Mike Ashley admits he was behind video that brought down JD Sports chair
Summary
Mike Ashley, founder of Sports Direct, admitted he arranged secret video footage that caused Peter Cowgill, former chair of JD Sports, to be removed. The footage showed Cowgill in a restricted meeting during a company takeover, leading to a regulatory investigation, fines, and Cowgill’s ousting.Key Facts
- Mike Ashley is the founder of Sports Direct and owns 73% of its parent company, Frasers Group.
- In 2021, Peter Cowgill, JD Sports chair, was secretly filmed in a car with Barry Bown, Footasylum's boss.
- JD Sports and Footasylum were in talks about a takeover and were not allowed to share sensitive information.
- The secret video led to a regulatory investigation and fines totaling almost £5 million.
- Peter Cowgill lost his position as JD Sports chair after the investigation.
- Ashley admitted he arranged the video filming and wanted to remove Cowgill.
- Ashley said he believed Cowgill knew the risks of the meeting but attended anyway.
- JD Sports and Footasylum chose not to comment on the situation.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.