Having studied at a trendy London music school, Mikes son, Ollie, 26, works as a DJ, by the name of DJ Exotica. This, too, was conveniently (if a little bizarrely) located on the same road as the family home and Mikes pad in leafy North London, where neighbours include Arsenal manager Arsene Wenger and members of boyband One Direction. Michael Murray to lead UK and international property team of the controversial sporting retail company. 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. 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. . In August, Sports Direct was found. 10 miles. Shareholders were outraged by the apparent nepotism which some said could see Michael earning as much as 2.5 million a year. The house appears to be on the market at the moment - and some newspapers have suggested that Mr and Mrs Ashley could marry again. 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. The maximum Murray can be paid is 25% of the increased value. Market Report: Sports World owner grabs stake in John David, "Personal finance How to grow your wealth and spend less money", "Mike Ashley wins high court battle over '15m pub deal', "Sports Direct U-turns on opening after backlash", "Billionaire Ashley launches Newcastle takeover", "Premier League side Newcastle re-appoint Kevin Keegan as their new manager", "Premier League Magpies warned after Keegan exit", "Newcastle United ordered to pay Kevin Keegan 2million in damages", "Boss Chris Hughton sacked by Newcastle United", "Chris Hughton not treated 'decently' by Mike Ashley Lord Alan Sugar", "Derek Llambias resigns as managing director of Newcastle United", "Lee Charnley Appointed Managing Director", "Who is Lee Charnley? While Murray, a former nightclub promoter, is undoubtedly chuffed with his new role, where it is estimated he could earn as much as 2.5 million a year, this apparently blatant nepotism is unnerving some Sports Direct shareholders. Feeling flush after the divorce, Linda spent 6 million building another house in 2006: a seven-bedroom abode with a cinema, gym, spa, sauna, bowling alley and golf course out the back. Double Take a cosmetics company owned by Mike Ashley and where 20-year-old Matilda Ashley is a director is licensing the rights to a beauty brand called Sports FX to Sports Direct. [46][47] Alan Pardew was appointed three days later, before his first game in charge against Liverpool. A leg-up from Mike Ashley for daughter's beauty firm Even the Ashleys animals get the luxury treatment. [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. [55] However, on 30 July 2020 the consortium pulled out of the buying process, citing the prolonged delay from the Premier League to communicate a decision as causing their acquisition of Newcastle United to become untenable. [60], In October 2014, Ashley owned an 8.92% stake in Rangers International Football Club (RIFC), the parent company of Scottish football club Rangers. [15][16], Ashley has a 29.4% stake in Blacks Leisure Group, the owner of Millets and Mambo,[17] and is thought to hold stakes in JJB Sports and 19% of JD Sports. 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. Mike Ashley: The hard man of retail likes to keep it in the family Sports Direct declined to clarify how it would measure the value added, but Murray could earn millions of pounds if it uses the profits it banks from property every year. 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's interim report also revealed a 57% slump in half-year profits to 71.6 million, despite a 14.2% rise in revenue to 1.63 billion. MIKE Ashley's retail empire extends beyond Sports Direct. 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. Glamorous: Mrs Ashley is an interior designer from Sweden and the couple are believed to have married in Gothenburg in the late 1980s. Ashley subsequently "received words of advice" from the police during the game. Mr Murray also hosted his first music festival last July with his business partner and friend from university, Toby Mullins. New Sports Direct property boss is ex-nightclub promoter - The Telegraph Part of the Daily Mail, The Mail on Sunday & Metro Media Group. Mr Ashley started Sports Direct 34 years ago with a 10,000 loan from his parents. Shaped to resemble a seagull's wing, the house has a 'party-cave' built on the site of a former disco. This is a reflection on what happens when a company lets its governance systems collapse., The IoDs Walker said: The problem with Sports Direct is fundamentally [chief executive] Mike Ashley, who owns more than half the company and is totally dominant. [33] Keegan drove to Manchester to consult with the League Managers Association chief-executive Richard Bevan; while in this meeting it is thought Ashley found out from Llambias of the row and attempted to contact Keegan. Ricky's is a well known . Hardly an auspicious start for a man whose personal fortune now tops 2.4 billion. [54], On 14 April 2020, it emerged that a request to undertake the Premier League's Owners' and Directors' Test had been filed by a consortium consisting of PCP Capital Partners, Reuben Brothers and the Public Investment Fund of Saudi Arabia (PIF), as the final stage of their 300m bid to purchase ownership of Newcastle United from Mike Ashley. However, there is a limit to his frugality: Mr Ashley has a helicopter to fly between his mansion and the office. He has amassed an enormous retail . The company has suspended its planned share buyback until further notice. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. 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. The company included information about stores in Austria and the Baltic states in Thursdays results and the FRC said its inquiries had been concluded. A spokesman for the Ashley family did not comment last night. She is engaged to Michael Murray after reportedly meeting him on holiday in Majorca in 2011. Under the terms of UK takeover law, having purchased more than 30% of a listed company, he was obliged to make an offer to buy the remaining shares at the same or a greater price. [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. 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. His own son, Ollie, is said to have done a short stint of work at Sports Direct. Join Facebook to connect with Matilda Ashley and others you may know. 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. Lee Charnley was quietly announced as his successor in 2014. On 6 December, Newcastle United sacked manager Chris Hughton, in a controversial move that proved to be unpopular with many fans of the club,[45] and led to Ashley being personally criticised for the decision. Ashley HomeStore - East Bay Bridge. [18] "He likes to park his tanks on people's lawns", said one banker. Murrays remuneration is based solely on creating value, Sports Direct said. Security is so tight the fortress can only be seen from the sea. Oscar Cainer tells all. Founder Mike Ashley says past six months have been tough but retailer spends 40m on corporate jet. She is also a director of a string of companies under the Current Design name, which are listed as liquidated or dissolved at Companies House. Its parked at a stables in Radlett, Hertfordshire, where insiders say Matilda or, more likely, her dad pays between 800 and 900 a month for her horse to be mucked out. At any other FTSE 100 company, this would not be tolerated.
