Sports Direct comments on inaccurate information published on The Guardian website

Shirebrook, UK, 2016-Apr-15 — /EPR Retail News/ — Further to yesterday’s announcement, Sports Direct (“the Group”) would like to correct inaccurate information that was published on The Guardian website by making the following comments.

“This property is a perfect strategic fit. The Group has had a long-standing interest in acquiring a flagship site in London for a 20,000 sq ft Flannels.com store along with 20,000 sq ft of prestige office space to replace New Cavendish Street, which was sold for £44m last May (2015). At that time the Group said its plan was to acquire a prime London site in order to gain more space and strengthen its market position. The Group has searched extensively before seizing this opportunity.

“The deal vindicates the Group’s faith in Michael Murray, who has successfully played a pivotal role executing the property strategy. This is one of the hottest freehold sites in London, superbly located in the mid-section of Oxford Street to the east of Oxford Circus. It is just a short walk from the forthcoming new Crossrail link at Tottenham Court Road, which will bring an estimated 50,000 extra people a day to the station in 2018 and it will bring 1.5million people to within 45 minutes by train.”

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KBA PR
Keith Bishop
020 7734 9995

This information is provided by RNS
The company news service from the London Stock Exchange

Sports Direct International plc clarifies the role and terms in relation to Michael Murray

Shirebrook, UK, 2016-1-4 — /EPR Retail News/ — Sports Direct International plc (“Sports Direct” or “the Company”) wishes to clarify the role and terms in relation to Michael Murray.

Michael Murray heads up the Company’s property team for the UK and internationally, which is primarily tasked with finding new sites for both our larger format stores and our combined retail and gym units.

Michael has a consultancy arrangement with the Company, is not paid a salary, and contrary to recent incorrect press reports is not a director of any company within the Sports Direct Group. His remuneration is based solely on creating value, with the Company’s non-executive directors overseeing an independent review annually and deciding, in their absolute discretion, how much of any increased value (up to a maximum of 25%) shall be paid to Michael.

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Notes to Editors

Sports Direct is the UK’s leading sports retailer by revenue and operating profit, with approximately 400 stores across the UK. The Group provides an unrivalled range of products, offering exceptional quality and unbeatable value, from a wide variety of third-party and Group-owned brands, both in-store and online. Sports Direct now operates in 20 countries in Europe. For more information please visit: www.sportsdirectplc.com  

 

>This information is provided by RNS
The company news service from the London Stock Exchange