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Sports Direct chief exec and finance director sell £13m of shares

Sports Direct chief executive Dave Forsey and group finance director Bob Mellors have each sold £6.46m of stock in the sports giant.

The sale emerged on October 2 when both Forsey and Mellors exercised the option granted to them in the company’s executive bonus share scheme and bought one million shares in the company at 10p each and then sold 950,000 for 680p on the same day, taking home almost £13m between them.  

In a statement released to the market, SportsDirect said that both Forsey and Mellors continue to hold 50,000 shares (0.0.1%) in the company.

Sports Direct saw group sales rise 18.2% to £613.3m for the 13 weeks to July 28. Total gross profit rose 23.2% to £260.1m for the period.

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