, updated Murray previously ran student nights in Reading, Berkshire with a friend. BILLIONAIRE Mike Ashley is the man behind Sports Direct and a host of other brands. In June he told a Parliamentary select committee that some of his workers were effectively paid less than the minimum wage because they were held back and searched after their shifts. She said: Any transfer of wealth from a listed company to a controlling shareholder through related party vehicles have the potential to be detrimental to minority shareholders. The retailer has a deal with a delivery company called Barlin, which is 100% owned by Mike Ashleys brother John. Journalist Chris Jackson travelled to Thailand to visit the factories in which Ashley's material for his brand of Lonsdale is made. Mr Ashley was previously executive deputy chairman of the retail group - which changed its name from Sports Direct International to Frasers Group two years ago - until 2016, when long-serving. [27] As of 15 June 2007, Ashley owned a 77.06% stake in Newcastle United, on course to withdraw the club from the stock exchange having surpassed the 75% threshold required. MIKE Ashley's retail empire extends beyond Sports Direct. Poor working practices, which include the widespread use of zero hours contracts, have also been attacked by politicians and unions, leading to the announcement of a 15p-an-hour pay rise last week. Sports Direct's interim report also revealed a 57% slump in half-year profits to 71.6 million, despite a 14.2% rise in revenue to 1.63 billion. The first major brand he bought was Donnay. The now 31-year-old was later promoted and took on the responsibility of the group's shop opening and refurbishment plans. Mr Ashley started Sports Direct 34 years ago with a 10,000 loan from his parents. 21:51 GMT 24 Jul 2021 This year, the former nightclub promoter was appointed to a consultancy role in a new 250 million property arm of Sports Direct. Over the next decade, the enterprise just kept growing. The business became a limited liability company in 1999. The company is reeling from a year rocked by scandal, with allegations of abusive working practices and numerous PR gaffes. [42] The club released future plans in the same statement, announcing the club would attempt to sell the club's stadium naming rights to raise funds to clear debts of the club, causing outrage among Newcastle fans across the world who felt the club would lose tremendous heritage with the name of St James' Park changed. Billionaire Mike also owns Newcastle United football club. They now live in a multimillion pound mansion in London's posh Belgravia. Part of the Daily Mail, The Mail on Sunday & Metro Media Group. The company also pointed out that he is not listed as a director of any Sports Direct businesses, although he is a director of a handful of private businesses owned by Mr Ashley through his Mash web of companies. Mikes parents, Keith and Barbara, believed in their 18-year-old son so much they mortgaged their Burnham bungalow in 1982 to raise 10,000 to help him buy his first shop. Prince Andrew has 'offered to manage prestigious Royal estates including Balmoral but King Charles has told PLATELL'S PEOPLE: Yes, Madonna toyboys are fun but not if you value your dignity. Listed on Forbes as Britain's 20th richest and the world's 782nd richest man in 2017. As part of the original flotation agreement, each key senior management team would receive the same bonus and pay while employed by Sports Direct. Sporting a mahogany tan and freshly cut bouffant blonde hair, she wore diamond jewellery and showed off toned legs in a short white dress and laced ankle boots. After their divorce interior designer Mrs Ashley, who is mother of the billionaire's three children, went on to have a relationship with businessman Simon Brodin, an ex-boyfriend of S Club 7 pop star Rachel Stevens, and had a son, Tyler, now 12, by him. Ashley's actions and subsequent media coverage of fan reaction saw the creation of a new organisation, the Newcastle United Supporters Club, to properly represent fan's views to any future board. This does not affect our editorial independence. Derbyshire based group Sports Direct International Plc, with headquarters in Shirebrook, has over 400 UK stores including the chains Sports World, Lillywhites (acquired in 2002) and Gilesports. The parents who fear their 11-year-olds will be scarred for life by the graphic sex education lessons that Two Insulate Britain protesters are jailed for contempt of court after they defied a judge's orders not to 'Derek fights on, it makes me fall in love with him all over again:' Kate Garraway reveals there are days French authorities fear 'narco-tourists' could flock to Normandy beaches after 'more than two tonnes of Hopes for cervical cancer vaccine after trials in mice showed it reduced tumours 80 per cent of the time. To inquire about a licence to reproduce material, visit our Syndication site. