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[67], Ashley's Sports Direct firm has a 38.5% stake in retailer Game Digital. The company already has its own helicopter, a fleet of vehicles and also owns an inn in Worksop. 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. The most opulent is a 9.7 million clifftop villa in the swanky resort of Port dAndratx, Majorca, frequented by celebrities with superyachts and off-duty oligarchs. The retailer has a deal with a delivery company called Barlin, which is 100% owned by Mike Ashleys brother John. Sports Direct said in a stock market statement that Murray would not be paid a salary; instead, the 26-year-old has a consultancy arrangement with the company. 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. Even worse, many such slurs aren't from men but 'I couldn't do it without you': Victoria Beckham poses with her whole family after her PFW show - as she Brooklyn Beckham puts on a loved-up display with wife Nicola Peltz as they head back to hotel after Cruz Beckham supports his mother Victoria as he carrying his very own VB handbag on the way to her show Like father, like daughter! [68], In February 2020, Ashley bought a 12.5 per cent stake in Mulberry, said by a business journalist for The Times to be worth around 19 million. And after a 12-year break it is also confirmation they are back together - but despite the rekindled romance MailOnline understands they still live in separate mansions just a mile apart. When the daily grind gets too much, the Ashleys have not one but four Spanish hideaways in which to sip sangria. The companys non-executive directors will oversee an independent review every year to decide with their absolute discretion how much he should be paid. Her billionaire father also clearly has a soft spot for her partner, and has taken the role of indulgent 'father-in-law' to a new level, by giving Murray a key consultancy role on a new 250 million property arm within his sportswear empire. The couple own a lavish 32million eight-bedroom mansion in Miami Beach, Florida, located in a gated community on La Gorce Island. She spent another 2 million buying the cottage next door, which acts as a gatehouse to the property, now worth 20 million. It needs a board that is capable of standing up to him so that the normal checks and balances that apply to most companies are in place.. The billionaire does not even have his own office but holds court from a desk in the middle of an open-plan office, where he sits until around 2am on some days. He said at the time: 'I'm a dad who can't take his kids to a football game on a Saturday because I'm advised we would be assaulted. On 26 July 2017, Mr Justice Leggatt ruled that Ashley won a high court battle over investment banker Jeffrey Blue's allegation that during a "night of heavy drinking" at the Horse and Groom pub in London, Ashley agreed to pay Blue 15 million if Sport Direct's shares doubled to 8. Sports Direct boss Mike Ashley has a person fortune topping 2.4billion Thirty years ago he was a squash coach who worked in a sports shop Ashley is said to have recently rekindled his. Me and Mike are working like a partnership.". Are investors underestimating the impact of rate rises? Founder Mike Ashley says past six months have been tough but retailer spends 40m on corporate jet. Original reporting and incisive analysis, direct from the Guardian every morning. But as the retail tycoon prepares to hand over the reins to his daughter's fiance Michael Murray, here is what we know about him and Anna. Mr Ashley started Sports Direct 34 years ago with a 10,000 loan from his parents. Michael isn't on the payroll but has taken home more than 15million in fees in the last four years. The 20million property has a bowling alley, home cinema decorated with life-sized Oscar statues, a golf course, a swimming pool and staff cottages. Visit Website. 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. Corporate governance watchdogs criticised Sports Direct, the sporting retailer controlled by Ashley, after the retailer revealed that Michael Murray would lead its UK and international property team. The company has appointed investment banker David Brayshaw as a non-executive director. ET): Project Mondo G is a Mercedes G-Wagen in a puffer jacket, New Honda's Civic: family car with rebellious bad boy in its line-up, Advert for the 1998 first generation of the Audi TT, Ford scrapping 1,300 jobs in UK amid European overhaul. The Financial Reporting Council (FRC) has since announced that it is investigating Sports Direct's auditors for failing to disclose the arrangement as a "related party. He has amassed an enormous retail . Retail tycoon Mike Ashley, who founded Sports Direct in 1982, is getting ready to step down from his roll of boss. Ashley appeared to have saved the club from certain financial ruin by paying off large sums of debt inherited from the previous regime,[29] although he was criticised for not doing due diligence when buying the club, as he subsequently revealed he had been unaware of issues such as the upfront payment of club finances such as the Northern Rock sponsorship, and the presence of outstanding liabilities for long past player transfers. