The sportswear chain's value dips more than 10% as its founder cuts his holding
just days after his £73m bonus was turned down.
Shares in Mike Ashley's Sports Direct took a big tumble on the FTSE 100 on Tuesday after he sold a block of shares worth more than £200m.
It emerged late on Monday that the tycoon had offloaded 25 million shares just days after shareholders blocked his target-related £73m all-share bonus.
He has never taken a salary at Sports Direct.
Mr Ashley's share sale, through investment bank Goldman Sachs, took place as a separate investment in House of Fraser by Sports Direct was called into question by the department store chain ahead of the expected completion of its sale to Chinese firm Sanpower Group.
Mike Ashley founded Sports Direct in 1982
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