finance
Mike Ashley Admits Role in Secret Video That Led to JD Sports Chair's Ouster
Sports Direct founder Mike Ashley said associates in his employ recorded footage of Peter Cowgill meeting Footasylum boss Barry Bown in 2021. The video prompted a regulatory investigation, nearly £5m in fines and Cowgill's departure from JD Sports. Ashley stated he wanted to remove Cowgill and described the episode as part of longstanding business conflicts.
May 10, 11:09 AM·1m read1 source
The GuardianAudio version
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Sports Direct founder Mike Ashley has admitted he arranged the secret recording of a meeting that contributed to the removal of Peter Cowgill as chair of JD Sports. Cowgill was filmed in 2021 while sitting in a car with Barry Bown, then boss of Footasylum.
At the time JD Sports was seeking to acquire the trainer retailer and the two companies were barred from sharing commercially sensitive information.
The footage was later seen by the Sunday Times. The recording triggered an investigation by the competition watchdog. The probe ended with fines of almost £5m and Cowgill's ouster from JD Sports. Ashley told the Financial Times he was not hiding the fact that he wanted to topple Cowgill.
Associates in his employ recorded the video, Ashley said. "No one is perfect," he stated.
He stepped down as chief executive of Frasers Group, formerly known as Sports Direct, in 2022. He retains a 73% stake in the company, which he started in 1982 from a single sports store in Maidenhead, England, with £10,000 provided by his parents. The group now includes House of Fraser, Flannels and Evans Cycles among its businesses.
Ashley has described most conflicts in his career as driven by his views on fairness. "I’m not Mary Poppins – when you get in a fight with me, I’ll come back at you. But I’m not devil incarnate," he said.
After the footage became public, Cowgill told the Sunday Times it appeared to have been recorded on behalf of a key competitor. JD Sports and Footasylum both declined to comment.
