Sir Alan 'hired' in Amstrad buyout - July 31 2007
Sir Alan Sugar looks set to join the Murdoch empire after agreeing to sell his Amstrad business to BSkyB for £125 million.

The tycoon star of BBC's The Apprentice will make £35 million from the sale, but will remain with the Amstrad business under its proposed new owner.

He said: "I turned 60 this year, I've done 40 years of hustling in this business. I have to start thinking about my team of loyal staff, many of whom have been around me for a very long time."

Sir Alan founded Amstrad in 1968 and turned it into a household name after launching the first mass market home computer package in 1984. At its peak, the firm was valued at £1.25 billion.

The Brentwood-based company now generates around three-quarters of its revenues from the sale of set-top boxes to BSkyB, which has worked closely with Amstrad over many years.

The broadcaster - 39.1% owned by Rupert Murdoch's News Corporation - said it would benefit from an in-house design and development capability.

And Sir Alan said he could not "imagine a better home" for the Amstrad business, which supplied an estimated 30% of Sky's set-top boxes in the year to June 30.

He added that he did not think he was "letting go" of the Amstrad name by selling the firm, adding that he would still be involved.

Sir Alan is worth an estimated £830 million and ranked 84th on this year's Sunday Times Rich List, helped by his many property investments.


Sir Alan gets hired - June 27 2007
New Prime Minister Gordon Brown has hired The Apprentice tycoon Sir Alan Sugar to advise him on business.

Amstrad boss Sir Alan will sit on a special Business Leaders Council alongside other industry figures.

"I look forward to making my contribution to the Business Leaders Council, which will act as a consultative body to the Department of Trade and Industry," Sir Alan said.

"There has always been a difficulty in getting business leaders involved in direct government, due to a requirement for them to relinquish their various business holdings.

"I’m delighted that this newly formed Business Leaders Council enables myself and other business leaders to make a major contribution.

"I look forward to this new role and assisting the new Prime Minister as best I can."

Number 10 has yet to officially announce the formation of the council.

It will be chaired by private equity chief Damon Buffini and will include Marks & Spencer boss Stuart Rose and Tesco chief executive Sir Terry Leahy, according to reports.

The council will meet two or three times a year and will advise Mr Brown on whether government policy is helping or damaging Britain’s competitiveness.


Stars hunt for new business talent - May 18 2007
Sir Alan Sugar and Jamelia are set to join a host of stars to find the next generation of go-getting entrepreneurs.

Rapper Lady Sovereign and Destiny’s Child’s Kelly Rowland are among the celebrities who have come up with a business idea to inspire young people in the competition run by Make Your Mark, the national campaign to create a youth enterprise culture, the Daily Mirror reports.

Co-ordinator Scott Cain urged youngsters to take part, saying: "We want to hear those ideas and crazy schemes you’ve had buried in your head and never done anything about."