Jun 19, 2019

Sports Direct rebels against Goals directors

Sports Direct has threatened to vote against the reappointment of all directors at Goals Soccer Centres, the ailing football pitch operator that is 19 per cent owned by Mike Ashley's group. According to Sports Direct, Goals' lenders have appointed consultancy firm Deloitte to conduct an internal investigation but have not said whether this will be shared beyond creditors and directors. Sports Direct argues that this is unacceptable, partly because Christopher Mills, another major shareholder, is also a non-executive director of the company. In a letter to Goals' chairman Michael Bolingbroke, seen by the Financial Times, Sports Direct said the company should consent to it appointing Kroll to investigate the value added tax problem and other matters, and commit to making the report public. Sports Direct's stake in Goals was acquired in late 2015, when the shares traded at more than 130p. They were 27p at the time of suspension.

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