Sports Direct is finally cleared in cartel probe

Ashley: the controversial Newcastle owner and sports retailer has rebuffed claims that any of his staff are under investigation

11 April 2012

Mike Ashley's Sports Direct is finally in the clear after an 18-month Serious Fraud Office probe into alleged cartel activities as the watchdog dropped its pursuit of individuals at the firm.

The office cleared JJB Sports and Sports Direct last October, but carried on its investigation into individuals at both sportswear retailers.
Sports Direct confirmed today that none of its staff now face investigation.

However, the SFO added that the inquiry into individuals was "ongoing", shifting the spotlight back onto JJB Sports staff and its one-time chief executive Chris Ronnie.

The SFO began to probe the two companies after a referral from the Office of Fair Trading, which was concerned about the sale of branches by JJB to Sports Direct when Ronnie, an acolyte of Ashley, was in charge of JJB.

Ronnie, who left JJB amid acrimony in 2009, has always denied anti-competitive behaviour.

His legal representatives Pannone were unavailable for comment.

Sports Direct also completed a £220 million refinancing through a club of 10 banks led by HSBC, Barclays and Handelsbanken.