Partner Article

Cloud lifted over Ashley’s empire

A SERIOUS Fraud Office investigation into alleged anti-competitive practices at the sportswear chain controlled by Newcastle United owner Mike Ashley is to end with no further action to be taken.

A statement from Sports Direct said the Serious Fraud Office (SFO) will shortly confirm that its investigation into Sports Direct International and JJB Sports has been completed and it has decided that no charges are to be brought against the companies or any companies within their corporate groups.

However, the Serious Fraud Office’s investigation into individuals continues. Sports Direct, the company controlled by Mike Ashley, the owner of Newcastle United football club, has been at the centre of an investigation into alleged anti-competitive practices.

Representatives from the Office of Fair Trading and the SFO visited Sports Direct’s head office in September 2009 as part of their investigation into a suspected overarching agreement to dampen competition in the sports retail market.

This was posted in Bdaily's Members' News section by Ruth Mitchell .