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Sports Direct issues statement to clarify role of Michael Murray

Tuesday January 5th 2016

Sports Direct has issued a statement to clarify the role of Michael Murray after reports emerged that the 26 year-old is the boyfriend of founder Mike Ashley's daughter and has relatively little experience of commercial property development.

In a statement Sports Direct said Murray heads up its property team which looks for new sites for the larger format stores and combined retail and gym units.

It also said that Murray is not a director of any company within the Sports Direct group but works on a consultancy basis and therefore does not receive a salary.

It added: “His remuneration is based solely on creating value, with the company's non-executive directors overseeing an independent review annually and deciding, in their absolute discretion, how much of any increased value (up to a maximum of 25%) shall be paid to Michael.”

Tags: retail