Sports Direct has released information about the role of its head of property, Michael Murray, who is also said to be the boyfriend of founder Mike Ashley’s daughter.
The sportswear retailer said Murray heads its UK and international property team whose main job is to find sites for large stores and a new format combining a shop and a gym.
In a statement to the stock exchange, the company said Murray is paid no salary and is not a director of any Sports Direct company. It said he would be paid based on “creating value” though it did not explain how the added value was calculated.
Sports Direct said: “His remuneration is based solely on creating value, with the company’s non-executive directors overseeing an independent review annually and deciding, in their absolute discretion, how much of any increased value (up to a maximum of 25%) shall be paid to Michael.”
Murray’s appointment was revealed in September when Sports Direct said it planned to spend £250m on acquiring sites for superstores including a gym. Murray was reported to have joined as property director after working at Central London Properties.
The Telegraph reported that Murray, 26, is the boyfriend of Ashley’s daughter Anna and lives in a £10.7m property in Belgravia, London. Ashley provided a loan for the property, which Murray owns, the Telegraph said.
Murray has no previous experience in commercial property development and until last summer was organising student events, the Telegraph said (£).
A spokeswoman for Sports Direct declined to comment on Murray’s experience or to say how the independent review of his performance would be carried out.
Nick Bubb, an independent retail analyst, said Sports Direct’s statement about Murray raised as many questions as it answered.
“There is no explanation of what ‘value creation’ is in the murky world of property site finding, nor anything about his qualifications, nor any mention of his relationship with Mike Ashley’s daughter.”
Sports Direct is under scrutiny over its treatment of employees and Ashley’s dominance of the company and its board. After the Guardian exposed working practices at its warehouse in Shirebrook, Derbyshire, shareholders want to bring in stronger directors to stand up to Ashley, who owns 55% of the company he founded in 1982.
The company is trying to salvage its reputation after weeks of pressure from politicians, unions and shareholders. Ashley said on New Year’s Eve that he would pay staff more than the minimum wage.
Bubb said: “If Sports Direct’s New Year resolution is to make an official announcement every day, as part of its new proactive PR policy, it is fervently to be hoped that the announcements will be more comprehensible than today’s.”
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