Stake worth £39.2m
Sports Direct has acquired a 4.9 per cent stake, valued at£39.2 million, in sportswear manufacturer Amer Sports, which is listed on the Helsinki Stock Exchange.

Amer Sport's brands include Wilson, Salomon, Precor, Atomic and Suunto. Sports Direct said that it wants to continue expanding its outdoor leisure offering, as well as pursuing further opportunities in the UK and overseas.

Seymour Pierce analyst Richard Ratner said: 'The problem is, until a new [Sports Direct] chairman is appointed who has credibility with the City, it is difficult to recommend the stock.'

Despite floating at 300p in February, the share price of Sports Direct has since slumped, resulting in what was interpreted as a thinly veiled profit warning in April. The UK's largest sports retailer has also been plagued with speculation about management rifts.

Sports Direct founder and deputy chairman Mike Ashley recently acquired a 3 per cent stake in Adidas. The retail giant is also understood to be in advanced negotiations to buy online discount retailer M and M Direct, for up to£75 million. Deloitte was appointed a few months ago to evaluate strategic options for the business.