Founder Mike Ashley says past six months have been tough but retailer spends 40m on corporate jet. His eldest daughter Anna is married to Michael Murray, who has an influential role at Ashley's Sports Direct to House of Fraser retail empire. Mike Ashley has three children - two daughters and one son - with ex-wife Linda. compared conditions at its Shirebrook warehouse to a Victorian workhouse, deal that Sports Direct struck with Barlin Delivery.
He is once said to have lost 1 million at Aspers Casino in Newcastle. She said: Any transfer of wealth from a listed company to a controlling shareholder through related party vehicles have the potential to be detrimental to minority shareholders. According to The Sunday Times Rich List in 2021, Ashley is the 61st richest person in the UK with an estimated net worth of 2.718 billion. Mr Ashley's Frasers Group said it would buy 46 leisure clubs and 31 retail outlets from DW Sports Fitness for 37m to merge with its own business. Sports Direct, which has 400. "The board consider it appropriate that Michael leads us forward on this increasingly successful elevation journey.". Billionaire Mike also owns Newcastle United football club. As a sole trader and not having to file accounts at Companies House, little was known about him. The retailers staff, he said, were increasingly upset and angry at the barrage of detrimental comments about the company which in their view is unjustified. Never mind that most of the tracksuits and training shoes he sells are worn by unsporty couch-potatoes rather than gym bunnies, or that the rough-diamond entrepreneur has been nicknamed The Chav King of the High Street. A friend said when they began dating again: 'Mike never wanted to lose Linda in the first place. Sports Direct's governance has come under scrutiny from MPs with Mike Ashley admitting the company has become too big for him to control solely. Michael isn't on the payroll but has taken home more than 15million in fees in the last four years. ", "Rich List 2019: profiles 53-100, featuring Mike Ashley and Bernie Ecclestone", "Mike Ashley to step down as chief of Sports Direct owner Frasers Group", "Mike Ashley, the maverick who changed face of UK sports retail", "Sports World International sales climb 45pc and knock JJB off top spot", "The Times UK News, World News and Opinion", "MPDClick: Kangol sold to sports empire (UK)". Sports Direct chairman should face the final whistle | Nils Pratley. The latter can be worth up to 1 million. It also has a cinema, family room, entertaining area, gym, games room with bowling alley, spa and sauna, and even a private golf course in the garden. The couple previously lived in a nearby three-storey mews house, which was bought by Mr Ashleys youngest daughter, Matilda, for 5.1m four months ago. Are investors underestimating the impact of rate rises? Yesterday, Sports Direct refused to. My immediate priority will be to protect the people at Sports Direct.. [12], Ashley has made his money by buying brands. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. The club was warned by the League Managers Association the next day, to develop a structure which would satisfy the next manager to replace Keegan to avoid a similar situation repeating itself and damaging the club's image. A friend told MailOnline he believes the couple are back together after years of separation - often living apart during the week but spending the weekends together. Michael James Wallace Ashley (born 9 September 1964)[5] is a British billionaire retail entrepreneur focused in the sporting goods market, and the chief executive of Frasers Group Plc (formerly Sports Direct International). In his statement, Ashley stated "I have listened to you. News Group Newspapers Limited in England No. Now, the retail entrepreneur has his own family.. Ashley's ownership of the club was initially popular with fans, despite press scorn for his unconventional approach, by installing Chris Mort as chairman to run the club while Ashley acted as one of the fans, drinking in local bars and clubs, and watched the team from the stands with the supporters wearing the team shirt. Shes more of a party girl enjoying holidays on chartered yachts in the Mediterranean and jaunts to St Tropez, Miami and Magaluf with a close-knit group of friends. Mike is also a keen gambler. In its last financial year, Sports Direct earned profits of 10.3m from the buying and selling of property. [65], On 17 November 2022, Ashley bought the CBS arena, Coventry City's stadium, in an attempt to save the football club from debts. Visit Website. [26] On 7 June, it was confirmed that chairman Freddy Shepherd had agreed to sell his 28% share to Ashley, which left Ashley free to take control of the club. 