What Mike (Ashley) did next?

Billionaire founder of Sports Direct, which reports half-year results on Thursday, made it to the news over the weekend as he is reportedly moving behind the scenes to force football-strip retailer Findel to accept one of his nominees on its board.

As reported by the ‘Guardian’ and the ‘Independent’ on Sunday, investors in the online sports and gifts retailer Findel are worried that Sports Direct might prompt the company towards administration if it appoints a representative to the board.

It is worth recalling that Mike Ashley’s Sports Direct bought a stake in Findel a month ago, and now is proposing Benjamin Gardener, former executive at Sports Direct’s fashion chain USC, to be made a non-executive director.

Sport Direct bought a 19 percent stake from Schroders and Toscafund at Findel. The shareholders Toscafund, Schroders and River & Mercantile, which own a combined 43.9 percent stake in Findel, have agreed to vote against the appointment of Gardener, as published by the ‘Independent’.

Media reports indicate that the main concern among Findel’s shareholders is that, if he finally makes it to the board, Gardener might be a driving force to impose the administration.