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. [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. Mike will put a further 20m into the club this week. Oliver Parry, senior corporate governance adviser at the IoD, said: Although it is ultimately up to each individual company to determine who they appoint to executive roles, shareholders will rightly be concerned about the appointment process surrounding Michael Murray, as well as how he will be remunerated. 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. On 31 January 2010, the BBC North East and Cumbria produced a 30-minute documentary detailing Mike Ashley's business successes and lows. The group has also struck a deal with beauty company Double Take run by Mr Ashley's youngest daughter Matilda, 20, which could bag her millions. Linda moved Simon, currently director of five businesses including a textile wholesaler and soft furnishings manufacturer, into her two Totteridge mansions and in 2004 the couple had a son, Tyler. According to friends, he enjoys sports, eating at Nandos and watching football, including Newcastle United, which is owned by Mr Ashley. This is not the first deal to involve members of Ashleys family. [62], In January 2015, Rangers fans protested against Mike Ashley's plans to secure a 10million loan using the club's stadium as security. He was also tasked with modernising the business and creating a more upmarket image. A friend said when they began dating again: 'Mike never wanted to lose Linda in the first place. Both properties are in Linda's name, as is a cliff-top home in Majorca. A gardener who works on another house next door to Mr Ashley's Barnet home said he sees the billionaire's helicopter fly over almost every Wednesday. In winter, the Ashleys are spoilt for choice. Doncaster-born Michael has been lined up to become chief executive in May next year. After their divorce, Linda kept the home and Mike moved into a 33-room pillared mansion down the road, bought in 2005 for 12 million. Now we step inside the breathtakingly extravagant world of the Flashy Ashleys . How long have Keir Starmer and Sue Gray been secretly cooking up their plot? He hired Merrill Lynch,[20] who initially valued the group at up to 2.5bn ahead of the flotation on the London Stock Exchange.[19]. He stated that he regretted buying Newcastle United, but admitted that he was "wedded" to the club. According to the Institute of Chartered Accountants in England and Wales, a person can be categorised as a de facto director if they are negotiating with third parties on behalf of the board. The following morning Keegan had a meeting at St. James Park with Wise and managing director Derek Llambias; it is unknown what exactly was said in the meeting, but witnesses saw Keegan storm out of the meeting claiming to be sacked. Nationwide hikes cost of home loans just weeks after cutting Thrills without frills: New five-seater MG5 EV all-electric estate designed with 'keep it simple' maxim in mind, SMALL CAP MOVERS: Baron Oil falls despite upbeat report; Accrol surges after kitchen towels deal with Unilever. If that wasnt enough, Linda also owns a lakeside home near Stockholm in Sweden. Among his fleet of expensive cars are a black Bentley, a BMW 7 Series and a champagne-coloured Aston Martin DB4 with cream interior, which he bought for Linda as a birthday present. Mike Ashley's company owns the rightsto SportFX for clothing, footwear and sports equipment. We are no longer accepting comments on this article. Frasers Group changed its name from Sports Direct International last year. 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. [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. Shaped to resemble a seagull's wing, the house has a 'party-cave' built on the site of a former disco. A former friend says Linda would have a big party for her birthday every year. In August, Sports Direct was found. He entered the department store industry following the acquisition of House of Fraser post-administration in 2018. To inquire about a licence to reproduce material, visit our Syndication site. The main issue was whether the retailers strategic report complied with the Companies Act 2006 requirement to be balanced and comprehensive. Murdaugh is heckled as he leaves court, Ken Bruce finishes his 30-year tenure as host of BBC Radio 2, Moment teenager crashes into back of lorry after 100mph police race, Alex Murdaugh unanimously found GUILTY of murder of wife and son, Isabel Oakeshott clashes with Nick Robinson over Hancock texts, Family of a 10-month-old baby filmed vaping open up, Ukrainian soldier takes out five tanks with Javelin missiles. Mikes other two properties are thought to be in