'Our story is one of hope': Conjoined twins who made history as first EVER pair survive to separation As Charles Bronson faces a parole hearing on Monday Will Britain's most violent prisoner soon be painting Is this Britain's most despicable man? Mike made headlines in 2008 after a wild party at a New York nightclub saw him spend 125,000 on alcohol, including 450 bottles of champagne and a 30,000 tip. Published: 02:01 GMT, 12 November 2016 | Updated: 09:43 GMT, 13 November 2016. The company controls 443m of property, plant and equipment. Security is so tight the fortress can only be seen from the sea. He also bought Newcastle United but many fans are not keen on him. How Prince Harry's chat with guru who compared Hamas terrorists to Jews who battled the Nazis has appalled JAN MOIR: Goodbye Ken, the world always seemed safer with you on the airwaves, Abstaining from masturbating RAISES risk of anxiety, depression and erectile dysfunction, study warns. He has amassed an enormous retail . He is known to prefer casual dress of shirt and chinos or a track suit rather than a suit, and often carries his essential business tool of a mobile phone in a plastic carrier bag rather than a briefcase. In addition, Murrays former home in Chelsea is now owned by Matilda Ashley, the tycoons youngest daughter, who paid 5.1m for the property in September. The financial reporting watchdog noted that there was no discussion of Sports Directs international stores, which are a significant part of its business. While their father is known to shun expensive suits for his scruffy jeans, untucked shirts his daughters are just as glamourous as their mother. The company has suspended its planned share buyback until further notice. Mrs Ashley told a luxury lifestyle magazine: 'We've had a few good parties here. In that time, he and Linda who wed in her native Sweden in 1989 have been married for 14 years, separated for 14 more and are now said to have rekindled their relationship. Ashley said: The last six months have been tough for our people and performance. We are no longer accepting comments on this article. Glamorous: Mrs Ashley is an interior designer from Sweden and the couple are believed to have married in Gothenburg in the late 1980s. Sports Direct, which has 400 stores across the country, said the primary task for the property team was to find new sites for its larger format stores and its combined retail and gym units. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. On 2 October 2009, a Premier League arbitration panel found the club guilty of "constructive dismissal" and Mike Ashley was made to pay Kevin Keegan 2,000,000 compensation plus interest for his mistreatment during the time at the club. Hellawell said the directors accepted responsibility for our shortcomings, but there has also been disproportionate, inaccurate and misleading commentary. However, by paying Murray as a consultant and not directly employing him, Sports Direct does not have to make the same financial and regulatory disclosures. This caused fierce local rivals Sunderland to publicly refuse to give Ashley permission to wear it in the Stadium of Light corporate box for the TyneWear derby on 10 November. Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, Mike Murray given 250m war chest to 'create value'in property consultancy role, Find your bookmarks in your Independent Premium section, under my profile. Party girl Matilda, 19,set up cosmetics firm Sport FX. Murray is a director at Mash Services, a new vehicle linked to Ashleys main company Mash Holdings, as well as McGrove Developments, Ashleys new property group, and Strawberry Place Newcastle Limited, which owns land next to Newcastle Uniteds football stadium and plans to develop offices, student homes and a hotel. Along the way, Mr Ashley has been dogged with controversy particularly over allegedly 'Dickensian' working conditions at the company's main warehouse in Shirebrook, Nottinghamshire. Also on Thursday, the FRC wrapped up an earlier investigation into Sports Direct, which probed why the firm failed to discuss the development and performance of the firm's international stores in its last Annual Report. Matilda, Anna and Oliver, from 1998 to 2003. Mom who lost both sons to fentanyl blasts laughing Biden, Missing hiker buried under snow forces arm out to wave to helicopter, Pavement where disabled woman gestured at cyclist before fatal crash, Isabel Oakeshott receives 'menacing' message from Matt Hancock, Pro-Ukrainian drone lands on Russian spy planes exposing location, 'Buster is next!' He entered the department store industry following the acquisition of House of Fraser post-administration in 2018. as well as other partner offers and accept our, NOW WATCH: It took 2 cranes