During that time he has hoovered up dozens of . 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. BILLIONAIRE Mike Ashley is the man behind Sports Direct and a host of other brands. 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." Mrs Ashley told a luxury lifestyle magazine: 'We've had a few good parties here. So, Mike Ashley, can we handle the truth? The company said in an announcement to the stock exchange: "The group's elevation strategy is transforming the business and receiving positive feedback from consumers and our brand partners, especially on projects such as the new Oxford Street Sports Direct which opened in June 2021. 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 Ashley, pictured outside Sports Direct HQ in Derbyshire, received help from his parents to buy his first shop. One photo shows her surrounded by shirtless young men at an event organised by Sintillate an exclusive party company operating in the UK, Majorca, Ibiza and Marbella. But of late hes sought refuge further afield, flying to Florida to relax in his eight-bedroomed sprawling villa, located in a gated community on La Gorce Island, an A-list haven with private docks and an on-site country club that was previously home to the singer Cher. The regulator is also investigating the accountancy firm Grant Thornton over its failure to report a deal that Sports Direct struck with Barlin Delivery. We are no longer accepting comments on this article. It is unclear exactly when Murray began working for her father. The couple have recently got back together after splitting in 2003. She appears to have a similar sense of humour to her gruff father, beibg photographed recently in a pink frock accessorised with a sash saying 'Miss F***ing World'. The reputational damage caused to the company is entirely of Mike Ashleys own making. 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). Sprawling home where JonBenet Ramsey was found murdered in 1996 is listed for sale for $7 MILLION by current Royal Mail increase price of first class stamp by 15p to 1.10 in record-breaking hike. In winter, the Ashleys are spoilt for choice. Doncaster-born Michael has been lined up to become chief executive in May next year. We are no longer accepting comments on this article. Few, however, have managed it with quite such aplomb as Murray, 26, who has been dating Anna since 2011. [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. LONDON Sports Direct is buying a 40 million corporate plane and doing a makeup deal with Mike Ashley's daughter, its half-year report reveals. To see all content on The Sun, please use the Site Map. John Ashley received an annual 150,000 salary . Its now thought to be worth 25 million. As a sole trader and not having to file accounts at Companies House, little was known about him. The company has appointed investment banker David Brayshaw as a non-executive director. Sprawling home where JonBenet Ramsey was found murdered in 1996 is listed for sale for $7 MILLION by current Royal Mail increase price of first class stamp by 15p to 1.10 in record-breaking hike. On 4 September, Keegan resigned from the club following days of talks with the board of Newcastle United headed by Llambias. 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. 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. Listed on Forbes as Britain's 20th richest and the world's 782nd richest man in 2017. Original reporting and incisive analysis, direct from the Guardian every morning. 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). Much like Petra and Tamara Ecclestone, the cosseted daughters of Formula 1 boss Bernie, the Ashleys children, Anna, Matilda and Ollie, lead a life others could only dream of. Are investors underestimating the impact of rate rises? [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 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. 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 sports retailer, reeling from a year-long scandal over working practices, said underlying profit before tax slumped to 71.6m from 166.4m in the six months to 23 October. Investors look to high quality disclosures to reassure themselves about the nature and extent of such transactions. Frasers Group changed its name from Sports Direct International last year. Sports Direct is doing a deal with Mike Ashley's daughter and buying a Both properties are in Linda's name, as is a cliff-top home in Majorca. Mike is also a keen gambler. Murray previously ran student nights in Reading, Berkshire with a friend. Ashley appointed Joe Kinnear to take temporary full-time charge of the squad as he began his search for a new owner. 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. 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. She spent another 2 million buying the cottage next door, which acts as a gatehouse to the property, now worth 20 million. One acquaintance said earlier this year they are 'more together than not' but the tycoon, who is known to work until 2am on many days, refuses to comment. 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. It would be wonderful for a wedding. This does not affect our editorial independence. We have no doubt that institutional investors will seek assurance and clarity about the nature of the business relationships.. The next day, Ashley apologised to Newcastle fans for the mistakes made throughout the season, but nonetheless praised all staff, including Shearer and Kinnear, for all their efforts throughout the season. Sports Direct founder Mike Ashley outside its headquarters in Shirebrook, Derbyshire. Some links in this article may be affiliate links. Find a location > All Champs Sports Stores > California > San Leandro > Champs Sports Loose or informal governance arrangements have the potential to surprise investors, something they would rather avoid. Mike Ashley has three children - two daughters and one son - with ex-wife Linda. 