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Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in, Mike Murray given 250m war chest to 'create value'in property consultancy role, Find your bookmarks in your Independent Premium section, under my profile. According to friends, he enjoys sports, eating at Nandos and watching football, including Newcastle United, which is owned by Mr Ashley. . No further comment has been made. One theory in City circles is that Mr Ashley is grooming Murray to take over the whole company. They previously lived at a mews house in Chelsea, which was sold for 5.7million in cash in September to Miss Ashley's 19-year-old sister Matilda. Change? Mike Ashley, pictured outside Sports Direct HQ in Derbyshire, received help from his parents to buy his first shop. [68], In February 2020, Ashley bought a 12.5 per cent stake in Mulberry, said by a business journalist for The Times to be worth around 19 million. The Financial Reporting Council (FRC) has since announced that it is investigating Sports Direct's auditors for failing to disclose the arrangement as a "related party. My immediate priority will be to protect the people at Sports Direct.. Linda moved Simon, currently director of five businesses including a textile wholesaler and soft furnishings manufacturer, into her two Totteridge mansions and in 2004 the couple had a son, Tyler. However, Sports Direct added that it is also about to take delivery of a new corporate plane, worth $51.1m (40m). And, despite his high profile, little is known about one of the most colourful tycoons of our age. ", Sports Direct says in Thursday's update that the deal was done "under market terms and makes good commercial sense.". He entered the department store industry following the acquisition of House of Fraser post-administration in 2018. . Lindas company, Current Design and Build, went into liquidation last year leaving her with even more time for swish shopping sprees. Financial documents for the year to April 2020 made available in recent days reveal that Double Take owes more than 1.6million to Mash Holdings. The 20million property has a bowling alley, home cinema decorated with life-sized Oscar statues, a golf course, a swimming pool and staff cottages. [60], In October 2014, Ashley owned an 8.92% stake in Rangers International Football Club (RIFC), the parent company of Scottish football club Rangers. Sports Direct said in a stock market statement that Murray would not be paid a salary; instead, the 26-year-old has a consultancy arrangement with the company. Michael James Wallace Ashley (born 9 September 1964) is a British billionaire retail entrepreneur focused in the sporting goods market, and the chief executive of Frasers Group Plc (formerly Sports Direct International). Sports Direct's governance has come under scrutiny from MPs with Mike Ashley admitting the company has become too big for him to control solely. It is not clear from whom she bought the property, but her sister Anna and Murray lived there last year. Mrs Ashley has a lavish seven-bedroom house and two properties for staff boasting a further four bedrooms. The group has also struck a deal with beauty company Double Take run by Mr Ashley's youngest daughter Matilda, 20, which could bag her millions. [55] However, on 30 July 2020 the consortium pulled out of the buying process, citing the prolonged delay from the Premier League to communicate a decision as causing their acquisition of Newcastle United to become untenable. Get directions, reviews and information for Direct Stone Importers in San Leandro, CA. The group employs more than 20,000 people in the UK and at stores in Ireland, Belgium and Slovenia. Mike Murray, who is in a relationship with Mr Ashleys eldest daughter, Anna, has to find new sites for Sports Direct and locations for the companys chain of gyms, which have stores attached. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Mike will put a further 20m into the club this week. How remorseless Stephen Bear continued his arrogant antics up until Martin Robinson, Uk Chief Reporter For Mailonline, Do not sell or share my personal information. As they rekindle their relationship (they were spotted back together in 2011), the Ashleys have downsized: Linda sold the old family home and put her other house on the market last year. BILLIONAIRE Mike Ashley is the man behind Sports Direct and a host of other brands. Interest also mounted around the feasibility of a fan buyout of the club, seeing the launch of the Newcastle Fans United group. Market Report: Sports World owner grabs stake in John David, "Personal finance How to grow your wealth and spend less money", "Mike Ashley wins high court battle over '15m pub deal', "Sports Direct U-turns on opening after backlash", "Billionaire Ashley launches Newcastle takeover", "Premier League side Newcastle re-appoint Kevin Keegan as their new manager", "Premier