Posts Tagged ‘Newcastle United’

Mike Ashley joins MySale

Saturday, June 21st, 2014
Photo credit; vagawi on Flickr

Photo credit; vagawi on Flickr

Mike Ashley’s Sports Direct International plc has acquired a 4.8% stake in Australian online retailer MySale.

But the purchase was pretty much by accident.

Ashley, who owns Newcastle United made the purchase after MySale shares were accidentally listed at two pounds, 26 pence, instead of 226p – which some trading floors interpreted as 2.26p – triggering a flash sale.

MySale only started trading on AIM at the beginning of the week.

In a statement to Sports Direct shareholders, the firm said: “Sports Direct looks forward to developing its relationship with MySale, including the potential to co-operate on significant collaboration and joint venture opportunities in Australasia and Asia.

“This partnership approach is consistent with Sports Direct’s strategy in other regions and the Group believes that MySale is ideally suited to help realise Sports Direct’s multi-channel potential in Australasia and Asia.”

MySale is a members online e-commerce platform that runs limited-time sales of designer goods exclusively to its members.

The firm is 25% owned by billionaire Topshop entrepreneur Sir Philip Green.

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