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Sir Tom Hunter buys stake in Sports Direct

Sir Tom Hunter has increased his involvement with sports retailer Sports Direct with the purchase of a £1 million stake in the business.

GENERAL MERCHANDISE

Sir Tom Hunter buys stake in Sports Direct

Sir Tom Hunter has increased his involvement with sports retailer Sports Direct with the purchase of a £1 million stake in the business.

The founder of private equity firm West Coast Capital bought 392,156 Sports Direct shares at £2.55 from Sports Direct chief executive David Forsey and finance director Robert Mellors.

The move comes just four weeks after Hunter’s sale of clothing chains, USC and Cruise Fashion, to Sports Direct for a total of £7 million.

Sports Direct, which was founded by owner of Newcastle United Mike Ashley, bought 80% of Cruise and 80% of USC with Hunter owning the remaining 20% of both brands.

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