Mike Ashley's Sports Direct has confirmed it has agreed a £120 million deal to sell its Derbyshire headquarters after weeks of speculation.
The office will be sold to KWAA Logix Sportivo, which is said to be owned by the Malaysian Employees Provident Fund (EPF).
The retailer said that on completion of the deal, it will also take a 15-year lease on the Shirebrook property and continue to operate it as a distribution centre, offices and retail business.
Sports Direct will use the sale proceeds to boost its working capital and put towards its group operations.
It comes just a day after serial high street entrepreneur Mike Ashley revealed he in talks to sell Newcastle United to UAE billionaire Sheikh Khaled bin Zayed Al Nahyan.
Sheikh Khaled, a relative of Manchester City owner Sheikh Mansour, failed with a £2billion takeover of Liverpool last year.
It has been reported the deal for Newcastle is worth £350m.
"We can confirm the representatives of his Highness Sheikh Khaled Bin Zayed Al Nahyan are in discussions with Mike Ashley and his team about the proposed acquisition of Newcastle United Football Club," a statement read.
"We view it as an honour to have the opportunity to build on the strong support, history and tradition of the club."
