Frasers Group owner CEO Mike Ashley has offered over £30m to DW Sports founder Dave Whelan to acquire the sports retailer.

This follows DW Sports entering administration earlier this month, leaving more than 1000 employees at risk of losing jobs.

DW Sports administrators, BDO’s Graham Newton and Ryan Grant, are said to be asking for roughly £20m for the business. Rumours indicated that Whelan’s family were looking to buy back DW Sports.

The £30m offer, which was initially reported by The Sunday Times, would comprise the acquisition of all 73 gyms and 75 stores belonging to DW Sports.

Should the offer be accepted, DW Sports would join 880 other stores that are part of the Frasers Group, including SportsDirect.com, Lonsdale, and Sweatshop.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It was reported last week that Ashley is also rumoured to be looking into obtaining 30 Debenhams stores.

Frasers Group value wavers after annual results presentation delayed

Last week, Frasers Group share price dipped after the company delayed its annual results presentation for the second consecutive year.

The presentation was supposed to be held on Thursday 13 August, but the retailer requested an extra week to complete accounts.

In a statement, the company said: “Due to the undoubted scrutiny of our accounts, management and our auditors RSM will take this extra week to robustly review the final accounts and ensure that all necessary disclosures have been completed.”

Experts are wary of what this year’s results could hold for the company. Professor of accounting Prem Sikka, @Premnsikka on Twitter, said: “The release of annual results at Mike Ashley’s Frasers Group – formerly Sports Direct – delayed again. Last year’s delayed results reported a €674m (£605m) tax bill from Belgium and auditors also resigned. What bombshell awaits this year’s delay?”

Following the news of Ashley’s £30m bid, share price for Frasers Group has gained over 2%. It is trading at approximately 290p. This is down by 38% since the beginning of the year, leaving the company currently valued at £1.5bn.