The business became a limited liability company in 1999. Shares have recently hit two-and-a-half year lows and analysts have criticised Mr Ashleys use of the company, in which he has a 55 per cent stake, for making investments in other companies including Debenhams, Tesco, Direct Golf and Findel. 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. [19], In late November 2006, a number of business newspapers reported that Ashley was looking at an IPO of Sports World International. Please refresh the page or navigate to another page on the site to be automatically logged in, Please refresh your browser to be logged in, Read more Sports Direct has already scored its first own goal of the year, Boyfriend of Mike Ashley's daughter in line for Sports Direct millions, Extra 10% Nike discount code for students, 20% off selected items with this Footasylum discount code, 15% off when you sign up - New Balance newsletter discount, Extra 20% off selected fashion and sportswear at Very, Compare broadband packages side by side to find the best deal for you, Compare cheap broadband deals from providers with fastest speed in your area, All you need to know about fibre broadband, Best Apple iPhone Deals in the UK March 2023, Compare iPhone contract deals and get the best offer this March, Compare the best mobile phone deals from the top networks and brands. Ashley is the owner of Newcastle United, a Premier League soccer team. Mr Justice Leggatt ruled that no-one would have thought that what Ashley said was serious. Michael Murray, engaged to Mike Ashley's daughter Anna, is currently head of elevation at Frasers Group. [63] Some Rangers supporter groups heavily criticised Ashley and expressed major concern and distrust about his nature and purpose of his intentions. However, Murrays consultancy, MM Prop Consultancy Limited, was only set up on 17 December and is registered to the same address as Ashleys business interests. "[41] The move to withdraw the sale proved questionable among many as he had stated little more than a week before that he regretted the purchase of the club and felt he never had the required stance and knowledge to own a football club. [31], On 30 August 2008, Ashley was shown on live television drinking beer while with fans in the away stand during Newcastle's game against Arsenal in London, contravening Premier League licensing rules stating that alcohol may not be consumed in sight of the pitch. 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. The 26-year-old is still listed as a shareholder in a party promotion business, TM Bars Limited, which he set up with Mr Mullins. How much is Sports Direct supremo Mike Ashley worth? Ashley Furniture HomeStore. Even the Ashleys animals get the luxury treatment. Reunited:Sports Direct International founder Mike Ashley and his ex-wife Linda, who have rekindled their relationship after their 50million break-up in 2002, New life: Mrs Ashley, the mother of Mike Ashley's three adult children, had a son Tyler, pictured together in 2006, withSimon Brodin, an ex-boyfriend of S Club 7 pop star Rachel Stevens. Mike will put a further 20m into the club this week. To inquire about a licence to reproduce material, visit our Syndication site. [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. Sports Direct tycoon Mike Ashley has pledged financial support for his daughter's cosmetics company following its fifth consecutive year of losses. 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. The comments below have not been moderated. Sports Direct's senior executives live locally in a cluster of houses, worth around 400,000 each. He now lives with Miss Ashley in a flat in Chelsea, just a stones throw from Harrods and not far from where Mr Ashley made a 200m investment in John Lewiss former Peter Jones warehouse. The company owns SportFX's cosmetics brand. 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. Speaking on Radio 4s Today programme, Simon Walker, director general of the Institute of Directors, said the company was making changes, but that they did not go far enough. Mike Ashley has three children - two daughters and one son - with ex-wife Linda. Is commercial property a great value investing opportunity? This does not affect our editorial independence. On 4 September, Keegan resigned from the club following days of talks with the board of Newcastle United headed by Llambias. Mike owns two deluxe chalets in the Swiss resort of Verbier dubbed the worlds most exclusive ski resort, with regulars including Prince Harry and Princess Beatrice as well as a 32 million mansion in Miami. 10 miles. By 2006, Sports Direct had more than 150 outlets and owned major brands including Slazenger, Dunlop, Lonsdale, Carlton and Karrimor. [53] On 11 May 2016, Newcastle United were relegated for the second time under the ownership of Ashley, after local rivals Sunderland beat Everton 30. 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. Frasers Group changed its name from Sports Direct International last year. Hardly an auspicious start for a man whose personal fortune now tops 2.4 billion. Ashley was also forced to defend himself in January after he gave his daughter's boyfriend a 10 million loan on behalf of the company and a high-powered job managing property for Sports Direct. (510) 292-4339. 