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. [32], As the transfer window closed at midnight on 2 September, rumours started to appear in the press stating that Keegan was extremely unhappy with Director of Football Dennis Wise's interference in team matters. Mike Ashley has three children - two daughters and one son - with ex-wife Linda. Since then the company has been forced to pay 1m in back pay to staff and offer more staff guaranteed working hours. [68], In February 2020, Ashley bought a 12.5 per cent stake in Mulberry, said by a business journalist for The Times to be worth around 19 million. The parents who fear their 11-year-olds will be scarred for life by the graphic sex education lessons that Two Insulate Britain protesters are jailed for contempt of court after they defied a judge's orders not to 'Derek fights on, it makes me fall in love with him all over again:' Kate Garraway reveals there are days French authorities fear 'narco-tourists' could flock to Normandy beaches after 'more than two tonnes of Hopes for cervical cancer vaccine after trials in mice showed it reduced tumours 80 per cent of the time. How remorseless Stephen Bear continued his arrogant antics up until Martin Robinson, Uk Chief Reporter For Mailonline, Do not sell or share my personal information. It will join the fleet of corporate vehicles, which includes a helicopter Mike Ashley uses to fly to work. But her then husband continued to drive his well-worn Vauxhall Cavalier, but thisdidn't last forever, however, because Mr Ashley traded it in for a new Ford Sierra a few years later. My immediate priority will be to protect the people at Sports Direct.. The waitresses were amazed when he ordered 100 bottles of Cristal and proceeded to hand them out to clubbers and spray them over his friends, an onlooker remembered. Matilda is Ashley's youngest daughter. She and her daughter Anna, who both describe themselves as property developers, are also listed as directors of a company called RAAA, which has also been dissolved. Royalties and other fees may be paid to Double Take, but not until after 2019. The profit slump has hit shares hard, with shares down over 7% at close to 10.20 a.m. GMT (5.20 a.m. The Financial Reporting Council said it had discussed certain issues with the company following its review of the 2015 annual report and accounts. The neighbourhood wasnt bad: David and Victoria Beckham owned one of the nearby estates. [56], Mike Ashley has since been engaged in various legal battles with the Premier League,[57][58] after Newcastle United released a statement saying that "the club and its owners do not accept that Premier League chief executive Richard Masters and the Premier League have acted appropriately" in relation to their conducting of the Owners' and Directors' Test. [23], Ashley turned whistleblower on industry rivals in 2000, handing the Office of Fair Trading evidence of business meetings held by sports retailers to fix the price of football shirts. [12], Ashley has made his money by buying brands. Looking for Matilda Ashley online? A former friend says Linda would have a big party for her birthday every year. His eldest, Anna, is a property developer who also sits on the board of her dad's company Frasers Group - parent of Sports Direct, House of Fraser, Flannels, and other retail brands. Sports Direct chairman Keith Hellawell blamed an "extreme political, union and media campaign" for the profit slump, saying it has "damaged its reputation and influenced our customers." We are no longer accepting comments on this article. Like her sister, Matilda, 19, has inherited her mothers good looks. In that time, he and Linda who wed in her native Sweden in 1989 have been married for 14 years, separated for 14 more and are now said to have rekindled their relationship. Of course, going out with the boss's daughter is a tried-and-tested route to career advancement. Matilda launched her Double Take firm in 2015. How Prince Harry's chat with guru who compared Hamas terrorists to Jews who battled the Nazis has appalled JAN MOIR: Goodbye Ken, the world always seemed safer with you on the airwaves, Abstaining from masturbating RAISES risk of anxiety, depression and erectile dysfunction, study warns. He now lives with Miss Ashley in a flat in Chelsea, just a stones throw from Harrods and not far from where Mr Ashley made a 200m investment in John Lewiss former Peter Jones warehouse. Even the Ashleys animals get the luxury treatment. He has amassed an enormous retail . Demand for English language and upskilling courses set to continue boosting education publisher Pearson sales as Mother-of-two is fined 100 for overstaying 15-minute limit as she queued up for a car wash - an hour after Rightmove shrugs off housing market blues with dividend hike as profits near 200m despite slowdown, Taxi driver gets 60 parking fine after stopping outside McDonald's for 47 seconds to pick up a customer. As a sole trader and not having