The sale netted the company £116m – a profit of around 25 per cent since it first bought shares in the company in June.
Sports Direct said the disposal was consistent with its policy of “making and retaining strategic investments for so long as the holding of such investments provide the opportunity to gain a strategic and commercial advantage.”
The British billionaire, who founded Sports Direct, recently built up a 29.9 per cent stake in Umbro, which could Nike to offer a higher price for the company in its takeover bid.
