Mike Ashley makes £106m from shares sale

Newcastle United owner Mike Ashley has made £106 million after selling a 2.7% stake in his Sports Direct business.

It comes less than a year after he raised £100 million by offloading a 4% holding.

"There was a lot of fuss about him cashing in, but these moves only help to improve liquidity over time and the sale yesterday... seems to have been taken more calmly."

– Independent retail analyst Nick Bubb

The sale was announced after Sports Direct reported yet more strong trading figures, with a 15.1% sales surge in the nine weeks to September 29.

Mr Ashley still has a 61.7% holding in Sports Direct.