Entrepreneur Sir Tom Hunter has bought a £1m stake in Sports Direct.
Hunter bought 392,156 shares at 255p from Sports Direct chief executive Dave Forsey and finance director Bob Mellors yesterday, only four weeks after Sports Direct’s acquisition of Hunter’s USC and Cruise businesses.
A spokesman for Hunter told The Guardian: “We did the deal and after that Tom said that he wanted to buy some shares in the company. He went to [Sports Direct] and asked what was the best way to do that. The purchase was not part of the [USC] deal.”