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Billionaire Michael Ashley Sells Mansion in Miami Beach for $45M

Michael Ashley, the billionaire founder of U.K.-based clothing chain Sports Direct, the largest sports retailer in the United Kingdom, and owner of English Premier League football club Newcastle, recently sold his 11,795-square-foot mansion on Miami Beach’s exclusive La Gorce Island for $45 million.

According to Forbes, Ashley is the 15th-richest person in the United Kingdom with a net worth of $3.5 billion. Sports Direct, which trades on the London Stock Exchange under “SPD,” sells sneakers and sports apparel in 440 stores in the U.K. and 220 in continental Europe. On March 22, Ashley was quoted in The Times newspaper in the U.K. saying that Sports Direct was “in trouble” and can’t make the same profits it made the year before.

Ashley purchased the property in June 2013 for $30 million. At the time, it was the most expensive property known to have changed hands on La Gorce Island.  Ashely selling his massive Castello del Sol home for $45 million means he scored a $15 million return after three years.

Records show Mash Miami bought Castello del Sol. The buyer, Mash Miami Inc., is operated by London-based Michael P. Murray, according to Miami-Dade County property records. London-based Michael P. Murray is director and president of Mash Miami. Murray reportedly dates Ashley’s daughter and was recently given a role in the billionaire’s U.K.-based company, The Guardian newspaper reported. The deal closed April 1.

Castello del Sol

The Castello del Sol estate is classic Miami opulence — a gated Mediterranean-style compound built in 1998. The 70,000-square-foot lot has four buildings — a guest house, staff quarters, and guard house in addition to the main house.

Located in an exclusive guard-gated enclave jutting out from Miami Beach, Castello del Sol, is tucked behind massive banyan trees and black gates donning a smiling golden sun. Castello del Sol encompasses just under two acres (1.62 acres) on La Gorce Island. The estate boasts 349 feet of Biscayne Bay waterfront including three teak docks with enough room to park a large yacht.

The grounds features a lagoon-style pool that winds around the compound’s interior courtyard, sporting a waterfall and a swim-up bar. The property also hosts a lighted tennis court, a gym, a one-bedroom guest house, a two-bedroom staff apartment, and on-property guard house.

This beautiful home features nearly 17,000 square feet of space with 11 bedrooms, 14 full & 3 half bathrooms, a double kitchen, a library, a theater, a gym, a safe room, and a rooftop lounge overlooking the bay and downtown Miami. The house also features hand-painted ceilings, a massive glittering chandelier-bedecked a three-story rotunda, and gold leaf accents throughout the home add to its opulence.

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