Like Sports Direct's founder, Mike Ashley, Nigel Doughty is unlikely to put Steve McClaren at the top of his Christmas card list this year.

It is also doubtful that Mr Ashley will be receiving Yuletide greetings from Mr Doughty after Umbro, the sportswear maker he chairs, issued its second profit warning in a month because customers such as Sports Direct refused to buy supplies of replica England shirts, now near worthless after the failure to qualify for the European Championship.

It is a rare embarrassment for the reclusive Mr Doughty who this week, in his other guise as joint founder of private equity firm, Doughty Hanson, saw it triple its investment in Möller Group, a German electrical group, it bought into two years ago.

Red faces aside, Umbro is likely to be sold off to Nike, netting Mr Doughty about £6million to add to his fortune, of between £120 million and £170 million.

An exit from Umbro, which Mr Doughty invested in eight years ago and helped to lead through its flotation in May 2004, will give the Newark-born entrepreneur more time with his beloved Nottingham Forest.

Since taking over the football club in 1999, 49-year old Mr Doughty, who watched his first Nottingham Forest game aged six, has pumped £32 million into the club, much of it his own money.

While his intentions are clearly heartfelt, some would argue that his contribution to Nottingham Forest has not made such a difference to the club which is currently struggling to escape the first division, the third tier of English football.

Mr Doughty makes much of his desire to stay out of the spotlight in keeping with Doughty Hanson's reputation as “Britain's most secretive private equity firm”, but that doesn't mean he isn't a shrewd operator.

He is a Labour supporter who donated £750,000 to the party over two years and recently pulled no punches in a legal dispute with a former Doughty Hanson partner, who claimed his stake in the firm was worth £100 million.

He sued. Doughty Hanson counter-sued on the basis that the stake was worth £9.3 million. They won.

Mr Doughty is married and has three children.

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