File photo dated 08/08/13 of a Sports Direct shop, as Newcastle United owner Mike Ashley pocketed more than £110 million after a shares sale reduced his stake in retail chain Sports Direct. PRESS ASSOCIATION Photo. Issue date: Wednesday January 21, 201
SPORTS Direct founder Mike Ashley is selling a 2.6 per cent stake in Sports Direct worth £117m, in a deal with US bank Goldman Sachs.
Mr Ashley, who founded Sports Direct in 1982, will see his stake in the retailer fall to 55 per cent, worth about £2.5bn.
The deal has fuelled rumours that the Newcastle United owner is preparing to offer cash-strapped Scottish football team Rangers a £10m emergency loan, which would effectively give him control of the Ibrox club.
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