LONDON (Reuters) - Britain's biggest sporting goods retailer Sports Direct (>> Sports Direct International Plc) confirmed on Wednesday its founder Mike Ashley had sold a 2.6 percent stake in the company, raising 110 million pounds.

Shares in the firm were down 4.5 percent in early trade after Goldman Sachs (>> Goldman Sachs Group Inc) said late on Tuesday it was conducting the sale on Ashley's behalf.

Ashley sold 15.4 million shares at 720 pence per ordinary share, Sports Direct said, a 5.3 percent discount to Tuesday's close of 760.5p.

The sale sees Ashley's total stake in Sports Direct fall from 57.7 percent to 55.14 percent, the company said.

(Reporting by Neil Maidment; editing by Sarah Young)

Stocks treated in this article : Goldman Sachs Group Inc, Sports Direct International Plc