Sep 23, 2019

Sports Direct weighs £4m buyout of Goals Soccer Centres

Sports Direct has approached Goals Soccer Centres with a possible offer to buy out the ailing football pitch operator at a heavily discounted price tag of under £4m ahead of its expected delisting next week. Mike Ashley's group - already the biggest shareholder in Goals with a 19 per cent stake - said on Monday it had proposed a possible cash offer to the Goals board of 5p a share on September 5. Sports Direct said on Monday that should the delisting proceed, Goals shareholders would lose the ability to influence the sales process. "Sports Direct believes that due to Goals' well-publicised difficulties the board of Goals is not committed to maintaining Goals' trading facility," Sports Direct said in a statement. "Instead, it seems only interested in pursuing the [sale] process whilst, at the same time through the loss of the trading facility, depriving Goals' shareholders of the ability to vote on it. Sports Direct is strongly of the view that the Goals shareholders deserve an opportunity to consider the possible offer."

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