Playa de las Americas, a lively resort in Tenerife, near the holiday retreats of Penelope Cruz, Jennifer Lopez and Mariah Carey. They did, however, state that they would be reviewing the film closely. [10], At present[when?] Considering the importance of Mr Murrays role to Sports Directs future, shareholders and other employees deserve to know more about this appointment.. A. He was formerly the owner of Newcastle United football club, having bought it for 135million in 2007 until selling the club in October 2021. Some links in this article may be affiliate links. In 2006, it overtook JJB Sports as the UK's largest sportswear retailer. His father, who worked for a food distribution company, handled the books, while his mother, a secretary, helped out behind the counter. Murray bought a property in Belgravia for 10.75m in June 2013 with Ashley lending him money for the deal. Oscar Cainer tells all. However, after the departure of Kevin Keegan as manager and the club's relegation, he has only made low key appearances when attending Newcastle matches. They've found their spark again. Its become custom for top-performing Sports Direct staff to be rewarded with a stay at the bosss chalets, complete with private chef, and Mike, a keen skier, likes to go along, too. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Matilda owns a second Chelsea mews house on an adjoining street, which she bought last September for 5.1 million in cash. The retailer said its profit margins had been hit by the pounds sharp decline since the Brexit vote. The famously reclusive billionaire has barely given an interview for a decade and never comments on his private life - but friends have previously claimed he could propose to his ex-wife again and had even lost weight after finding happiness with her again. 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. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Is commercial property a great value investing opportunity? For a period he was unable to take his family to matches for fear of abuse. 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. If I get married again, I'll marry here. In 1996, having expanded to 50 outlets, the firm was rebranded as Sports Soccer and acquired the Donnay brand. Ashley is the 59th richest person in Britain, and has an estimated fortune of 2.995billion, according to The Sunday Times Rich List. According to the Sunday Times Rich List, he is worth 2.7billion. Though the offices are based at a Grade II-listed building in Burnham, Matilda lives in Chelsea in a 5.1 million mews house that appears to be being renovated. Sports Direct chairman should face the final whistle | Nils Pratley. 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 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. [74], Ashley is protective of his private life. 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. Even the Ashleys animals get the luxury treatment. Mr Ashley was previously executive deputy chairman of the retail group - which changed its name from Sports Direct International to Frasers Group two years ago - until 2016, when long-serving. [8][9], The chain, funded by private money, expanded quickly and by the late 1990s Ashley had rebranded the chain as Sports Soccer and opened over 100 stores across the United Kingdom. Aware of her husbands love of football (he did spend 135 million buying Newcastle United), Mrs Ashley even arranged for a number of big screens to show Englands Euro 2016 match. According to reports, Matilda is also the proud owner of a top-of-the-range 130,000 horsebox, complete with DVD player, to transport horses she rides at a 800-a-month livery stables in. In its half-year profits update Sports Direct said the Barlin deal was entered into under market terms, and makes good commercial sense. Oscar Cainer tells all. Glamorous: Mrs Ashley is an interior designer from Sweden and the couple are believed to have married in Gothenburg in the late 1980s. Change? 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. '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? He used to work as a nightclub promotor before overseeing his future father-in-law's personal property portfolio. Mr Ashley once presenting his wife Linda with a stunning Aston Martin DB4. Guests arrived by yacht and chauffeured car, while caterers were seen ferrying supplies up the clifftop. Royalties and other fees may be paid to Double Take, but not until after 2019. Mrs Ashley has a lavish seven-bedroom house and two properties for staff boasting a further four bedrooms. For her 50th birthday in June, Linda spent 1 million on an opulent bash at her Majorcan mansion. Mike is stepping down from his role as boss and is gearing up to hand the reins over to his daughter's fiance, who is widely seen as his right hand man. 