League Magpies warned after Keegan exit", "Newcastle United ordered to pay Kevin Keegan 2million in damages", "Boss Chris Hughton sacked by Newcastle United", "Chris Hughton not treated 'decently' by Mike Ashley Lord Alan Sugar", "Derek Llambias resigns as managing director of Newcastle United", "Lee Charnley Appointed Managing Director", "Who is Lee Charnley? Sports Direct founder Mike Ashley opened his first sports shop nearing four decades ago, depending on his friends and family for support. After their divorce, Linda kept the home and Mike moved into a 33-room pillared mansion down the road, bought in 2005 for 12 million. [27] As of 15 June 2007, Ashley owned a 77.06% stake in Newcastle United, on course to withdraw the club from the stock exchange having surpassed the 75% threshold required. This does not affect our editorial independence. The next day, Ashley apologised to Newcastle fans for the mistakes made throughout the season, but nonetheless praised all staff, including Shearer and Kinnear, for all their efforts throughout the season. At the meeting Dave Whelan, the founder of JJB Sports, reportedly told Ashley: "There's a club in the north, son, and you're not part of it."[24]. When the daily grind gets too much, the Ashleys have not one but four Spanish hideaways in which to sip sangria. Murray previously ran student nights in Reading, Berkshire with a friend. Mike is stepping down from his role as boss and is gearing up to hand the reins over to his daughter's fiance, who is widely seen as his right hand man. [63] Some Rangers supporter groups heavily criticised Ashley and expressed major concern and distrust about his nature and purpose of his intentions. The Equicruiser Super Luxury 7.5T sleeps six, has its own kitchen, TV and DVD player and enough room for two animals to travel. Considering the importance of Mr Murrays role to Sports Directs future, shareholders and other employees deserve to know more about this appointment.. He built it up from a single shop in Maidenhead, Berkshire, into one of the nation's most successful. Retail tycoon Mike Ashley, who founded Sports Direct in 1982, is getting ready to step down from his roll of boss. Access your favorite topics in a personalized feed while you're on the go. To see all content on The Sun, please use the Site Map. However, Mr Murray has no property experience, according to Companies House, and his only business acumen is running student party events at Reading University, where he used to study. Sports Direct tycoon Mike Ashley pledges financial support for daughter's cosmetics company following its fifth consecutive year of losses. Its become custom for top-performing Sports Direct staff to be rewarded with a stay at the bosss chalets, complete with private chef, and Mike, a keen skier, likes to go along, too. At Sports Direct, Mr Murray will be . A spokesman for the Ashley family did not comment last night. SportFX makes products which it says are designed to withstand the rigours of busy and varied lifestyles, promising 'whether you're bossing it at work, in the gym or on the dancefloor, we have you covered'. The retailers staff, he said, were increasingly upset and angry at the barrage of detrimental comments about the company which in their view is unjustified. Sports Direct declined to clarify how it would measure the value added, but Murray could earn millions of pounds if it uses the profits it banks from property every year. Hellawell questioned whether this "intense scrutiny is all ethically motivated," saying: "The Board accepts responsibility for our shortcomings, but there has also been disproportionate, inaccurate and misleading commentary.". Linda has always been stylish the couples wedding in Gothenburg was a sophisticated affair but as her husbands bank balance has risen, she has developed a taste for expensive designer clothes. She lives with boyfriend of five years Michael Murray, 27, in a 10.7 million house in Knightsbridge and its he who seems to be the breadwinner, thanks to a little help from Daddy. One acquaintance said earlier this year they are 'more together than not' but the tycoon, who is known to work until 2am on many days, refuses to comment. The group is worth around 3billion and has almost 1,000 shops. How to choose the best (and cheapest) DIY investing platform and stocks and shares Isa, > Compare the best investing platform for you. Today, Barbara, 78, and Keith, 74, still live in the same house. He was formerly the owner of Newcastle United football club . MIKE Ashley's retail empire extends beyond Sports Direct. Previous gigs include playing for Saudi royalty in Dubai, and in 2014 he set up an internet radio station, called Radar Radio. Neil Wilson, senior market analyst at forex and spread-betting firm ETX Capital, said: The company is blaming everyone else and its true that negative PR of this scale is very hard to shake. Frasers