Sports Directs Mike Ashley has invested £183m (U.S. $350 million) on a 3.14% stake in adidas.
The information was published on the German stock exchange yesterday and the filing, which was sent on Friday, revealed Ashley as the purchaser. The entrepreneur has used his own resources to buy the Adidas stake, rather than those of Sports Direct.
Ashley floated Sports Direct the UKs largest sportswear retailer last month and netted about £929 million ($1.8 billion). 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 million).
As well as the 465 Sports World discount stores chain, Sports Direct owns Lillywhites in London and brands including Dunlop, Donnay and Slazenger.
