Mike Ashley To Leave Board Of Sports Direct Group
Mike Ashley is to step down from the board of Frasers Group, owner of the Sports Direct chain that the retail billionaire founded 40 years ago.
Mr Ashley had already handed over the running of the group to his son-in-law Michael Murray earlier this year.
Frasers said Mr Ashley would not be standing for re-election as a director, and would leave the board next month.
The company also announced that Mr Ashley will provide the company with £100m worth of funding.
In a statement, the firm also said Mr Ashley would continue to be available to the board and management for advice "when called upon".
Mr Murray, Frasers' chief executive, said Mr Ashley had "built an incredible business over the past 40 years".
Mr Ashley has been one of the High Street's most prominent and colourful figures since founding his business. He first entered the fitness industry as a squash coach before opening his first High Street sports shop in Maidenhead, Berkshire, in 1982.
The Sports Direct business grew as Mr Ashley bought up well-known names such as Dunlop, Slazenger and hat-maker Kangol. It is now the UK's largest sportswear retailer, with more than 400 stores.
In 2007, Mr Ashley floated the business as a public company on the London Stock Exchange in a move which valued it at £2.5bn.
Later that year, his public profile increased when he bought majority control of Newcastle United. However, his tenure was criticised by fans over his ownership style and perceived lack of investment, and he sold his stake in the club in October last year.
As well as buying brands, the Sports Direct group also bought chains such as lingerie firm Agent Provocateur and luxury fashion chain Flannels.
Who is Mike Ashley?
Mike Ashley may be stepping down from the board of Frasers Group but he is by no means out of the picture though. He is still the group's controlling shareholder with a stake of nearly 70% and has agreed to lend the business £100m.
Sports Direct founder Mike Ashley
Starting out as a single sportswear shop, his retail empire now includes the likes of Game, Jack Wills, and Evans Cycles.
Story continues
The move does, however, mark a significant change of the guard and one which may bring major change to the business, of which Mr Ashley built the foundations for 40 years ago.
Read more here
In 2018, Mr Ashley bought the House of Fraser department store chain for £90m and the following year he changed his company's name from Sports Direct International to Frasers Group.
As his retail empire grew, Mr Ashley frequently courted controversy. His dealings with the City started badly when shares in Sports Direct halved shortly after the company's flotation.
Many investors were unhappy at the way the company was run, but in a Sunday Times interview Mr Ashley called them "cry babies", telling the paper: "Sports Direct should come with a government health warning - this stock is not for the fainthearted."
In 2017, London's High Court heard that the businessman once hosted a management meeting in a pub where he drank 12 pints and vomited into a fireplace.
The company was also accused of building its success by exploiting workers. In 2016, in a hearing before MPs, Mr Ashley admitted workers at its Derbyshire warehouse had been paid below the minimum wage and that its policy of fining staff for being late was unacceptable.
Mr Ashley stepped away from running Frasers Group when he handed over the role of chief executive to Mr Murray in May this year.
Michael Murray, Mike Ashley's son-in-law, took over as chief executive of Frasers Group
Shortly after taking over the role, Mr Murray became Mr Ashley's son-in-law after marrying his daughter, Anna, in a lavish ceremony at Blenheim Palace.
In an interview with the BBC in May, Mr Murray said that Mr Ashley was "not pulling the strings".
"We have vocal debates. We agree, we disagree. But ultimately the decision lies with me on the outcome of where we take the company."
Mr Murray is in line for a £100m pay-out if he can double Frasers' share price to £15 within the next three years.
In order to get the payment, the company's share price needs to reach £15 for 30 trading days in a row before October 2025. The shares are currently trading at about £7.70.
Sports Scores, Highlights: Somerset Berkley Soccer Teams Collect Points Against ORR
The fall sports season is underway in the Fall River area.
Take a look at the highlights from Monday's local high school action:
Boys soccer: Joseph Case vs. Fairhaven
SCORE: Fairhaven 3, Joseph Case 0
LOCATION: Joseph Case
DATE: Sept. 19
RECORD: Joseph Case, 0-3
HIGHLIGHTS: The Cardinals fall short against league opponent Fairhaven. Freshman Logan Macomber and senior Joel Mello had a solid performances for Case. The score was tied at 0-0 at halftime. The Blue Devils capitalized on crucial mistakes midway through the second half. Joseph Case travels to Wareham on Wednesday.