Group changed its name from Sports Direct International last year. In 1982, he opened his first sport and ski shop in Maidenhead followed by others in and around London, starting with a 10,000 loan from his family (equivalent to 37,545 in 2021). Loose or informal governance arrangements have the potential to surprise investors, something they would rather avoid. We do not allow any commercial relationship to affect our editorial independence. John Ashley received an annual 150,000 salary . After their 2003 divorce, Linda started a relationship with Simon Brodin, 44, a wealthy London businessman whose past girlfriends include a string of pop stars. We are no longer accepting comments on this article. Were mortgage rates below 4% a flash in the pan? [69], In August 2020, Ashley's Fraser Group purchased assets from the gym and fitness chain DW Sports, in a deal worth up to 44 million. They would get caterers in and have a marquee. ', Close: Mr and Mrs Ashley were married for around 14 years - there was around 12 years when they were not together but it appears they are going strong again, Sports Direct billionaire Mike Ashley's daughter Anna, left, has been dating Michael Murray since 2011 - he has been handed a plum role with Mr Ashley's sports company, Mr Ashley's youngest child Matilda'ssocial media profiles are full of glamorous selfies, left, she owns a Chelsea house bought for 5million - her brother Oliver works in radio rather than for the family business. But recently shes upped the stakes. Journalist Chris Jackson travelled to Thailand to visit the factories in which Ashley's material for his brand of Lonsdale is made. The company also pointed out that he is not listed as a director of any Sports Direct businesses, although he is a director of a handful of private businesses owned by Mr Ashley through his Mash web of companies. Oscar Cainer tells all. The companys non-executive directors will oversee an independent review every year to decide with their absolute discretion how much he should be paid. Instead of opting for a different attire, Ashley chose to take his usual place among the travelling fans for the game. Shearer however was unable to achieve more than 5 points from the 8 games he was in charge, and on 24 May, the Magpies were relegated to the Championship. His eldest daughter Anna is married to Michael Murray, who has an influential role at Ashley's Sports Direct to House of Fraser retail empire. Speaking on Radio 4s Today programme, Simon Walker, director general of the Institute of Directors, said the company was making changes, but that they did not go far enough. Matilda is Ashley's youngest daughter. Lee Charnley was quietly announced as his successor in 2014. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Both properties are in Linda's name, as is a cliff-top home in Majorca. , updated In winter, the Ashleys are spoilt for choice. Retro football shirt fever has exploded, says LEE BOYCE: Is it a fightback from fans over expensive replica kits? Friends say Ashley adores her and always has. "[41] The move to withdraw the sale proved questionable among many as he had stated little more than a week before that he regretted the purchase of the club and felt he never had the required stance and knowledge to own a football club. At any other FTSE 100 company, this would not be tolerated. An apparent anomaly with the fans was Ashley choosing 'Smith 17' as the number of his shirt, after a squad player Alan Smith he admired and 17 being a lucky number for him. An undercover Guardian investigation last year exposed how Sports Direct workers were being paid less than the minimum wage. Also on Thursday, the FRC wrapped up an earlier investigation into Sports Direct, which probed why the firm failed to discuss the development and performance of the firm's international stores in its last Annual Report. as well as other partner offers and accept our, NOW WATCH: It took 2 cranes to lift the 41-tonne plane that skidded off an icy runway in Turkey, The Financial Reporting Council (FRC) has since announced that it is investigating, Ashley was also forced to defend himself in January. Published: 02:01 GMT, 12 November 2016 | Updated: 09:43 GMT, 13 November 2016. Me and Mike are working like a partnership.". His remuneration is based solely on creating value, with the companys non-executive directors overseeing an independent review annually and deciding, in their absolute discretion, how much of any increased value (up to a maximum of 25 per cent) shall be paid to Michael.. Prince Andrew has 'offered to manage prestigious Royal estates including Balmoral but King Charles has told PLATELL'S PEOPLE: Yes, Madonna toyboys are fun but not if you value your dignity. Ashley said: The last six months have been tough for our people and performance. Doncaster-born Michael has been lined up to become chief executive in May next year. Neil