Sports Direct makes takeover bid for Goals Soccer Centres

Writer,

Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Sportswear retailer Sports Direct said it had made an offer for all of the shares that it did not currently own in small-sided football club group Goals Soccer Centres.

The company said it approached Goals on 5 September with a possible cash offer of 5p per share.

Sports Direct was currently the largest shareholder in Goals, with an 18.93% stake.

Goals shares were currently suspended from trading after the identification of errors in its accounts. In August, it announced a process to attempt to sell the company or its assets (AMA process).

'Sports Direct believes that due to Goals' well-publicised difficulties the board of Goals is not committed to maintaining Goals' trading facility,' Sports Direct said.

'Instead, it seems only interested in pursuing the AMA process whilst, at the same time through the loss of the trading facility, depriving Goals' shareholders of the ability to vote on it.'

'Sports Direct is strongly of the view that the Goals shareholders deserve an opportunity to consider the possible offer.'