Boys soccer: Somerset Berkley vs. Old Rochester
SCORE: Somerset Berkley 3, Old Rochester 3
LOCATION: Somerset Berkley
DATE: Sept. 19
RECORD: Somerset Berkley, 3-2-1 (2-1-1 in South Coast Conference)
HIGHLIGHTS: The Raiders overcame a three-goal deficit to tie their game with Old Rochester. Cam Freitas, James Doucette (assist) and Shai Berman. Berman scored with a minute left for the equalizer. Evan Furtado stopped six shots on net. Somerset travels to Bourne on Wednesday.
Somerset Berkley’s Shai Berman looks on at the action as he waits to enter Wednesday’s match with Dighton-Rehoboth.
Girls soccer: Joseph Case at Fairhaven
SCORE: Fairhaven 6, Joseph Case 0
LOCATION: Fairhaven
DATE: Sept. 19
RECORD: Joseph Case, 1-4
HIGHLIGHTS: Liza Pinette and Christina Pimentel each had two goals to power the Blue Devils. Catia Fernandes and Meaghan Powers each added a goal. Malene Mattos had three assists while Tenley Dakin, Pinette, and Sophia Fleurent chipped in with an assist apiece. Sara Reis went scoreless in net, allowing freshman, Kennedy Allain, quality time to end the second half. The Blue Devils (3-0-2, 2-0 SCC) visit Seekonk on Wednesday while Case hosts Wareham.
Girls soccer: Somerset Berkley at Old Rochester
SCORE: Somerset Berkley 5, Old Rochester 2
LOCATION: Old Rochester
DATE: Sept. 19
RECORD: Somerset Berkley, 2-3-1 (2-2-1 in South Coast Conference)
HIGHLIGHTS: The Raiders pulled out a road win against league opponent Old Rochester. Alex Cook netted a pair of goals in the win. Jocelyn Wilson chipped in with a goal and two assists. Aryanna Secia (assist) and Julianna Nassiff also recorded goals. Emily Fernandes and Mia Gentile also had assists. SBR host Bourne on Wednesday.
Story continues
Alex Cook
Girls soccer: Joseph Case at Bristol-Plymouth
SCORE: Bristol-Plymouth 2, Joseph Case 1
LOCATION: Bristol-Plymouth
DATE: Sept. 16
RECORD: Joseph Case, 1-3
HIGHLIGHTS: The Cardinals lost their game against non-league opponent Bristol-Plymouth. Freshman Julia Lopes netted Case's lone goal, her fourth of season.
Field Hockey: Joseph Case vs. Dighton-Rehoboth
SCORE: Joseph Case 3, Dighton-Rehoboth 2
LOCATION: Joseph Case
DATE: Sept. 19
RECORD: Joseph Case, 4-0 (3-0 in the South Coast Conference)
HIGHLIGHTS: Megan Smith scored off the corner at the end of regulation to give the Cardinals a win over Dighton-Rehoboth. Smith finished with two goals and an assist. Lexi Yost had a goal and Brooke Orton and Adalyn Carriero each collected an assist. Netminder Anna Michaud had 4 saves in net. Case travels to New Bedford for a non league matchup on Wednesday.
Field Hockey: Durfee vs. Seekonk
SCORE: Durfee 8, Seekonk 0
LOCATION: Durfee
DATE: Sept. 19
HIGHLIGHTS: The Hilltoppers blanked non-league opponent Seekonk. Toni Freitas and Kacey Curran (assist) each netted two goals. Shakira Cadet added a goal and chipped in with two assists. Sydni Duong, Josie Caine (assist) and Ellia Delisle (assist) also scored a goal. Kailey Hutchinson posted another shutout in net. Emily Curran, Paitynn Botelho and Brooke Macedo each had a great game on defense. Solid team win today for us," Durfee head coach Nicole Henrique said. "Everyone who played today contributed to this win." The Hilltoppers host Dartmouth on Wednesday.
