Mike Ashley takes consultancy role at Frasers

Mike Ashley

Mike Ashley has reportedly been appointed as a consultant by Frasers Group less than a year after stepping down from its board.

The billionaire entrepreneur left his role as a director of Frasers last October after handing over the mantle of CEO to his son-in-law Michael Murray earlier in the year.

At the time, Ashley said his commitment to the company he founded as Sports Direct in 1982 was “as strong as ever” and pledged to provide £100m of additional funding upon relinquishing the role.

The Sunday Times understands Ashley will now act as an unpaid consultant for the group, specifically advising on its supply chain and wider operations – a move it says could raise questions about his role in relation to the board.

Frasers is understood to have taken legal advice over the arrangement, the paper says.

Meanwhile, the Shirebrook-headquartered group’s bullish streak shows little sign of abating. Frasers snapped up an 8.9% stake in Currys last week, with the news coming a little over a week after it acquired a substantial portion of online electricals retailer, AO World.

Last year, the retail empire set about bolstering its already extensive portfolio of brands with swoops for a host of online fashion retailers including Missguided and I Saw it First.