Sports Direct has taken a 26% stake in Game, the high street software and hardware retailer. The company has recently suffered some setbacks due to lack of stock of Nintendo's Switch and a weaker than usual game lineup. Game shares jumped 15% on the news before dropping slightly but deal means the company is now worth around £47 million, according to The Guardian.
Sports Direct is run by controversial figure Mike Ashley who once reportedly drank so much on a team day out that he vomited in the fireplace of a pub. He's currently part of a court battle over £15 million he apparently promised to pay to Jeff Blue if he could double the Sports Direct share price in three years. Ashley disputes the agreement and Sports Direct share price has since crashed over controversy around how much it pays some staff.
Game has had its fair share of trouble over the years. In March 2012 it entered administration resulting in the closure of 277 stores. The firm did however recover and re-listed on the stock market June 2014. The company now has 580 shops across the UK and Spain.
The games retailer is also investing in eSports which are increasingly popular across the world. An increased focus on these competitions, events and online sales mean Game could have a bright future.
As well as offering sporting goods, Sports Direct also has a now-famous range of gigantic mugs. We can only hope this means we'll all soon be enjoying our morning coffee out of a massive lump of china with "Game" emblazoned across it. [via The Guardian]