to file accounts at Companies House, little was known about him. Mike Murray, who is in a relationship with Mr Ashleys eldest daughter, Anna, has to find new sites for Sports Direct and locations for the companys chain of gyms, which have stores attached. Visit your local Champs Sports at 15555 East 14th Street in San Leandro, California to get your head-to-toe hook up on the latest shoes and clothing from Jordan, Nike, adidas, and more. [40], On 27 October, Ashley took Newcastle United off the market after again failing to find a suitable buyer for the club. Sports Direct issued the statement after reports that Murray had been appointed as a director to companies connected to Ashley. Change? On 6 December, Newcastle United sacked manager Chris Hughton, in a controversial move that proved to be unpopular with many fans of the club,[45] and led to Ashley being personally criticised for the decision. Me and Mike are working like a partnership.". The latter can be worth up to 1 million. What is his net worth? By clicking Sign up, you agree to receive marketing emails from Insider This is not the first deal to involve members of Ashleys family. Her billionaire father also clearly has a soft spot for her partner, and has taken the role of indulgent 'father-in-law' to a new level, by giving Murray a key consultancy role on a new 250 million property arm within his sportswear empire. Having studied at a trendy London music school, Mikes son, Ollie, 26, works as a DJ, by the name of DJ Exotica. And after a 12-year break it is also confirmation they are back together - but despite the rekindled romance MailOnline understands they still live in separate mansions just a mile apart. [52], Ten months later, and with the departure of McClaren and the arrival of Rafael Bentez, Ashley gave another interview. On 28 December, Ashley announced that the club was no longer up for sale, after he had failed to find an acceptable buyer. While Linda's jet-set personal life sounds idyllic, some of her more recent business ventures appear to have hit some obstacles. It needs a board that is capable of standing up to him so that the normal checks and balances that apply to most companies are in place.. We do not write articles to promote products. People used to crash out overnight on the sofas, she adds. The maximum Murray can be paid is 25% of the increased value. I've had enough of life': Grandmother, 86, is reduced to tears after killjoy Tory RICHARD LITTLEJOHN: As Florida governor and Donald Trump rival Ron DeSantis steps up his bid to win the Hairy Bikers star Dave Myers speaks out on his deep depression after chemotherapy which left him having 'How I snatched JK Rowling's baby out of her abusive husband's arms - and helped her flee with the Harry Top equestrian rider, 39, once known as the 'golden girl' of horse eventing, is facing jail after being A possum feared extinct is discovered by an amateur naturalist in Papa New Guinea being cooked on a Now California reparations panel RAISES amount it wants to give 1.8m black people from $220,000 to $360,000 My weekly horoscope: What will March 4th 2023 bring for MY star sign? From 675 Louboutin ankle boots to 1,000 Missoni beachwear and 200 Dolce & Gabbana sunglasses, she always looks the part. Michael Ashley is a billionaire English retailer with a net worth of $6.3 billion. We thought about renting it out for parties as well. He used to work as a nightclub promotor before overseeing his future father-in-law's personal property portfolio. Hellawell said the directors accepted responsibility for our shortcomings, but there has also been disproportionate, inaccurate and misleading commentary. She appears to have a similar sense of humour to her gruff father, beibg photographed recently in a pink frock accessorised with a sash saying 'Miss F***ing World'. Ashley said his long term ambition for Sports Direct was to become the Selfridges of sports retail. ET): Murray bought a property in Belgravia for 10.75m in June 2013 with Ashley lending him money for the deal. The company controls 443m of property, plant and equipment. [73] The couple quietly divorced in 2003, culminating in one of the biggest settlements in British legal history, with Ashley reportedly handing over the family home, multiple properties and assets with a total worth of 50m. How Prince Harry's chat with guru who compared Hamas terrorists to Jews who battled the Nazis has appalled JAN MOIR: Goodbye Ken, the world always seemed safer with you on the airwaves, Abstaining from masturbating RAISES risk of anxiety, depression and erectile dysfunction, study warns. [39], After the club's relegation, Ashley struggled to find a buyer capable of providing proof of funds to purchase Newcastle United throughout August and September 2009, local businessman Barry Moat was reported to have opened negotiation talks with Ashley. Hellawell questioned whether this "intense scrutiny is all ethically motivated," saying: "The Board accepts responsibility for our shortcomings, but there has also been disproportionate, inaccurate and misleading commentary.". Since Sports Direct International Plc went public, and his purchase of Newcastle United where he took to sitting in the stands with fans, Ashley took on a more public and accessible persona. [61] The Scottish Football Association rejected Ashley's request to raise his shareholding in RIFC to 29.9%, due to the fact he already owned a large amount of Newcastle United shares, which was seen as a conflict of interest. Matilda owns a second Chelsea mews house on an adjoining street, which she bought last September for 5.1 million in cash. Plastic surgeon reveals five cosmetic procedures she would NEVER get - from dangerous Brazilian butt lifts BEL MOONEY:Why does caring for my dad take over my life? [49][50], On the final day of the 201415 season, Ashley gave his first televised interview to Sky Sports, eight years after buying the club. Mr Ashley started Sports Direct 34 years ago with a 10,000 loan from his parents. Want to bookmark your favourite articles and stories to read or reference later? . Guests arrived by yacht and chauffeured car, while caterers were seen ferrying supplies up the clifftop. Prince Andrew has 'offered to manage prestigious Royal estates including Balmoral but King Charles has told PLATELL'S PEOPLE: Yes, Madonna toyboys are fun but not if you value your dignity. Ashley is the 59th richest person in Britain, and has an estimated fortune of 2.995billion, according to The Sunday Times Rich List. He also felt that Bentez was the right man to keep the club in the Premier League. Retro football shirt fever has exploded, says LEE BOYCE: Is it a fightback from fans over expensive replica kits? Mrs Ashley has a lavish seven-bedroom house and two properties for staff boasting a further four bedrooms. The retailer said its profit margins had been hit by the pounds sharp decline since the Brexit vote. Barlin processes international sales for Sports Direct and the arrangement is under investigation by City watchdogs. He added: I begin to question whether this intense scrutiny is all ethically motivated.. Management meetings are frequently held in the nearby Lion Hotel, and can last until 3am. Speaking on Radio 4s Today programme, Simon Walker, director general of the Institute of Directors, said the company was making changes, but that they did not go far enough. [33] Keegan drove to Manchester to consult with the League Managers Association chief-executive Richard Bevan; while in this meeting it is thought Ashley found out from Llambias of the row and attempted to contact Keegan. Under the terms of UK takeover law, having purchased more than 30% of a listed company, he was obliged to make an offer to buy the remaining shares at the same or a greater price. Considering the importance of Mr Murrays role to Sports Directs future, shareholders and other employees deserve to know more about this appointment.. Revealed: how Sports Direct effectively pays below minimum wage, Original reporting and incisive analysis, direct from the Guardian every morning. Its become custom for top-performing Sports Direct staff to be rewarded with a stay at the bosss chalets, complete with private chef, and Mike, a keen skier, likes to go along, too. A. [19], In late November 2006, a number of business newspapers reported that Ashley was looking at an IPO of Sports World International. According to The Sunday Times Rich List in 2021, Ashley is the 61st richest person in the UK with an estimated net worth of 2.718 billion. SHARE OF THE WEEK: Darktrace's Poppy Gustafsson faces questions about company's financial health when she As chip designer Arm chooses to float in US Ex-chancellor warns London stock market now 'less attractive'. They previously lived at a mews house in Chelsea, which was sold for 5.7million in cash in September to Miss Ashley's 19-year-old sister Matilda. Ashley said: The last six months have been tough for our people and performance. They would get caterers in and have a marquee. Matilda Ashley's make-up range SportFX was launched last year with the help of reality-TV celebrities, such as Made in Chelsea's Louise Thompson His daughter Matilda's make-up business,. Here are the brands Frasers Group owns. Have we let energy giants make too much profit? But fast forward 30 years and Mike, the tycoon who founded Sports Direct and owns Newcastle United football club, has become a notorious and highly controversial figure while raking in vast amounts of money from his myriad businesses. Ashley Furniture HomeStore. Ashley appointed Joe Kinnear to take temporary full-time charge of the squad as he began his search for a new owner. He stated that he regretted buying Newcastle United, but admitted that he was "wedded" to the club. The company has appointed investment banker David Brayshaw as a non-executive director. Its a start and it has to be a good step, but