Findel Sports Direct boss increases stake in Goals Soccer Centres
Sports Direct boss Mike Ashley has increased his stake in Goals Soccer Centres, the five-a-side football pitch chain, from 3.8% to 4.7%. Shares in both firms rose on the announcement. Ashley also has stakes in Findel, Game Digital, Debenhams, French Connection and Agent Provocateur, plus US retailers Bob’s Stores and Eastern Mountain Sports, after buying the debts of their parent firm Eastern Outfitters, which filed for Chapter 11 in February.

Something went wrong, please try again later.

Invalid email Something went wrong, please try again later.

Get our FREE Newcastle United newsletter emailed daily to your inbox by subscribing below

Newcastle United owner Mike Ashley has continued to build on his retail empire by snapping up more shares in Goals Soccer Centres.

The billionaire entrepreneur and Sports Direct boss, has increased his holding in the five-a-side football pitch chain, which has North East sites, to around 4.7%, up from 3.8% – and shares in both firms rose following the announcement.

The shares deal was confirmed to shareholders in stock market announcements by both Sports Direct and Goals Soccer Centres, in the form of a notification of major holdings.

Shares in Goals Soccer Centres rose 8% in early trading.

Last month Mike Ashley’s retail empire Sports Direct continued to build up holdings in fellow high street names after picking up a 26% stake in struggling Game Digital.

The shares purchase came a month after Game issued a profit warning, having bemoaned a challenging high street trading period and the poor stock availability of Nintendo Switch.

The billionaire has a history of snapping up stakes in struggling high street firms.

He also now has stakes in Debenhams, French Connection and Findel, as well as 10 Agent Provocateur stores.

In April it was also announced that Sports Direct had seized control of US retailers Bob’s Stores and Eastern Mountain Sports in a $101m (£78m) debt deal. The billionaire tycoon acquired the chains by buying up the debts of their parent firm Eastern Outfitters, which filed for Chapter 11 bankruptcy protection in February.

The deal will see Mr Ashley take charge of around 50 retail stores in the US under the Bob’s Stores and Eastern Mountain Sports fascias, which sell clothing, sportswear and camping equipment.

The company also upped stakes in Umbro-owned Iconix Brand Group and doubled its stake in Indiana-based footwear retailer Finish Line in June – the second time the firm boosted its stakes in the businesses. The firm has 13.25% of the issued common stock of Iconix and 18.85% of the stock of Finish Line Inc.

Meawhile, Mr Ashley has declared Sports Direct to be on track to become the ‘Selfridges of sport’, through its new generation of stores.

The business has ploughed £300m into property in the last year, acquired stores and new brands in the UK and overseas and opened several flagship stores, including one in Sunderland.