Durfee field hockey player Tori Freitas
Field Hockey: Westport at Wareham
SCORE: Wareham 2, Westport 0
LOCATION: Wareham
DATE: Sept. 19
RECORD: Westport 0-3
HIGHLIGHTS: Despite strong games from Avery Avila, Isabella Babb and Madeleine Melnyk, the Wildcats fell to the Vikings. Both goals by Wareham were scored in the last quarter. "Our young team played hard against a physical and older Wareham team," Westport head coach Jacquelyn Legendre said. The Wildcats hosts Southeastern on Wednesday.
Westport field hockey player Isabella Babb
Golf: Bishop Connolly at Bristol-Plymouth
SCORE: Bristol-Plymouth 9, Bishop Connolly 0
LOCATION: Bristol-Plymouth
DATE: Sept. 19
RECORD: Bishop Connolly, 1-1
HIGHLIGHTS: The Cougars lost their first match of the season to Bristol-Plymouth.
Golf: Diman vs. Cape Cod Tech.
SCORE: Diman 5, Cape Cod Tech. 4
LOCATION: Swansea Country Club
DATE: Sept. 19
RECORD: Diman, 1-2 in Mayflower
HIGHLIGHTS: The Bengals captured their first win of the season against Cape Cod Tech on the last putt of the match. Freshmen Wyatt Messier made a clutch putt to secure the win. Hunter Quental and Jacob Almeida also won their match. Diman hosts Bristol-Plymouth on Tuesday.
Girls Volleyball: Atlantis Charter vs. Upper Cape
SCORE: Atlantis Charter 3, Upper Cape 2 (24-26,25-17,25-20,20-25,15-9)
LOCATION: Atlantis Charter
DATE: Sept. 19
RECORD: 1-4
HIGHLIGHTS: The Tritons captured their first win of the season beating Upper Cape at home in five games. Liz Perez had nine aces, two kill shots and a dig. Victoria Gomes collected 11 aces and three digs. Rebecca de Moreas finished with four aces and six kill shots. Sarah Moniz ended with 11 aces, two kill shots and three digs. Atlantis Charter takes on Bishop Connolly on Friday.
Girls volleyball: Durfee vs. Taunton
SCORE: Durfee 3, Taunton 1
LOCATION: Durfee
DATE: Sept. 19
RECORD: Durfee, 4-2 (1-0 in Southeast Conference)
HIGHLIGHTS: The Hilltoppers took three of four games from visiting Taunton High. Lauren Kuchar had a big game with 11 kill shots and two aces. Niyah Boone finished with six kill shots while Jasmine Caine ended with four kill shots and 12 assists.
Kelly Montanez (three kill shots), Alexis Layne (16 digs) and Dalia Karam (nine digs) also played well in the win. Durfee hosts Dartmouth on Wednesday.
Durfee girls volleyball player Lauren Kuchar
Golf: Somerset Berkley at Fairhaven
SCORE: Fairhaven 3, Somerset Berkley 0 (16-25, 18-25 and 20-25)
LOCATION: Fairhaven
DATE: Sept. 19
RECORD: Somerset Berkley, 3-2 (2-2 in the South Coast Conference)
HIGHLIGHTS: The Raiders dropped three straight games against league opponent Fairhaven. Abigail Vieira had six kill shots and eight digs for SBR. Cali Leger finished with three aces and nine digs. The Raiders face Old Rochester next Monday.
Herald News and Taunton Daily Gazette sports editor Steven Sanchez can be reached at ssanchez@heraldnews.Com. You can follow him on Twitter at @Chezsports. Support local journalism by purchasing a digital or print subscription to The Herald News today.
This article originally appeared on The Herald News: High school sports: Durfee, Joseph Case field teams win at home
The Oklahoma City Thunder only had one entrant in Lu Dort — who they categorize as a small forward for the positional rankings.
The top-four small forwards are Kawhi Leonard, Jayson Tatum, Jimmy Butler and Paul George in that order.
Let’s take a look at where Dort — who signed a five-year, $87.5 million deal this past offseason — is ranked and the reasoning behind his ranking as he enters his fourth season.
CBS Sports Ranks Lu Dort As 20th-best Small Forward
A CBS Sports panel ranked the top-22 small forwards in the NBA heading into the 2022-23 regular season.
The panel includes Colin Ward-Henninger, Jack Maloney, Sam Quinn, Brad Botkin, James Herbert, Jasmyn Wimbish and Michael Kaskey-Blomain.
Tags
Sports