they continue to have real problems., He noted that Sports Directs share price had more than halved since last December, from 650p. On 1 April, Ashley appointed Alan Shearer to replace Kinnear as interim manager. Michael Murray, engaged to Mike Ashley's daughter Anna, is currently head of elevation at Frasers Group. Sports Direct's trophy assets include the prestigious Lillywhites sportswear emporium at Piccadilly Circus, and world-famous brands including Dunlop, Everlast and Slazenger. An undercover Guardian investigation last year exposed how Sports Direct workers were being paid less than the minimum wage. It is an extraordinary turnaround for Mr Ashley, 51, who was said to have been heartbroken after the 2002 split with his wife of 14 years. Mike Ashley has three children - two daughters and one son - with ex-wife Linda. "The board consider it appropriate that Michael leads us forward on this increasingly successful elevation journey.". However, by paying Murray as a consultant and not directly employing him, Sports Direct does not have to make the same financial and regulatory disclosures. 6195 Coliseum Way, Oakland, CA 94621. The billionaire does not even have his own office but holds court from a desk in the middle of an open-plan office, where he sits until around 2am on some days. The company has also done a deal with a beauty company run by the youngest daughter of Mike Ashley, the billionaire founder of the company. Some links in this article may be affiliate links. "[41] The move to withdraw the sale proved questionable among many as he had stated little more than a week before that he regretted the purchase of the club and felt he never had the required stance and knowledge to own a football club. He should focus his energies on reforming his business, instead of blaming those who have held him to account in the name of the public interest.. He alluded to their alliance in an interview with The Guardian in 2019, saying: "I'm thinking about the next 10 to 20 years. However, after the departure of Kevin Keegan as manager and the club's relegation, he has only made low key appearances when attending Newcastle matches. He has amassed an enormous retail . Ashley HomeStore - East Bay Bridge. Join thought-provoking conversations, follow other Independent readers and see their replies. They separated in 2010 Simon now lives in a 3.5 million home in London and Tyler, 12, is thought to live with his mother. The comments below have not been moderated. Today, Barbara, 78, and Keith, 74, still live in the same house. Shes more of a party girl enjoying holidays on chartered yachts in the Mediterranean and jaunts to St Tropez, Miami and Magaluf with a close-knit group of friends. He was formerly the owner of Newcastle United football club . EXCLUSIVE: Head teacher of leading grammar school is sacked for sending parents a list of striking teachers. That is what I am now trying to do. Never mind that most of the tracksuits and training shoes he sells are worn by unsporty couch-potatoes rather than gym bunnies, or that the rough-diamond entrepreneur has been nicknamed The Chav King of the High Street. Loose or informal governance arrangements have the potential to surprise investors, something they would rather avoid. After considering a takeover, Ashley took a 9million stake and signed a long-term deal with Umbro. Along the way, Mr Ashley has been dogged with controversy particularly over allegedly 'Dickensian' working conditions at the company's main warehouse in Shirebrook, Nottinghamshire. [31], On 30 August 2008, Ashley was shown on live television drinking beer while with fans in the away stand during Newcastle's game against Arsenal in London, contravening Premier League licensing rules stating that alcohol may not be consumed in sight of the pitch. Its products sold in her fathers stores include 24.99 mesh leggings and 9.99 sports mascara. Mr Ashley once presenting his wife Linda with a stunning Aston Martin DB4. Accompanying him to the business select committee meeting to face MPs questions about Sports Direct back in June, Mrs Ashley showed off her new polished look. His eldest daughter Anna is married to Michael Murray, who has an influential role at Ashley's Sports Direct to House of Fraser retail empire. If I get married again, I'll marry here. [53] On 11 May 2016, Newcastle United were relegated for the second time under the ownership of Ashley, after local rivals Sunderland beat Everton 30. The budget sportswear retailer has also struck a licensing deal with makeup brand SPORT FX, which is owned by a company where Matilda Ashley is a director. Now we step inside the breathtakingly extravagant world of the Flashy Ashleys . However, Mr Murray has no property experience, according to Companies House, and his only business acumen is running student party events at Reading University, where he used to study. