JD Sports Founders To Collect £40M From Sale Of Stake In Footasylum

The families of JD Sports tycoons John Wardle and David Makin are "set to reap" £40M ($51.2M) from the sale of a stake in their latest high street venture, according to Daniel Dunkley of the SUNDAY TIMES. The Wardles and Makins hired investment bank GCA Altium to "sell a chunk of Footasylum, which sells premium trainers and sportswear." The Footasylum sale will "lead to a big payday for the entrepreneurs," who own 10% of the chain. Makin’s three children own 90% of the business, which is run by Clare Nesbitt, Makin’s daughter. The shareholders are "keen to sell 40% of the company," which has been given a price tag of more than £100M ($129M). Footasylum, which employs more than 820 people, "sells most of its shoes to customers aged between 16 and 25" (SUNDAY TIMES, 7/9).