Craven, Financial Mail on Sunday admitting the company has become too big for him to control solely. Matilda launched her Double Take firm in 2015. But if chairman Keith Hellawell does eventually go on 5 January [at a shareholder meeting] and someone like independent director David Brayshaw steps in, then we might see investors warm a little more to the stock and this could be the nadir.. Ashley was also forced to defend himself in January after he gave his daughter's boyfriend a 10 million loan on behalf of the company and a high-powered job managing property for Sports Direct. On 23 May 2007, in a surprise move, Ashley bought Sir John Hall's 41.6% stake in Newcastle United at one pound per share, for a total cost of 55,342,223[25] via his company St James Holdings Ltd. The chairman of Sports Direct has criticised MPs, trades unions and the media for waging a campaign against the business as the retailer reported a 57% drop in first-half profits. Matilda Ashley's company Double Take will get no royalties or other fees until at least September 2019, Sports Direct says, when the terms of the deal will be reassessed. Sarah Wilson, chief executive of Manifest, the shareholder representative group, said related party transactions between directors and their associates were a hot topic for investors, although Sports Direct is not thought to consider the agreement with Murray as a related party transaction. 6195 Coliseum Way, Oakland, CA 94621. If that wasnt enough, Linda also owns a lakeside home near Stockholm in Sweden. The couple own a lavish 32million eight-bedroom mansion in Miami Beach, Florida, located in a gated community on La Gorce Island. 21:51 GMT 24 Jul 2021 [32], As the transfer window closed at midnight on 2 September, rumours started to appear in the press stating that Keegan was extremely unhappy with Director of Football Dennis Wise's interference in team matters. However, after the departure of Kevin Keegan as manager and the club's relegation, he has only made low key appearances when attending Newcastle matches. [12], Ashley has made his money by buying brands. Find a location > All Champs Sports Stores > California > San Leandro > Champs Sports Neighbours who say the first thing Ashley did was raise the security gates and surrounding walls are still getting used to his garish Christmas display. Never mind that most of the tracksuits and training shoes he sells are worn by unsporty couch-potatoes rather than gym bunnies, or that the rough-diamond entrepreneur has been nicknamed The Chav King of the High Street. [21] Neither Ashley nor his representatives showed interest in taking part in the film, declaring that the film was producing a majority of inaccuracies. Neil Craven, Financial Mail on Sunday, Tycoons who built Asos into a 5bn empire: Shares in the online retailer surge after it snaps up Topshop and Miss Selfridge, Mike Ashley's Frasers to buy back 60m of its own shares despite warning of 200m hit from Covid. While Ashley has apologised for past mistakes, with his business practices under scrutiny once again, he and Linda, 50, are nowhere to be seen recuperating, perhaps, in one of their many multi-million-pound mansions around the world. They separated in 2010 Simon now lives in a 3.5 million home in London and Tyler, 12, is thought to live with his mother. His eldest daughter Anna is married to Michael Murray, who has an influential role at Ashley's Sports Direct to House of Fraser retail empire. The company has appointed investment banker David Brayshaw as a non-executive director. Sports Direct chairman should face the final whistle | Nils Pratley. [59], On 7 October 2021, Mike Ashley sold Newcastle United for 300 million to a consortium involving PCP Capital Partners, RB Sports & Media, and Public Investment Fund of Saudi Arabia. While he toils away in Shirebrook, his adult children Ollie, 25, Anna, 24, and Matilda, 19, and ex-wife, enjoy a more extravagant existence. Estate agent records show the home was let out in March for 3,250 a week. His eldest, Anna, is a property developer who also sits on the board of her dad's company Frasers Group - parent. This year, the former nightclub promoter was appointed to a consultancy role in a new 250 million property arm of Sports Direct. Sign up for notifications from Insider! This could lead to Mr Murray becoming a multimillionaire, if he is successful. The break-up cost him a reported 50million, and included their 'Millionaires Row' family mansion in north London, making it one of the most expensive divorces in British history. EXCLUSIVE: Head teacher of leading grammar school is sacked for sending parents a list of striking teachers. The budget sportswear retailer has also struck a licensing deal with makeup brand SPORT FX, which is owned by a company where Matilda Ashley is a director. It also has a cinema, family room, entertaining area, gym, games room with bowling alley, spa