to lift the 41-tonne plane that skidded off an icy runway in Turkey, The Financial Reporting Council (FRC) has since announced that it is investigating, Ashley was also forced to defend himself in January. Sports Direct founder Mike Ashley outside its headquarters in Shirebrook, Derbyshire. But sums like this are small change to Mike, 52 as he showed when he pulled wads of crumpled 50 notes from his pockets during a recent Sports Direct warehouse tour, just months after the company was condemned for subjecting staff to gulag-style conditions, fining latecomers and paying less than the minimum wage. One theory in City circles is that Mr Ashley is grooming Murray to take over the whole company. It is understood the company does not have to disclose Mr Murray's appointment or family ties as he was not appointed to the Sports Direct. Have we let energy giants make too much profit? ', Close: Mr and Mrs Ashley were married for around 14 years - there was around 12 years when they were not together but it appears they are going strong again, Sports Direct billionaire Mike Ashley's daughter Anna, left, has been dating Michael Murray since 2011 - he has been handed a plum role with Mr Ashley's sports company, Mr Ashley's youngest child Matilda'ssocial media profiles are full of glamorous selfies, left, she owns a Chelsea house bought for 5million - her brother Oliver works in radio rather than for the family business. So, Mike Ashley, can we handle the truth? A former friend says Linda would have a big party for her birthday every year. An apparent anomaly with the fans was Ashley choosing 'Smith 17' as the number of his shirt, after a squad player Alan Smith he admired and 17 being a lucky number for him. The reputational damage caused to the company is entirely of Mike Ashleys own making. The arrangement is the latest in a string of deals involving Ashley's family members. It is not clear from whom she bought the property, but her sister Anna and Murray lived there last year. But it has come under mounting criticism from unions, politicians and shareholders. Lindas company, Current Design and Build, went into liquidation last year leaving her with even more time for swish shopping sprees. 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After their divorce interior designer Mrs Ashley, who is mother of the billionaire's three children, went on to have a relationship with businessman Simon Brodin, an ex-boyfriend of S Club 7 pop star Rachel Stevens, and had a son, Tyler, now 12, by him. As they rekindle their relationship (they were spotted back together in 2011), the Ashleys have downsized: Linda sold the old family home and put her other house on the market last year. But Sports Direct has had lots of chances to get its house in order and is paying the price today for failing to really overhaul its corporate governance. The Financial Reporting Council said it had discussed certain issues with the company following its review of the 2015 annual report and accounts. Mr Ashley's 33-room pillared mansion down the road in London's Beverly Hills has a sweeping drive, four garages and its near-neighbours are said to include Arsene Wenger and several members of One Direction. By Neil Craven, Financial Mail on Sunday. Following Derek Llambias' resignation as managing director in 2013,[48] Ashley briefly took on his position whilst trying to find a replacement. Kinnear however suffered heart trouble the following month and was given leave by the club to recover. Sports Direct tycoon Mike Ashley has pledged financial support for his daughter's cosmetics company following its fifth consecutive year of losses. Mike Murray, who is in a relationship with Mr Ashleys eldest daughter, Anna, has to find new sites for Sports Direct and locations for the companys chain of gyms, which have stores attached. Murray bought a property in Belgravia for 10.75m in June 2013 with Ashley lending him money for the deal. Friends say Ashley adores her and always has. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. In winter, the Ashleys are spoilt for choice. Retro football shirt fever has exploded, says LEE BOYCE: Is it a fightback from fans over expensive replica kits? But in 2014 Mrs and Mrs Ashley were seen stepping into his Bentley after a series of central London dates, including a key dinner in a local curry house. [37] In the following weeks, after an apparently unsuccessful trip to the Middle East to reportedly solicit potential buyers, Ashley later instructed a London law firm to handle the sale of the club. The waitresses were amazed when he ordered 100 bottles of Cristal and proceeded to hand them out to clubbers and spray them over his friends, an onlooker remembered. Even the Ashleys animals get the