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Sports Direct in line for £80m from Finish Line deal

Sports Direct stands to make nearly £80m from JD Sports Fashion’s deal to buy US sports retailer Finish Line.

Mike Ashley’s Sports Direct has built up a 19.3% stake in Finish Line and is set to receive up to £78.5m from its holding, This Is Money reports.

JD Sports entered into an agreement to buy Finish Line in a deal worth $558m (£396m) last month.

The conditional agreement will see the Bury-based retailer acquire 100% of the issued share capital of Finish Line at a price of $13.50 (£9.53) per share.

Finish Line is one of the largest retailers of premium multi-branded athletic footwear, apparel and accessories in the US.

 

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