and sauna, and even a private golf course in the garden. [11] In mid-2006, it was also revealed that Ashley had held talks with John Hargreaves, founder of Matalan on both taking a 25% stake in the retail business and installing mezzanine floors in larger Matalan stores, on which Sports World outlets could be operated. Oliver Parry, senior corporate governance adviser at the IoD, said: Although it is ultimately up to each individual company to determine who they appoint to executive roles, shareholders will rightly be concerned about the appointment process surrounding Michael Murray, as well as how he will be remunerated. Have we let energy giants make too much profit? [40], On 27 October, Ashley took Newcastle United off the market after again failing to find a suitable buyer for the club. The Ashleys love to celebrate their vast wealth, and during their marriage were known for hosting parties at the family home. Murray is a director at Mash Services, a new vehicle linked to Ashleys main company Mash Holdings, as well as McGrove Developments, Ashleys new property group, and Strawberry Place Newcastle Limited, which owns land next to Newcastle Uniteds football stadium and plans to develop offices, student homes and a hotel. Mike Ashley's company owns the rightsto SportFX for clothing, footwear and sports equipment. Mike Ashley's unforgiving approach to business has made him a billionaire - but his generosity knows no bounds when it comes to his family, especially his ex-wife. [6] In August 2021 Ashley announced that he intended to step down as CEO of Frasers Group Plc in May 2022, but remain a Director of the main Board.[7]. Of course, going out with the boss's daughter is a tried-and-tested route to career advancement. Will spray foam insulation make your property hard to sell or mortgage? Mr Murray is also a director of Strawberry Place Newcastle Limited, which is a property business associated with Mr Ashleys Newcastle United. Matilda owns a second Chelsea mews house on an adjoining street, which she bought last September for 5.1 million in cash. He hired Merrill Lynch,[20] who initially valued the group at up to 2.5bn ahead of the flotation on the London Stock Exchange.[19]. Nationwide hikes cost of home loans just weeks after cutting Thrills without frills: New five-seater MG5 EV all-electric estate designed with 'keep it simple' maxim in mind, SMALL CAP MOVERS: Baron Oil falls despite upbeat report; Accrol surges after kitchen towels deal with Unilever. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. To inquire about a licence to reproduce material, visit our Syndication site. Oscar Cainer tells all. Poor working practices, which include the widespread use of zero hours contracts, have also been attacked by politicians and unions, leading to the announcement of a 15p-an-hour pay rise last week. Designed to look like a seagulls wing from the air, the villa has seven bedrooms, an infinity pool, tennis courts and an amphitheatre overlooking the ocean. 'But it is classic entrepreneur behaviour: if they don't have a son who wants to take over, they turn to the son-in-law.'. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking delivered daily to your inbox. Founder Mike Ashley says past six months have been tough but retailer spends 40m on corporate jet. By clicking Sign up, you agree to receive marketing emails from Insider The blonde sisters have model good looks and the wardrobes to match. The financial reporting watchdog noted that there was no discussion of Sports Directs international stores, which are a significant part of its business. [38], In January 2009, it was reported that interim manager Joe Kinnear had been offered a full-time position at the club by Ashley. Mrs Ashley's mansion appears to be on the market at the moment - and some newspapers have suggested that Mr and Mrs Ashley could marry again. Join thought-provoking conversations, follow other Independent readers and see their replies. Kinnear however suffered heart trouble the following month and was given leave by the club to recover. The statement also outlines how Sports Direct had linked with Double Take, a company owned by Mike Ashley and of which his daughter Matilda is a director, for a new cosmetic brand called Sport FX. It is an extraordinary turnaround for Mr Ashley, 51, who was said to have been heartbroken after the 2002 split with his wife of 14 years. Murray is the boyfriend of Anna Ashley, the tycoons eldest daughter. The waitresses were amazed when he ordered 100 bottles of Cristal and proceeded to hand them out to clubbers and spray them over his friends, an onlooker remembered. The boyfriend of Mike Ashleys eldest daughter could earn about 2.5m a year after being controversially put in charge of Sports Directs property empire. I've had enough of life': Grandmother, 86, is reduced to tears after killjoy Tory RICHARD LITTLEJOHN: As Florida