luxury treatment. On 28 December, Ashley announced that the club was no longer up for sale, after he had failed to find an acceptable buyer. He was formerly the owner of Newcastle United football club . [28] 100% acquisition was achieved in July with Ashley paying a total of around 134million to buy the club. After considering a takeover, Ashley took a 9million stake and signed a long-term deal with Umbro. Mr Ashley started Sports Direct 34 years ago with a 10,000 loan from his parents. As his wealth exploded their lifestyles are said to have become polar opposites. The most opulent of the couple's four Spanish properties is a 9.7 million clifftop villa in the swanky resort of Port dAndratx, Majorca. Sports Direct chairman Keith Hellawell blamed an "extreme political, union and media campaign" for the profit slump, saying it has "damaged its reputation and influenced our customers." [59], On 7 October 2021, Mike Ashley sold Newcastle United for 300 million to a consortium involving PCP Capital Partners, RB Sports & Media, and Public Investment Fund of Saudi Arabia. In February 2003, Ashley bought the Dunlop Slazenger brand for 40million, followed up by acquiring outdoor gear manufacturer Karrimor in March 2003,[13] Kangol for 10million,[14] boxing brand Lonsdale, most of these brands were bought from distressed sellers. They previously lived at a mews house in Chelsea, which was sold for 5.7million in cash in September to Miss Ashley's 19-year-old sister Matilda. A Newcastle United statement declared that Ashley had been given the beer and told that it was non-alcoholic despite the fact that Arsenal do not sell non-alcoholic beer at their stadium. He was formerly the owner of Newcastle United football club, having bought it for 135million in 2007 until selling the club in October 2021. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Mike Ashley and daughter Anna celebrate a Newcastle United goal, Anna with fiance Michael Murray, who is set to become Frasers Group chief exec, Mike Ashley shuts down Newcastle club shop and makes all staff redundant, Headteacher sacked 'after sending parents a list of striking teachers' as school launches probe, Isle of Innisfree ferry: Blaze breaks out on boat carrying 183 people in English Channel as lifeboats scramble to scene. The Ashleys love to celebrate their vast wealth, and during their marriage were known for hosting parties at the family home. You want me out. According to friends, he enjoys sports, eating at Nandos and watching football, including Newcastle United, which is owned by Mr Ashley. He entered the department store industry following the acquisition of House of Fraser post-administration in 2018. Mike will put a further 20m into the club this week. The retailer said its profit margins had been hit by the pounds sharp decline since the Brexit vote. The neighbourhood wasnt bad: David and Victoria Beckham owned one of the nearby estates. The company included information about stores in Austria and the Baltic states in Thursdays results and the FRC said its inquiries had been concluded. [46][47] Alan Pardew was appointed three days later, before his first game in charge against Liverpool. Murrays remuneration is based solely on creating value, Sports Direct said. Meanwhile, Anna's younger sister, Matilda, is listed as a director of a beauty business and until recently lived in a rented four-bed mews house in London's Chelsea. The retailer has a deal with a delivery company called Barlin, which is 100% owned by Mike Ashleys brother John. [10], At present[when?] Shareholders were outraged by the apparent nepotism which some said could see Michael earning as much as 2.5 million a year. Prince Andrew has 'offered to manage prestigious Royal estates including Balmoral but King Charles has told PLATELL'S PEOPLE: Yes, Madonna toyboys are fun but not if you value your dignity. The couple previously lived in a nearby three-storey mews house, which was bought by Mr Ashley's youngest daughter, Matilda, for 5.1m four months ago. The business became a limited liability company in 1999. [11] In mid-2006, it was also revealed that Ashley had held talks with John Hargreaves, founder of Matalan on both taking a 25% stake in the retail business and installing mezzanine floors in larger Matalan stores, on which Sports World outlets could be operated. joining the board as a non-executive director and joining the company's audit committee. Mrs Ashley's mansion appears to be on the market at the moment - and some newspapers have suggested that Mr and Mrs Ashley could marry again. That helps us fund This Is Money, and keep it free to use. ", Sports Direct says in Thursday's update that the deal was done "under market terms and makes good commercial sense.". 