Sports Directâs Mike Ashley has invested £183 million ($350 mm) on a 3.14% stake in adidas. The entrepreneur used his own resources to buy the adidas stake, rather than those of Sports Direct.
Ashley floated Sports Direct â” the UKâs largest sportswear retailer operating under the Sports World name â” last month and netted about £929 million ($1.8 bn). At the time, he stated his aim was to create the biggest sports retailer in the world. Sports Direct is also understood to be on the brink of acquiring online sports goods retailer M and M Direct for up to £75 million ($147 mm).
Separately, Reebok, a subsidiary of adidas, will move its European Headquarters from the current offices in Bolton, England to Amsterdam, The Netherlands.
