Sports Direct International Plc Property Acquisition (9980U)

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RNS Number : 9980U

Sports Direct International Plc

13 April 2016

13 April 2016

Sports Direct International plc

Correction to inaccurate press reporting

Further to yesterday's announcement, Sports Direct ("the Group") would like to correct inaccurate information that was published on The Guardian website by making the following comments.

"This property is a perfect strategic fit. The Group has had a long-standing interest in acquiring a flagship site in London for a 20,000 sq ft Flannels.com store along with 20,000 sq ft of prestige office space to replace New Cavendish Street, which was sold for GBP44m last May (2015). At that time the Group said its plan was to acquire a prime London site in order to gain more space and strengthen its market position. The Group has searched extensively before seizing this opportunity.

"The deal vindicates the Group's faith in Michael Murray, who has successfully played a pivotal role executing the property strategy. This is one of the hottest freehold sites in London, superbly located in the mid-section of Oxford Street to the east of Oxford Circus. It is just a short walk from the forthcoming new Crossrail link at Tottenham Court Road, which will bring an estimated 50,000 extra people a day to the station in 2018 and it will bring 1.5million people to within 45 minutes by train."

ends

KBA PR

Keith Bishop

020 7734 9995

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April 13, 2016 02:00 ET (06:00 GMT)