City profiles
Michael Murray The takeover of House of Fraser could mean “another step up” for Mike Ashley’s future son-in-law, who currently glories in the title “head of elevation” at Sports Direct, says Sarah Butler in The Observer. Michael Murray, 28, who has run the group’s property portfolio since 2015, is likely to be at the forefront of cutting deals with landlords – and in attracting luxury brands. His mission to make Sports Direct “the Selfridges of sport” fits nicely with Ashley’s dream of creating “the Harrods of the high street”. Originally from Doncaster, where his father has big property interests, Murray ran festivals and bought two bars while a student. But “arguably the biggest boost to his career” was meeting Ashley’s daughter Anna in 2011. Victory at last for Stan Kroenke, who has finally sealed a deal to take full control of Arsenal FC, following an 11-year battle with the Russian metals magnate Alisher Usmanov, says the FT. The US sports mogul will pay £550m for Usmanov’s 30% stake, and then intends to exercise a legal option to acquire all remaining shares, squeezing out small investors – many of them fans. Known as “Silent Stan” (he rarely gives interviews), Kroenke, 71, holds assets including the Los Angeles Rams American football team and the Denver Nuggets basketball team. At Arsenal, there are worries that the Missouri-born wheeler-dealer, who married a Walmart heiress before finding his métier in sport, now has a free hand to make sweeping changes. The Arsenal Supporters’ Trust called it “a dreadful day”.