Ashley Facing War On Two Fronts!

Last updated : 10 September 2008 By Footy Mad - Editor

Investors in Mr Ashley's stock market-listed retail group Sports Direct International are being urged to vote against pay proposals for executives at its annual shareholder meeting.

Toon fans are pledging to boycott his Sports World stores and are also said to have told Mr Ashley not to attend away games.

Now investor advisory group Pirc has slammed Sports Direct's bonus plans in yet another blow to the group, which has had a troubled history in the City since flotation in February last year.

Ashley, who owns 72.2 per cent of Sports Direct shares, is expected to face shareholders at the company's offices near Mansfield today.

Sports Direct, which owns Lillywhites and owns brands including Lonsdale and Slazenger, has been hammered over corporate governance issues since taking the firm public.

It has been criticised for its lack of communication with the City, failing to offer regular like-for-like sales figures, which strip out the effect of new store trade.

Its financial performance has also come under fire and the group reported in July that annual pre-tax profits more than halved to £85 million from £174.5 million the previous year.