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking delivered daily to your inbox. Witch, Harridan, Harpy, and new insults like Karen and Terf. [11] In mid-2006, it was also revealed that Ashley had held talks with John Hargreaves, founder of Matalan on both taking a 25% stake in the retail business and installing mezzanine floors in larger Matalan stores, on which Sports World outlets could be operated. He made his money in the sporting goods business through his retailing group Sports Direct. Sprawling home where JonBenet Ramsey was found murdered in 1996 is listed for sale for $7 MILLION by current Royal Mail increase price of first class stamp by 15p to 1.10 in record-breaking hike. Neil Craven, Financial Mail on Sunday, Tycoons who built Asos into a 5bn empire: Shares in the online retailer surge after it snaps up Topshop and Miss Selfridge, Mike Ashley's Frasers to buy back 60m of its own shares despite warning of 200m hit from Covid. Ashley is the 59th richest person in Britain, and has an estimated fortune of 2.995billion, according to The Sunday Times Rich List. Mike's other daughter Matilda owns a cosmetics business while his son Oliver is a DJ. Ashley founded Sports Direct in 1982 when he was 18 , and today owns over 60% of the group that has grown to some 769 stores across 25 countries. After their divorce, Linda kept the home and Mike moved into a 33-room pillared mansion down the road, bought in 2005 for 12 million. The statement also outlines how Sports Direct had linked with Double Take, a company owned by Mike Ashley and of which his daughter Matilda is a director, for a new cosmetic brand called Sport FX. Michael James Wallace Ashley (born 9 September 1964) is a British billionaire retail entrepreneur focused in the sporting goods market, and the chief executive of Frasers Group Plc (formerly Sports Direct International). So, Mike Ashley, can we handle the truth? [55] However, on 30 July 2020 the consortium pulled out of the buying process, citing the prolonged delay from the Premier League to communicate a decision as causing their acquisition of Newcastle United to become untenable. His family enjoys all the trappings of his vast wealth, and it appears he may be an old romantic too because he has always 'adored' his ex-wife. He also admitted that 'too many' of his company's agency staff were employed on zero-hours contracts. [26] On 7 June, it was confirmed that chairman Freddy Shepherd had agreed to sell his 28% share to Ashley, which left Ashley free to take control of the club. Double Take a cosmetics company owned by Mike Ashley and where 20-year-old Matilda Ashley is a director is licensing the rights to a beauty brand called Sports FX to Sports Direct. But soon this wasnt roomy enough for his growing family son Oliver was born in 1990, daughter Anna in 1991 and Matilda in 1997 and in 1993 Mike and Linda upscaled to a 5 million house with landscaped gardens, another outdoor pool and staff accommodation in upmarket Totteridge, North London. Ashley was also forced to defend himself in January after he gave his daughter's boyfriend a 10 million loan on behalf of the company and a high-powered job managing property for Sports Direct. Brayshaw has more than 30 years experience with firms such as Barclays Capital, HSBC, Citigroup and glass manufacturer Pilkington and said he was delighted to be joining the board of one of the UKs most dynamic companies. Mrs Ashley's mansion appears to be on the market at the moment - and some newspapers have suggested that Mr and Mrs Ashley could marry again. The financial reporting watchdog noted that there was no discussion of Sports Directs international stores, which are a significant part of its business. By Neil Craven, Financial Mail on Sunday. He adores her and always has. WHEN Mike Ashley met his wife, Linda, a swedish-born economics graduate, in 1986, he was a lowly squash coach working in a sports shop in Maidenhead. Sports Direct tycoon Mike Ashley has pledged financial support for his daughter's cosmetics company following its fifth consecutive year of losses. [43] On 4 November, it was announced that Ashley's own company would sponsor the stadium, rebranding it the "sportsdirect.com @ St James' Park Stadium" until the end of the season.[44]. Last week, Sports Direct bowed to growing pressure over its employment practices and announced it would increase the pay of thousands of staff on the minimum wage by 15p an hour. Michael Murray to lead UK and international property team of the controversial sporting retail company. [74], Ashley is protective of his private life. Previous gigs include playing for Saudi royalty in Dubai, and in 2014 he set up an internet radio station, called Radar Radio. Both properties are in Linda's name, as is a cliff-top home in Majorca. Ashley's popularity increased further with the return of Kevin Keegan as manager on 16 January 2008,[30] to replace the previous regime's relatively unpopular choice Sam Allardyce.
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