Sports Direct controller Ashley makes multi-mln stg loss on HBOS bet

Mike Ashley, the owner of Newcastle Football Club and controller of retailer Sports Direct, lost tens of millions of pounds last week after betting that HBOS shares would rise in the early months of this year, The Daily Telegraph reported, citing sources close to the situation.

Ashley, who was said to have placed the wager with spread betting group IG Index, was hit hard when shares in HBOS slumped on unfounded market rumours concerning the liquidity of the bank last week, the newspaper said.

Ashley’s spokesman would not comment on reports that he was 129 mln stg out of pocket on the bet, the newspaper said.

Tags: IG Index, spread betting

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