Retailer pulls out
Ashley drops bid interest in troubled Goals Soccer Centres
No deal: Mike Ashley
Mike Ashley has dropped his interest in acquiring troubled Goals Soccer Centres, claiming the East Kilbride-based firm failed to co-operate.
Mr Ashley had made an indicative 5p-a-share offer for the five-a-side pitch operator through Sports Direct in which he is majority shareholder.
Sports Direct is also Goals’ largest shareholder and its offer valued the company’s equity at about £3.8 million.
Ashley’s firm was seen as offering a lifeline to Goals which said it will delist its shares amid an investigation into accounting issues.
The leisurewear retailer said in a statement after the market closed on Monday: “Sports Direct had only limited and fitful access and cooperation from the board of Goals to support Sports Direct’s possible offer. Accordingly Sports Direct was unable to complete the necessary due diligence to progress the offer.”
A spokesperson for Goals told the Reuters news agency that “Goals has provided Sports Direct with all of the information they have requested as and when it became available,” adding that the board had not “frustrated” Sports Direct in any way from making an offer.