Dick's Sporting Goods takes stake in JJB

JJB Sports has been thrown a lifeline by US sporting goods retailer Dick's Sporting Goods, which has made a strategic investment in the struggling UK sportswear retailer.

JJB Sports has been thrown a lifeline by US sporting goods retailer Dick's Sporting Goods, which has made a strategic investment in the struggling UK sportswear retailer.

Dick's is to invest an initial £20m in JJB, in return for which it will receive new JJB shares at a cost of 10p per share and convertible loan notes, plus representation on the JJB board.

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