Newcastle United owner Ashley faces probe


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Newcastle United owner Ashley faces probe
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Figs Offline

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Newcastle United owner Ashley faces probe

Mike Ashley, the owner of Premier League football club Newcastle United, will come under the scrutiny of the Competition Authority as it investigates the proposed takeover of Champion Sports by a British rival. Ashley is a 12 per cent shareholder in JD Sports, which said last week that it planned to buy Champion’s 23 shops in a debt deal worth €17.1 million.

However, the Newcastle owner is also a major shareholder in Heatons, which competes directly with Champion through its Sports World outlets.

A spokeswoman for the Competition Authority confirmed that Ashley’s various shareholdings would be examined as part of the authority investigation into the proposed deal. It started its phase one investigation last Tuesday and interested parties have until February 4 to make submissions to the authority.

If the authority finds the deal raises competition issues, it may block it or attach conditions, such as instructing that shops be sold in areas where there is an overlap. JD Sports already has eight shops in the Republic, while Champion has 22 in the Republic and one in the North. Its main rivals include Lifestyle Sports, Elverys and Heatons’ Sports World.

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31st January 2011 10:24 AM
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something_witty Offline

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RE: Newcastle United owner Ashley faces probe

I don't think you can buy sports goods in this country without the money going to either Mike Ashley or Dave Whelan
31st January 2011 10:28 AM
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The Lewis Offline

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RE: Newcastle United owner Ashley faces probe

It's mostly Ashley now
31st January 2011 10:31 AM
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Figs Offline

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RE: Newcastle United owner Ashley faces probe

Indeed give him 6 months and he will buy out JJB Sports as well.

But its great having all this money but wont spend a fucking penny towards Newcastle United..
31st January 2011 10:34 AM
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The Lewis Offline

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RE: Newcastle United owner Ashley faces probe

He already has JJB, thats why the Wigan ground is known as the DW Stadium and Whelan's shops are known as DW Stores
31st January 2011 10:45 AM
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something_witty Offline

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RE: Newcastle United owner Ashley faces probe

(31st January 2011 10:34 AM)Figs Wrote: Guests cannot see links in the messages. Please register to forum by clicking here to see links.Indeed give him 6 months and he will buy out JJB Sports as well.

But its great having all this money but wont spend a fucking penny towards Newcastle United..

to be fair that report said it was going to be an LBO
31st January 2011 10:53 AM
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