Ashley facing fresh investor rebellion

TRACKSUIT tycoon Mike Ashley is facing an investor revolt at Sports Direct next month with shareholders being urged to vote against his re-election.

Shareholder adviser Glass Lewis has blamed Ashley, 53, for damaging the brand following negative reports about the retail mogul.

Reports from a courtroom battle last year claimed the billionaire holds meetings with management in the pub, and even vomited into a fireplace at one business gathering.

Glass Lewis is also advising investors to oppose the re-election of chairman Keith Hellawell at the AGM on September 12.

He has been accused by Glass Lewis of responding poorly to past concerns of shareholders.

It also warned that shareholders should be concerned about any regulatory investigation into Sports Direct’s recent £90m purchase of House of Fraser.