The loan row between Sports Direct’s Mike Ashley and JJB Sports chairman Sir David Jones intensified at the weekend with the disclosure of a letter that supports Ashley’s version of events.
A letter outlining details of the £1.5m loan to Jones shows that the money was lent in October 2007, after Jones joined the board of JJB.
JJB is still continuing to stand by its chairman, saying it is happy with the evidence that the loan was initiated before he joined the board of JJB.
Jones is to face JJB’s shareholders on Friday for the sports retailer’s annual general meeting.
Jones may also face questions over the news that he is still using JJB founder Dave Whelan’s helicopter for business trips.
The new management at JJB had sold the helicopter to Whelan as a way of trying to ease the company’s financial woes. JJB said it had an agreement with Whelan for the use of his helicoptor for 10 hours a month in return for Whelan using JJB’s helipad.
2 Readers' comments