Nov 24, 2017
Sports Direct underpaid Mike Ashley’s brother £11m, review finds
Sports Direct is asking shareholders to approve £11m in back pay for the elder brother of its founder, Mike Ashley, after an internal probe set up to scrutinise a family business arrangement found he had in fact been underpaid. John Ashley left his job as an IT director at Sports Direct in 2015 before taking ownership of a company called Barlin Delivery. The RPC review found that unlike his peers John Ashley did not receive a £5m bonus related to Sports Direct's 2007 flotation, and was excluded from a performance-related share award worth £6.8m, the review found. "If John had owed one pound to Sports Direct, Mike would have ensured any sum was repaid in full," one of the people said. The RPC probe found that John Ashley, who has since been re-hired by Sports Direct, could have received at most £167,000 from the Barlin arrangement.
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