'Mike Ashley is only 51 and will have no desire to step down for a long time,' said one City insider. At any other FTSE 100 company, this would not be tolerated. How remorseless Stephen Bear continued his arrogant antics up until Martin Robinson, Uk Chief Reporter For Mailonline, Do not sell or share my personal information. Murray is the boyfriend of Anna Ashley, the tycoons eldest daughter. Earlier this year the Mail reported the company of which she is director, Century Design and Build, is in liquidation after a High Court order to wind it up. Sports Direct's trophy assets include the prestigious Lillywhites sportswear emporium at Piccadilly Circus, and world-famous brands including Dunlop, Everlast and Slazenger.
Ashley's popularity increased further with the return of Kevin Keegan as manager on 16 January 2008,[30] to replace the previous regime's relatively unpopular choice Sam Allardyce. Neil Craven, Financial Mail on Sunday
It is unclear exactly when Murray began working for her father. WHEN Mike Ashley met his wife, Linda, a swedish-born economics graduate, in 1986, he was a lowly squash coach working in a sports shop in Maidenhead. The main issue was whether the retailers strategic report complied with the Companies Act 2006 requirement to be balanced and comprehensive. Sporting a mahogany tan and freshly cut bouffant blonde hair, she wore diamond jewellery and showed off toned legs in a short white dress and laced ankle boots. Matilda Ashley's make-up range SportFX was launched last year with the help of reality-TV celebrities, such as Made in Chelsea's Louise Thompson His daughter Matilda's make-up business,. And, despite his high profile, little is known about one of the most colourful tycoons of our age. 6195 Coliseum Way, Oakland, CA 94621. Original reporting and incisive analysis, direct from the Guardian every morning. Its now thought to be worth 25 million. [56], Mike Ashley has since been engaged in various legal battles with the Premier League,[57][58] after Newcastle United released a statement saying that "the club and its owners do not accept that Premier League chief executive Richard Masters and the Premier League have acted appropriately" in relation to their conducting of the Owners' and Directors' Test. City watchdog launches enforcement probe into London Metal Exchange after embattled bourse's controversial IMI revenues exceed 2bn as FTSE 250 manufacturer is lifted by growth in precision engineering division. The regulator is also investigating the accountancy firm Grant Thornton over its failure to report a deal that Sports Direct struck with Barlin Delivery. Were mortgage rates below 4% a flash in the pan? admitting the company has become too big for him to control solely. Mom who lost both sons to fentanyl blasts laughing Biden, Missing hiker buried under snow forces arm out to wave to helicopter, Pavement where disabled woman gestured at cyclist before fatal crash, Isabel Oakeshott receives 'menacing' message from Matt Hancock, Pro-Ukrainian drone lands on Russian spy planes exposing location, 'Buster is next!' EXCLUSIVE: Head teacher of leading grammar school is sacked for sending parents a list of striking teachers. [21] Neither Ashley nor his representatives showed interest in taking part in the film, declaring that the film was producing a majority of inaccuracies. As part of the original flotation agreement, each key senior management team would receive the same bonus and pay while employed by Sports Direct. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. [68] In June 2019, The Times reported that Ashley placed a 52 million bid to buy the company. For a period he was unable to take his family to matches for fear of abuse. He built it up from a single shop in Maidenhead, Berkshire, into one of the nation's most successful retailers and holds a 55 per cent stake in the company, currently valued at around 1.4 billion. Mike Ashley's unforgiving approach to business has made him a billionaire - but his generosity knows no bounds when it comes to his family, especially his ex-wife. [70] The group initially bought 46 leisure clubs and 31 retail outlets from DW Sports Fitness for 37 million to merge with its own business. Michael James Wallace Ashley (born 9 September 1964) is a British billionaire retail entrepreneur focused in the sporting goods market, and the chief executive of Frasers Group Plc (formerly Sports Direct International). [42] The club released future plans in the same statement, announcing the club would attempt to sell the club's stadium naming rights to raise funds to clear debts of the club, causing outrage among Newcastle fans across the world who felt the club would lose tremendous heritage with the name of St James' Park changed.