In 2018, Mr Ashley bought department store House of Fraser for £90m after the brand was put into administration. The following year, his company’s name changed from Sports Direct International to Frasers Group.
Frasers Group is also the owner of Evans Cycles, Game, and Sofa.com.
As his retail empire grew, so too did the controversy around Mr Ashley.
When the value of shares in Sports Direct dropped massively after the company’s flotation, Mr Ashley said investors were unhappy with the running of the firm, describing them as “cry babies”.