

    Feb 26, 2013 at 10:47 AM

    Comment #7

    Mike Ashley is buying an interest in a lot of retail business at the moment adding both Firetrap and Coast to his portfolio. I would imagine he would be the new owner of House of Fraser in the not too distant future.

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  • Ibizatoon - Back by popular demand

    Feb 26, 2013 at 10:47 AM

    Comment #8

    Pardew 50 year contract?

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  • lordy_geordie

    Feb 26, 2013 at 10:54 AM

    Comment #9

    @4 maybe we should get a sort of petition. Everyone on this blog should chew of their Right nut in order to show our support. Maybe Ashley will see putting 100M + towards Messi as less painful than what we are willing to go through? Just a thought… nuts at the ready

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  • G

    Feb 26, 2013 at 11:05 AM

    Comment #10

    Ha ha, if this start’s trending on Twitter, I ain’t taking the blame!

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  • LewSpi v2.0

    Feb 26, 2013 at 11:06 AM

    Comment #11

    Ha ha there were always going to be some good comment son this article, but I think Ibiza takes the win.

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  • Ibizatoon - Back by popular demand

    Feb 26, 2013 at 11:10 AM

    Comment #12

    G…It’s too late for that now, responsibility lies at your door now.

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  • G

    Feb 26, 2013 at 11:15 AM

    Comment #13

    I’m claiming dimished responsibility mate, on account of last nights ‘Paul Wella’! Gonna place the blame at lordy_geordie’s door!

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  • Ibizatoon - Back by popular demand

    Feb 26, 2013 at 11:20 AM

    Comment #14

    G…I think I may have missed something….last nights ‘Paul Wella’?

    All for laying the blame at someones door mind.

    Lordy…What have you started? Honestly, you should be ashamed.

    LewSpi…I can hope for Pardew getting a 50 year contract 🙂

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  • G

    Feb 26, 2013 at 11:26 AM

    Comment #15

    Paul Wella = Stella (as in the ludicrously overpriced Belgian beer)

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  • Ibizatoon - Back by popular demand

    Feb 26, 2013 at 11:29 AM

    Comment #16

    G….Ahhhh, should have got that really. Consumption of beer seems a good enough excuse, I think you’re in the clear.

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  • G

    Feb 26, 2013 at 11:31 AM

    Comment #17

    Great, can you explain that to wor lass for me mate?

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  • Ibizatoon - Back by popular demand

    Feb 26, 2013 at 11:32 AM

    Comment #18

    G….Explain it? Just give her a quick slap…it isn’t known as wife beater for nothing.

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  • G

    Feb 26, 2013 at 11:39 AM

    Comment #19

    If only it was the 1970’s again! For some reason wor lass sees drinking on work nights as wrong? It must be hormones or something.

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  • Ibizatoon - Back by popular demand

    Feb 26, 2013 at 11:45 AM

    Comment #20

    G….Women will always be an enigma mate, always complicate everything 🙂

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  • Ibizatoon - Back by popular demand

    Feb 26, 2013 at 11:56 AM

    Comment #21

    G..Reading this back, we may be wise to distance ourselves from this topic also.

    Lordy…Leave it out, this is no place for woman beating jokes.

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  • numba9

    Feb 26, 2013 at 12:17 PM

    Comment #22

    dont care what he does with SD or any other busuness, as long as he learnt from his mistakes last summer regards our clubs transfer policy

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  • Owldman

    Feb 26, 2013 at 1:05 PM

    Comment #23

    Good for Mike Ashley he is after all a businessman and a good one! But Mike make my dream come true give us better bloody access to level 7

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  • lordy_geordie

    Feb 26, 2013 at 2:07 PM

    Comment #24

    I never mentioned beating women

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  • bobby vee

    Feb 26, 2013 at 7:23 PM

    Comment #25

    Another 100million in Ashleys hip pocket!..Following
    on the massive bonus pay outs to Sports Direct staff,
    how about looking after the long suffering NUFC staff.
    Apparently they haven’t had as much as a cost of living
    rise since he took over! Thoughtless git!!

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