Sports Direct builds stake in Umbro parent
SPORTS Direct, the retail giant, has taken a 9% stake in the US company which owns historic Manchester-based sportswear brand Umbro.
The listed company, founded by billionaire entrepreneur Mike Ashley, has taken a 9 per cent stake in Iconix, the New York-based group which bought Umbro from Nike in 2012.
The investment holding was revealed through US regulatory filings for Iconix. Sports Direct built its stake in November and December through buying contracts for difference. While those do not give it voting rights, it has an interest in almost 4.34 million shares.
The Derbyshire-based retailer business previously held almost 30% of Umbro, prior to its £285m sale to Nike in 2007.
The sporting brand, which takes its name from its founders, the Humphreys brothers of Wilmslow, made England’s kit for the 1966 World Cup final.
It currently supplies teams including Everton, West Ham United and Derby County.
Sports Direct declined to comment on its investment in Iconix, which has its Euopean base on Dale Street, Manchester, where Umbro now operates having previosly been headquartered in Cheadle and before that Wythenshawe.
Sports Direct owns a stake in east Manchester home shopping company Findel, while Mr Ashley personally owns around 7% of the shares in Bury-based JD Sports Fashion.
