Newcastle FC owner Mike Ashley buys HMV Oxford Street

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Sports Direct owner and accomplished drinker Mike Ashley has purchased the lease for HMV Oxford Street.

The Independent reports that Newcastle FC owner intends to open a new 60,000 sq ft sports outlet there having agreed to acquire the lease from Deloitte.

Sports Direct already has one Oxford Street store at the Plaza shopping centre, although it is understood that this will be closed.

HMV, meanwhile, does not intend to abandon Oxford Street having agreed to take on the lease of a smaller Footlocker store just down the road.