governor and Donald Trump rival Ron DeSantis steps up his bid to win the Hairy Bikers star Dave Myers speaks out on his deep depression after chemotherapy which left him having 'How I snatched JK Rowling's baby out of her abusive husband's arms - and helped her flee with the Harry Top equestrian rider, 39, once known as the 'golden girl' of horse eventing, is facing jail after being A possum feared extinct is discovered by an amateur naturalist in Papa New Guinea being cooked on a Now California reparations panel RAISES amount it wants to give 1.8m black people from $220,000 to $360,000 My weekly horoscope: What will March 4th 2023 bring for MY star sign? Home 1: This is the North London mansion believed to be where Mike Ashley lives - and was seen leaving in his Bentley yesterday, Home 2: A mile away Mrs Ashley is said to live in this mansion, said to be worth around 20million - although one friend says that the couple may live together at weekends, Grand: Mrs Ashley's home is one of London's most prestigious mansions and even has a private golf course in its garden, Distance: Mrs Ashley's public show of support for Mr Ashley was the first public confirmation they are back together but it appears they still live in separate mansions just a mile apart. According to the Sunday Times Rich List, he is worth 2.7billion. Yesterday, Sports Direct refused to. Mr Ashley once presenting his wife Linda with a stunning Aston Martin DB4. He added: I begin to question whether this intense scrutiny is all ethically motivated.. ", "Rich List 2019: profiles 53-100, featuring Mike Ashley and Bernie Ecclestone", "Mike Ashley to step down as chief of Sports Direct owner Frasers Group", "Mike Ashley, the maverick who changed face of UK sports retail", "Sports World International sales climb 45pc and knock JJB off top spot", "The Times UK News, World News and Opinion", "MPDClick: Kangol sold to sports empire (UK)". Ashley subsequently "received words of advice" from the police during the game. Mrs Ashley told a luxury lifestyle magazine: 'We've had a few good parties here. Glamorous: Mrs Ashley is an interior designer from Sweden and the couple are believed to have married in Gothenburg in the late 1980s. The maximum Murray can be paid is 25% of the increased value. The following morning Keegan had a meeting at St. James Park with Wise and managing director Derek Llambias; it is unknown what exactly was said in the meeting, but witnesses saw Keegan storm out of the meeting claiming to be sacked. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, Mike Ashley and daughter Anna celebrate a Newcastle United goal, Anna with fiance Michael Murray, who is set to become Frasers Group chief exec, Mike Ashley shuts down Newcastle club shop and makes all staff redundant, Headteacher sacked 'after sending parents a list of striking teachers' as school launches probe, Isle of Innisfree ferry: Blaze breaks out on boat carrying 183 people in English Channel as lifeboats scramble to scene. Derbyshire based group Sports Direct International Plc, with headquarters in Shirebrook, has over 400 UK stores including the chains Sports World, Lillywhites (acquired in 2002) and Gilesports. As his wealth exploded their lifestyles are said to have become polar opposites. However, Murrays consultancy, MM Prop Consultancy Limited, was only set up on 17 December and is registered to the same address as Ashleys business interests. Linda is reportedly trying to sell the house, which she bought after the divorce, to a Middle Eastern buyer but she has another, in nearby Cap Falco, should she crave some Spanish sun. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. [71], He was educated at Burnham Grammar School in Burnham, Buckinghamshire. But as the retail tycoon prepares to hand over the reins to his daughter's fiance Michael Murray, here is what we know about him and Anna. Visit Website. He also felt that Bentez was the right man to keep the club in the Premier League. 10 miles. Recent accounts revealed that the company was being financed by loans from his dad. Aware of her husbands love of football (he did spend 135 million buying Newcastle United), Mrs Ashley even arranged for a number of big screens to show Englands Euro 2016 match. He stated that he would sell up, but only when the club had won a trophy, quickly reiterating that qualifying for the Champions League would also count. Murrays remuneration is based solely on creating value, Sports Direct said. As well as indulging Ashley's love of football, the couple are known for spending their spare time hosting lavish parties, and Mike is also a keen gambler. Since then the company has been forced to pay 1m in back pay to staff and offer more staff guaranteed working hours. He adores her and always has. Mr Ashley's wife and children have the run of the family's private property portfolio, including a seven-bedroom mansion in North London.