Frankie 8,529 Posted May 19, 2016 Share Posted May 19, 2016 The Kering Group own 86% of Puma. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,599 Posted May 19, 2016 Share Posted May 19, 2016 In much the same way as Ashley was running Rangers with only 9% holding, I have heard a few times over recent months that Ashley virtually "owns" Puma, as well as Lonsdale and a couple of other brands that are heavily stocked in SD. SD do own Lonsdale and other brands that they stock heavily, but not Puma. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted May 19, 2016 Share Posted May 19, 2016 An idea of how loaded the deal was - "A Guardian analysis of the Rangers accounts last month suggested that the joint venture with Sports Direct, Rangers Retail Ltd, had paid the Scottish Championship team dividends of about £559,000 since the deal came into effect about four years ago. During that time, the Rangers store had taken more than £13m through its tills from fans, while a previous retail deal with JJB Sports saw the club receive an initial payment of £18m, with a guaranteed minimum annual royalty of £3m. Over the same four-year period, the accounts also suggest that Sports Direct was paid three times Rangers’ dividends, totalling about £1.8m. On top of those payments, it has also earned hundreds of thousands of pounds from the joint venture for providing retailing services. Despite the difference in the amounts received by each party, Rangers owns 51% of Rangers Retail, while Sports Direct holds the remaining 49%. The agreements between the two also include: A seven-year notice period to break the contract A confidentiality agreement that binds Rangers but not Sports Direct Obligations for Rangers Retail to buy stock at a “higher cost than its retail value” A clause allowing Sports Direct to force Rangers out of its shareholding in Rangers Retail if the relationship between the club and the retailer is “deadlocked” A further clause that forced the football club to pay Sports Direct £620,000 for closing down two former Rangers stores in Glasgow and Belfast Zero upfront payment to Rangers for awarding the retail deal to Sports Direct in 2012 A controlling vote for Sports Direct on “financial matters” concerning Rangers Retail. " No wonder Dave King had this to say , " “It is unfortunate that it required the repayment of the expensive so-called ‘interest-free’ loan [from Sports Direct] before we were able to give notice on the agreement with Sports Direct or to take legal action to protect the club’s interests and seek restitution. “This bizarre state of affairs was caused by poorly negotiated agreements prior to regime change during which personal interest was put ahead of those of the club. Additionally, some of the individuals negotiating on behalf of Rangers had a clear conflict of interest.” 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted May 19, 2016 Share Posted May 19, 2016 How soon till rangers retail have to show their accounts? "Accounts overdue Next accounts made up to 30 April 2015 due by 31 January 2016.Last accounts made up to 27 April 2014" " Next annual return made up to 13 July 2016 due by 10 August 2016 " https://beta.companieshouse.gov.uk/company/08142409 Sorry but I have no idea what any of that means mate. 0 Quote Link to post Share on other sites More sharing options...
forlanssister 3,105 Posted May 19, 2016 Share Posted May 19, 2016 (edited) In much the same way as Ashley was running Rangers with only 9% holding, I have heard a few times over recent months that Ashley virtually "owns" Puma, as well as Lonsdale and a couple of other brands that are heavily stocked in SD. He doesn't own Puma at all it's 86% owned by the luxury goods firm Kering who own Gucci,Saint Laurent, Stella MCCartney, Alexander McQueen etc...etc I think he may have (maybe still does) had own 6% which was purchased as a spoiler so that Kering would supply him with some of their luxury brands. SD's brands. http://www.sportsdirectplc.com/our-brands/sports-and-leisure.aspx http://www.sportsdirectplc.com/our-brands/fashion-and-lifestyle.aspx *should have read whole thread* Edited May 19, 2016 by forlanssister 0 Quote Link to post Share on other sites More sharing options...
RANGERRAB 3,612 Posted May 19, 2016 Share Posted May 19, 2016 Ashley would appear to have a good relationship with PUMA though would he not? 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted May 19, 2016 Share Posted May 19, 2016 Ashley would appear to have a good relationship with PUMA though would he not? I think that is more to do with his previous disputes with Adidas. 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted May 19, 2016 Share Posted May 19, 2016 I think that is more to do with his previous disputes with Adidas. http://www.independent.co.uk/news/business/analysis-and-features/how-mike-ashley-finally-met-his-match-with-adidas-9001814.html 0 Quote Link to post Share on other sites More sharing options...
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