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. 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. Constance Marten seen leaving court after appearing before magistrates charged with manslaughter of baby, Constance Marten and Mark Gordon blow each other a kiss in dock before court hears dead baby was found in bag in shed, Mum identified after dead baby is found on Canford Heath, Independent Press Standards Organisation (IPSO). [38], In January 2009, it was reported that interim manager Joe Kinnear had been offered a full-time position at the club by Ashley. In June he told a Parliamentary select committee that some of his workers were effectively paid less than the minimum wage because they were held back and searched after their shifts. Shareholders were outraged by the apparent nepotism which some said could see Michael earning as much as 2.5 million a year. 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. 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. joining the board as a non-executive director and joining the company's audit committee. 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. 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. [46][47] Alan Pardew was appointed three days later, before his first game in charge against Liverpool. The main issue was whether the retailers strategic report complied with the Companies Act 2006 requirement to be balanced and comprehensive. Journalist Chris Jackson travelled to Thailand to visit the factories in which Ashley's material for his brand of Lonsdale is made. Interest also mounted around the feasibility of a fan buyout of the club, seeing the launch of the Newcastle Fans United group. By He stated that he would sell up, but only when the club had won a trophy, quickly reiterating that qualifying for the Champions League would also count. 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 the Sunday Times Rich List, he is worth 2.7billion. Get directions, reviews and information for Direct Stone Importers in San Leandro, CA. After their 2003 divorce, Linda started a relationship with Simon Brodin, 44, a wealthy London businessman whose past girlfriends include a string of pop stars. 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. The 20million property has a bowling alley, home cinema decorated with life-sized Oscar statues, a golf course, a swimming pool and staff cottages. Matilda is Ashley's youngest daughter. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Its said they rarely speak to their son, now the 45th richest man in Britain. His eldest, Anna, is a property developer who also sits on the board of her dad's company Frasers Group - parent of Sports Direct, House of Fraser, Flannels, and other retail brands. His remuneration is based solely on creating value, with the companys non-executive directors overseeing an independent review annually and deciding, in their absolute discretion, how much of any increased value (up to a maximum of 25 per cent) shall be paid to Michael.. Estate agent records show the home was let out in March for 3,250 a week. Michael isn't on the payroll but has taken home more than 15million in fees in the last four years. And its proud founder was raking in the profits. Ashley subsequently "received words of advice" from the police during the game. Ashley said his long term ambition for Sports Direct was to become the Selfridges of sports retail. Birthday: September 9, 1964 ( Virgo) Born In: Burnham 7 5 Business People #328 Quick Facts British Celebrities Born In September Also Known As: Michael James Wallace Mike Ashley Age: 58 Years, 58 Year Old Males Family: Spouse/Ex-: Linda Ashley siblings: John Ashley children: Anna Ashley, Matilda Ashley, Oliver Ashley British Men Virgo Entrepreneurs At the meeting Dave Whelan, the founder of JJB Sports, reportedly told Ashley: "There's a club in the north, son, and you're not part of it."[24]. . If I get married again, I'll marry here. The Equicruiser Super Luxury 7.5T sleeps six, has its own kitchen, TV and DVD player and enough room for two animals to travel. Ricky's Sports Theatre and Grill owner Ricky Ricardo, who knew late Oakland Raiders owner Al Davis, walks around his bar in San Leandro, Calif., on Saturday, Oct. 8, 2011. 21:51 GMT 24 Jul 2021 [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. Mr Ashley has another daughter, Matilda, aged 20. We are no longer accepting comments on this article. [65], On 17 November 2022, Ashley bought the CBS arena, Coventry City's stadium, in an attempt to save the football club from debts. Demand for English language and upskilling courses set to continue boosting education publisher Pearson sales as Mother-of-two is fined 100 for overstaying 15-minute limit as she queued up for a car wash - an hour after Rightmove shrugs off housing market blues with dividend hike as profits near 200m despite slowdown, Taxi driver gets 60 parking fine after stopping outside McDonald's for 47 seconds to pick up a customer. For a period he was unable to take his family to matches for fear of abuse. Both properties are in Linda's name, as is a cliff-top home in Majorca.