This is an accepted version of this page Michael James Wallace Ashley (born 9 September 1964)[5] is a British retail entrepreneur who is the founder and former chief executive of Frasers Group plc (formerly Sports Direct International).

[citation needed] Sports Direct acquired a 38.5% stake in retailer Game Digital[24] and, in June 2019, Ashley placed a £52 million bid to buy The Times.

[24] In February 2020, he bought a 12.5% stake in Mulberry[25] and, in August, his Fraser Group purchased assets from DW Sports Fitness in a deal worth up to £44 million.

[26] The group initially bought 46 leisure clubs and 31 retail outlets from DW Sports Fitness for £37 million to merge with its own business.

[28][29] In 2000, Ashley gave the Office of Fair Trading evidence of business meetings held by sports retailers to fix the price of football shirts.

At a meeting held at Allsports' chairman David Hughes' home in Cheshire, Dave Whelan reportedly told Ashley: "There's a club in the north, son, and you're not part of it.

[32] On 31 January 2010, an episode of BBC North East and Cumbria's Inside Out, titled "Mike Ashley Uncovered," journalist and host Chris Jackson travelled to Thailand to visit Lonsdale's factories.

[citation needed] In 2016, he was ordered by the Department for Business, Innovation and Skills to investigate working conditions at a Sports Direct warehouse in Shirebrook following allegations of misconduct.

[37] On 20 December 2024, Mike Ashley faced rejection from Boohoo shareholders in his bid for a board seat, with 64% voting against his appointment during a meeting in Manchester.

Despite Frasers Group holding a 27% stake as Boohoo's largest shareholder, the online retailer cited "irreconcilable conflicts of interest" in opposing the appointments.

[38] On 23 May 2007, Ashley bought Sir John Hall's 41.6% stake in Newcastle United at one pound per share, for a total cost of £55,342,223 via his company St James Holdings Ltd.

Under the terms of UK takeover law, purchases of more than 30% of a company require the buyer to offer to buy remaining shares at the same or greater price.

Sunderland publicly refused to give Ashley permission to wear his team shirt in the Stadium of Light corporate box for the Tyne–Wear derby on 10 November.

[45] On 30 August 2008, Ashley was shown on live television drinking beer while with fans in the away stand during Newcastle's game against Arsenal in London, contravening Premier League licensing rules stating that alcohol may not be consumed in sight of the pitch.

[51] After a trip to the Middle East, reportedly to solicit potential buyers, Ashley handed responsibility of the club's sale to a London law firm.

On 24 May, Newcastle United was relegated to the Championship; the following day, Ashley apologised to fans for mistakes made throughout the season and praised the staff, including Shearer and Kinnear, for their efforts.

[66] Within ten months, McClaren left and was replaced by Rafael Benítez, and Ashley gave another interview, where he reiterated his regret about buying the team but admitted that he was "wedded" to the club.

[68] During the final stages of buying the club for £300m from Ashley in April 2020, a consortium consisting of PCP Capital Partners, Reuben Brothers, and the Public Investment Fund of Saudi Arabia received notification from the Premier League that they were required to undertake the Owners' and Directors' Test to prevent corruption.

[75] The Scottish Football Association rejected Ashley's request to raise his shareholding to 29.9% due to the fact he already owned a large amount of Newcastle United shares, which was seen as a conflict of interest.