Archive for tag: Sports Direct.

Ashley faces the prospect of being banged up.

September 11th, 2009 | 18 Comments |

Innocent?
Innocent?
Mike Ashley could find himself doing a spell of porridge if the investigations by the Serious Fraud Office turn up anything untoward.

Acting on a tip-off from JJB Sports, the Office of Fair Trading and the Serious Fraud Office raided Ashley’s Sports Direct offices following allegations of fraud and price-fixing.

JJB’s own offices were raided too but they’ve allegedly been offered immunity from prosecution in return for their cooperation. JJB reported Sports Direct to the OFT in January a few days after it suspended Chris Ronnie, its CEO and a former friend and employee of Mike Ashley.

It all sounds a bit tit-for-tat because in 2000 and 2001 it was Ashley pointing the finger at JJB Sports, landing the company a £6.7m fine for its price-fixing activities, for which I assume they were less than grateful. However, since then price-fixing has been declared a criminal activity and is punishable by up to 5 years in the clink and an unlimited fine so, if guilty, Ashley is likely to face a much harsher penalty than a mere £6.7m fine. (more…)

With Newcastle United, the pen is mightier than the sword!

July 2nd, 2009 | 16 Comments |

The clue is in those three words Mr Lovenkrands
The clue is in those three words Mr Lovenkrands
I’m sort of chuckling even as I write this. I say ‘sort of’, simply because it’s turning more from a chuckle to a kind of hysterical low mewling sound. That’s what this club is doing to me and to others. The fact that the board continue to display such incompetence and such a lack of decency and respect for those at the club and the supporters is bordering on the ridiculous.

The latest debacle is the letter Peter Lovenkrands received through the post informing him that his services were no longer required. He’d earlier gone on record as saying he’d be happy to stick around if offered the right deal. And in return he receives this unwarranted kick in the teeth. (more…)