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). Ashley founded Sports Direct in 1982 when he was 18 , and today owns over 60% of the group that has grown to some 769 stores across 25 countries. 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 company owns SportFX's cosmetics brand. He's happy, she's happy, and to the amazement of people who know them, Mike and Linda are now getting back together.'. Matilda, Anna and Oliver, from 1998 to 2003. Retro football shirt fever has exploded, says LEE BOYCE: Is it a fightback from fans over expensive replica kits? 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. This could lead to Mr Murray becoming a multimillionaire, if he is successful. 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. The chairman of Sports Direct has criticised MPs, trades unions and the media for waging a campaign against the business as the retailer reported a 57% drop in first-half profits. However, Mr Murray has no property experience, according to Companies House, and his only business acumen is running student party events at Reading University, where he used to study. The Institute of Directors, the business leaders group, said the arrangement would not be tolerated at other companies and warned that shareholders would seek assurances over Murrays role and qualifications. Matilda is the daughter of Sports Direct founder Mike Ashley. [32], As the transfer window closed at midnight on 2 September, rumours started to appear in the press stating that Keegan was extremely unhappy with Director of Football Dennis Wise's interference in team matters. 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.. 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. Since Sports Direct International Plc went public, and his purchase of Newcastle United where he took to sitting in the stands with fans, Ashley took on a more public and accessible persona. Mr Ashley has another daughter, Matilda, aged 20. compared conditions at its Shirebrook warehouse to a Victorian workhouse, deal that Sports Direct struck with Barlin Delivery. Brayshaw has more than 30 years experience with firms such as Barclays Capital, HSBC, Citigroup and glass manufacturer Pilkington and said he was delighted to be joining the board of one of the UKs most dynamic companies. Considering the importance of Mr Murrays role to Sports Directs future, shareholders and other employees deserve to know more about this appointment.. From 675 Louboutin ankle boots to 1,000 Missoni beachwear and 200 Dolce & Gabbana sunglasses, she always looks the part. The retailer said its profit margins had been hit by the pounds sharp decline since the Brexit vote. Affiliate links: If you take out a product This is Money may earn a commission. Designed to look like a seagulls wing from the air, the villa has seven bedrooms, an infinity pool, tennis courts and an amphitheatre overlooking the ocean. Join thought-provoking conversations, follow other Independent readers and see their replies. 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. How much is Sports Direct supremo Mike Ashley worth? Michael Murray, engaged to Mike Ashley's daughter Anna, is currently head of elevation at Frasers Group. At the start of each working week, Mike hops in his helicopter a navy AgustaWestland AW109 worth 5 million and flies to the Sports Direct HQ in Derbyshire. In 1982, he opened his first sport and ski shop in Maidenhead followed by others in and around London, starting with a 10,000 loan from his family (equivalent to 37,545 in 2021). 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. Boyfriend of Mike Ashley's daughter gets key Sports Direct role Matilda is Ashley's youngest daughter. He also felt that Bentez was the right man to keep the club in the Premier League. They now live in a multimillion pound mansion in London's posh Belgravia. 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! Stay up to date with what you want to know. The report, released on Thursday, says that the firm will take delivery of a $51.1 million (40.25 million) corporate plane within weeks. A. The board should provide more details about how they will assess his value and what his targets will be, which should be high achieving. Sports Directs shares fell by 10% to 280p on Thursday. The second property, a former nightclub built inside a cave, includes a lift down to a white sand beach. At Sports Direct, Mr Murray will be . He was formerly the owner of Newcastle United football club, having bought it for 135million in 2007 until selling the club in October 2021. Chairman Keith Hellawell, a former police chief who has been widely criticised by shareholders, said an extreme political, union and media campaign waged against this company had damaged its reputation, influenced customers and had a negative impact on the morale of Sports Directs staff. Ashley said his long term ambition for Sports Direct was to become the Selfridges of sports retail. Sports Direct tycoon Mike Ashley has pledged financial support for his daughter's cosmetics company following its fifth consecutive year of losses. But he has now set up a London-based online radio station. He founded his empire with a single store, Mike Ashley Sports, in 1982. [65], On 17 November 2022, Ashley bought the CBS arena, Coventry City's stadium, in an attempt to save the football club from debts. Anna, 25, describes herself as a property developer and both she and her mother are listed as directors of a firm called RAAA, now dissolved. He said: 'I'm here every Wednesday and I see his helicopter fly over most weeks. 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. But fast forward 30 years and Mike, the tycoon who founded Sports Direct and owns Newcastle United football club, has become a notorious and highly controversial figure while raking in vast amounts of money from his myriad businesses. SHARE OF THE WEEK: Darktrace's Poppy Gustafsson faces questions about company's financial health when she As chip designer Arm chooses to float in US Ex-chancellor warns London stock market now 'less attractive'. "[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.