THE new owner of Newcastle United, Mike Ashley, yesterday made another acquisition by paying £5m for a 60 per cent stake in outdoor leisure chain Field and Trek.

The billionaire's Sports Direct International business made the move for the retailer, which sells outdoor brands including The North Face and Berghaus, to expand its presence in the outdoor leisure sector.

Sports Direct also owns a near 30 per cent stake in rival outdoor chain Blacks Leisure.

Mr Ashley, through his takeover company St James Holdings Limited, now owns 95 per cent of Newcastle United, and is expected to complete his £133m takeover of the club in the coming weeks.

Yesterday's Field and Trek purchase marks the latest deal for Buckinghamshire-based Mr Ashley since he made £929m by floating 43 per cent of Sports Direct in February. He also has the option to buy the remaining 40 per cent of Field and Trek for £5m over the next five years.

Since then, he has bought a stake in Finnish sports firm Amer Sports and is due to land boxing equipment maker Everlast.

As well as Sports World, Mr Ashley's sportswear empire also includes Lillywhites and he owns the Lonsdale, Karrimor and Kangol brands.