Icelandic tycoon hits out at Ashley in Sports Direct store row

An Icelandic tycoon who once owned swathes of the UK High Street today hit out at sportswear boss Mike Ashley amid a row over a Sports Direct store.

The retailer has launched a legal claim against the wife and stepson of Jon Asgeir Johannesson.

The Icelandic family own 60% of Sports Direct’s store in their home nation, which is its most profitable overseas shop. The FTSE 250 firm owns the other 40%.

The court docket refers to an alleged breach of contract but Johannesson accused Ashley of trying to “steal” the business.

He was recently rebuffed in a bid to buy out the Johannesson family for €100,000 (£92,000). The store makes €2 million on annual sales of €10 million.

Johannesson told the Standard: “They are essentially trying to steal a very profitable business which has taken five years to build up without paying a fair price. This is not the way to treat a business partner in a joint venture.”

His family have links to Jeff Blue, Ashley’s former adviser who lost a High Court battle with Ashley over an alleged £15 million deal in a London pub.

Sports Direct declined to comment.