Sports World director in flotation debate

Sports World billionaire owned Mike Ashley is expected to not take up the position of CEO if the company goes ahead with a stock market listing. Instead, Mr Ashley will remain director, possibly being appointed deputy executive chairman of the retail chain. It is understood that Mr Ashley may sell a substantial number of shares if he decides to push ahead with a flotation, according to The Daily Telegraph.

The latest accounts filed at Companies House by Sports World - which also owns Lilywhites show that sales rose 45 per cent to £905m last year in the 12 months to April 2005. Mr Ashley has built a billion-pound fortune from the Sports World retail chain. But his investments in rival retailers have been less profitable.