It has been reported this morning, that Sports Direct has sold its rights to the Dunlop brand, in a deal worth approximately $137.5m, to Sumitomo Rubber Industries Ltd. (SRI). The Japanese company have acquired both the wholesale and licencing businesses, whilst allowing Sports Direct a royalty free licence which will allow them to use the Dunlop brand for premium workwear and safety wear. SRI also has the option to acquire these rights for $12.5m at a later date, subject to certain mechanical conditions. The move is indicative of Sports Direct’s change of focus, to concentrate more on their core UK businesses as they do not currently have the size to manage international brands simultaneously with their domestic endeavours. The deal will need merger clearance in Germany and the Philippines prior to its completion but the transaction is expected to complete before 31 May 2017.