Has Mike Ashley acquired a significant stake in JJB?
As we covered just a couple days ago, former JJB chief executive Chris Ronnie's 23% stake in JJB was auctioned off to the highest bidder earlier this week. While there are no financial details available it is believed that Sports Direct owner Mike Ashley was the successful bidder and now talks for around 29% of JJB shares. This is a rather interesting development because there is significant friction between Mike Ashley and David Whelan (the founder of JJB Sports) which has spilled over into the public arena over the last few days.
While the immediate future of JJB Sports appears to be a lot more solid than it was just a week ago, with the sale of the lifestyle division, there are still concerns for the long-term future. Mike Ashley is something of a controversial figure in the world of sports retailer having attracted unwanted press headlines during his tenure as the owner of Newcastle United Football Club. There have also been a number of critical reports written about Sports Direct and the way the business is structured.
It appears that we could see a clash of the titans from the retail world if Mike Ashley and David Whelan decided to go head-to-head with the future of JJB sports at stake.
Share this..
Related stories
Housing affordability down 350% since 2006
Housing affordability is near to a record low, and has dropped by 350 per cent in the past 11 years, according to new figures from the Royal Institution of Chartered Surveyors' (Rics) accessibility index.Data from Rics shows that homes are now five times more expensive for first-time buyers than they were in 1996, and the average cost of getting on the property ladder has risen by 8.4 per cent in...
Read MoreOver 50s jargon buster
It’s easy to get bogged down by technical terms and abbreviations when trying to research what type of insurance is best for you. Here at financialadvice.co.uk, we have asked our insurance experts to put together a handy jargon buster which focuses on over 50s life insurance, but also talks about what other types of insurance options are open to you. Don’t forget, if you have a financial quest...
Read MoreHector Sants to step down as FSA chief executive
Hector Sants has revealed that he will be stepping down from his position as chief executive of the Financial Services Authority (FSA) later this year after his three-year tenure comes to an end. The former investment banker has presided over what has been the most difficult financial situation in the UK for decades and managed to retain his reputation and his cool throughout. While the rumour...
Read MoreYoung drivers lack basic car know-how
Young drivers fork out £140 million every year in car maintenance due to their lack of basic mechanical know-how, new research suggests.According to the study carried out by Direct Line, half of all drivers under 25 do not know how to jumpstart their car or replace a tyre, compared to 25 per cent of drivers aged 45 or over.Nearly one in three admitted to paying to have their oil changed, while 25...
Read MoreOfgem suggests shakeup of energy market
Energy regulator Ofgem has issued a report which contains radical suggestions for the future of UK energy market. The two main suggestions revolve around tenders for energy capacity and renewable energy generation although there is a more radical possibility in the background regarding the creation of a central energy buyer for the UK energy market as a whole. The truth is the UK energy market...
Read More