Sports Direct picks up Goldman to be its third corporate broker

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SPORTS Direct has named Goldman Sachs as its third corporate broker, months after chairman Mike Ashley used the bank to help sell £100m of his shareholding.

The retailer said Goldman Sachs’ first task will be to work with its employee trust to sell 17m shares through a secondary placing.

Espirito Santo was also named on the placing announcement, but Sports Direct’s third broker – Oriel Securities – was left out.

The firm said it will continue to have all three banks acting as brokers. Goldman’s team is led by co-head of corporate broking Philip Shelley.

The investment bank sold 25m shares for Ashley in February, marking the first time that Sports Direct’s founder had cut his holding since floating the firm in 2007.

Shares in the FTSE 250-listed company closed down 1.6 per cent yesterday, valuing the firm at just over £4bn.