Tonight:
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The war of words between JJB Sports chairman Sir David Jones and retailing arch-rival Mike Ashley spilled over into today's JJB annual meeting at which Ashley was accused of “factually incorrect” allegations.
The meeting, at which shareholders were told of a horrendous 40% collapse in JJB sales, was ambushed by Ashley representatives, who added further fuel to the simmering animosity between Jones and Ashley.
Ashley, the controlling shareholder of rival Sports Direct, is a 10% shareholder in JJB and was previously a major supplier of sportswear to the company when his friend Chris Ronnie was JJB's chief executive.
However, that supply relationship ended when Jones, the former boss of Next, became JJB's executive chairman earlier this year and ousted Ronnie.
Ashley's representatives today demanded to know why JJB is no longer taking Sports Direct's brands like Champion. Jones said JJB is no longer interested in formerly stocked brands which he indicated had contributed to JJB's poor sales performance. Later, asked by a private shareholder about his apparent conflict of interest in having a £1.5 million outstanding private loan with Ashley, Jones said there is no conflict as JJB has no commercial relationship with Sports Direct or Ashley.
Earlier in a statement at the meeting JJB said the reports surrounding the loan “has been made with a view to destabilising” JJB.
Two of JJB's three non-executives, who the Evening Standard revealed had not been told of Jones's loan arrangements, today left the company. One non-executive has been hired to replace them: John Clare, former Dixons boss.
Whelan dealin' a sharp blow to Ashley with book
Dave Whelan is threatening to lift the lid on Mike Ashley's business antics.
The JJB founder is preparing to launch an autobiography Playing To Win which claims to be “a combination of sporting memoir and business blueprint from one of football's most outspoken chairmen and the British High Street's most successful entrepreneurs”.
The publishers are also promising the sort of clash that ended Whelan's footballing career on the turf of Wembley — a tackle which prompted him to go into business with JJB and subsequently extend his business interests to taking control of Wigan Athletic FC.
Playing To Win, says Aurum Press which publishes the book next month, has Whelan “tackling head-on his long-standing rivalry with Sports Direct and Newcastle United owner Mike Ashley”.
Whelan is known as an outspoken character who rarely pulls his punches.
