Mike Ashley is reportedly prepared to spend £100m to buy the Evans Cycles chain from Active Capital, who beat him to the £35m acquisition in 2008

Businessman Mike Ashley, founder of the Sports Direct chain, is just one of the names in the race to buy Evans Cycles, according the Telegraph.

Ashley, who also owns Newcastle United Football Club, is reportedly prepared to spend around £100m to purchase the cycle retailer from private equity group Active Capital.

The 50-year-old tycoon is keen to expand his Sports Direct brand into the cycling market, having failed to purchase Evans in 2008 when Active Capital bought it for £35m.

>>> HOY expands Napier balance bikes range at Evans

According to the Telegraph, Halfords has also looked into buying Evans to capitalise on its relationships with key suppliers like Specialized and Trek, who refuse to supply Halfords.

But the paper reports that Halfords has “categorically ruled out” a move for their high street rivals with the company preferring to focus on building its Cycle Republic brand.

Ashley is not shy to splash his cash, recently investing £85m into ailing department store Debenhams after a long-term flirtation with buying Glasgow Rangers Football Club.

  • Jamesronksley

    AstroTurf ….were you trying to say something ?

  • LOL Astroturf

  • Phil O’Connor
  • Jamesronksley

    So uninformed….Mike Ashley is a retail genius, his brands stretch far beyond sportsdirect including high end specialist running stores. He has a distribution network and retail footprint which is the envy of many other “quality retailers” hence the reason he has taken on the stock markets and won and whenever he goes near another retailer they quiver in fear…..debenhams being just one example. Cycling snobbery….just look at Rapha and other like brands high prices but manufactured where????

  • Graham Davidson

    Whilst I am happy to buy from Sports direct it is mainly sports clothing which I do not need expert advice on. What he would do with such a technical decision as buying a new bike or specialist parts only remains to be seen. Also the costs may come down but look how big most sports direct stores are. Evans are local and relatively small not sure if his business model would work here. What cost for suppliers being squeezed ever tighter on their margins could result in less choice from the small businesses and it will just become a cycling supermarket.

  • jabberwocky12

    really i thought sports direct was doing well ..
    are you just prejudiced perhaps …i can say for sure if mike buys …then the cost of cycling will drop and everyone will benefit ..what could be wrong with that????

  • dourscot

    Trying to imagine what Ashley would do to bicycle retailing. If it’s as gormless as Sports Direct, no thanks.