Bert in £3m Betfair cash out
According to a regulatory filing notice issued on the 24th January; Andrew Black, one of the founders of Betfair, ‘cashed out’ £3m worth of shares on Wednesday.
In my experience there can be any number of reasons to sell shares, but only one reason to buy them. So I’m not sure a sale is that significant. Also, he still has 7,817,390 left! When Bert left the board is was a watershed moment for Betfair. It’s never been the same since.
It does’s appear however, that Bert is having a bit of a clear out. He recently announced that he was stepping back from his involvement in Swindon Town FC which he doesn’t appear to have particularly enjoyed. Don’t blame anybody from stepping out from the mayhem that is running a football club, tough business.
Category: Betfair, Industry news