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. Having studied at a trendy London music school, Mikes son, Ollie, 26, works as a DJ, by the name of DJ Exotica. In addition, Murray's former home in Chelsea is now owned by Matilda Ashley, the tycoon's youngest daughter, who paid 5.1m for the property in September. The house, formerly owned by pop impresario Mickie Most, has four garages, a cinema and indoor and outdoor pools. Accompanying him to the business select committee meeting to face MPs questions about Sports Direct back in June, Mrs Ashley showed off her new polished look. He said: 'I'm here every Wednesday and I see his helicopter fly over most weeks. They had split up and then they got back together some years ago. Its said they rarely speak to their son, now the 45th richest man in Britain. Ashley is the owner of Newcastle United, a Premier League soccer team. Linda is reportedly trying to sell the house, which she bought after the divorce, to a Middle Eastern buyer but she has another, in nearby Cap Falco, should she crave some Spanish sun. [23], Ashley turned whistleblower on industry rivals in 2000, handing the Office of Fair Trading evidence of business meetings held by sports retailers to fix the price of football shirts. Sports Direct's senior executives live locally in a cluster of houses, worth around 400,000 each. (510) 292-4339. Since then the company has been forced to pay 1m in back pay to staff and offer more staff guaranteed working hours. The tanned 50-year-old, who bears a resemblance to fellow Swede Britt Ekland, marched down Whitehall in a white dress, sunglasses and heels to support the under-fire businessman. Derbyshire based group Sports Direct International Plc, with headquarters in Shirebrook, has over 400 UK stores including the chains Sports World, Lillywhites (acquired in 2002) and Gilesports. 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. The break-up cost him a reported 50million, and included their 'Millionaires Row' family mansion in north London, making it one of the most expensive divorces in British history. People used to crash out overnight on the sofas, she adds. Sports Direct tycoon Mike Ashley pledges financial support for daughter's cosmetics company following its fifth consecutive year of losses. Friends say Ashley adores her and always has. The company also pointed out that he is not listed as a director of any Sports Direct businesses, although he is a director of a handful of private businesses owned by Mr Ashley through his Mash web of companies. By [43] On 4 November, it was announced that Ashley's own company would sponsor the stadium, rebranding it the "sportsdirect.com @ St James' Park Stadium" until the end of the season.[44]. . Linda has always been stylish the couples wedding in Gothenburg was a sophisticated affair but as her husbands bank balance has risen, she has developed a taste for expensive designer clothes. 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. Revealed: how Sports Direct effectively pays below minimum wage, Original reporting and incisive analysis, direct from the Guardian every morning. admitting the company has become too big for him to control solely. Mr Justice Leggatt ruled that no-one would have thought that what Ashley said was serious. At Sports Direct, Mr Murray will be expected to help rebuild the companys prospects, which have been hit recently by poor results, as the retailer lost out to rivals including JD Sports, while an expansion into Austria has hit profits. Mike Ashley has three children - two daughters and one son - with ex-wife Linda. I've had enough of life': Grandmother, 86, is reduced to tears after killjoy Tory RICHARD LITTLEJOHN: As Florida governor and Donald Trump rival Ron DeSantis steps up his bid to win the Hairy Bikers star Dave Myers speaks out on his deep depression after chemotherapy which left him having 'How I snatched JK Rowling's baby out of her abusive husband's arms - and helped her flee with the Harry Top equestrian rider, 39, once known as the 'golden girl' of horse eventing, is facing jail after being A possum feared extinct is discovered by an amateur naturalist in Papa New Guinea being cooked on a Now California reparations panel RAISES amount it wants to give 1.8m black people from $220,000 to $360,000 My weekly horoscope: What will March 4th 2023 bring for MY star sign? The FRC said that Sports Direct had agreed to include more detailed commentary in future reports, and considered the matter "concluded.". Sports Direct, which has 400. 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. Yesterday, Sports Direct refused to. What is his net worth? 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. The lodge, which the children adored when they were young, was a gift from her parents. Facebook gives people the power to share and makes the world more. A 50m divorce and then a reunion. And, despite his high profile, little is known about one of the most colourful tycoons of our age. An undercover Guardian investigation last year exposed how Sports Direct workers were being paid less than the minimum wage.