Sports Direct defends property boss

Tempers were wearing thin at Sports Direct as the retailer took the unusual step of defending its image and controversial property boss Michael Murray.

The retailer moved to “correct” reporting of a property deal by The Guardian which claimed that its purchase of a West End property was “on the tattier eastern side of Oxford Street”.

In response, Sports Direct told the stock market the building was a “perfect strategic fit”.

It added: “This is one of the hottest freehold sites in London... It is just a short walk from the forthcoming new Crossrail link at Tottenham Court Road, which will bring an estimated 50,000 extra people a day to the station in 2018.”

The retailer said the “deal vindicates the group’s faith in Michael Murray, who has successfully played a pivotal role in executing the property strategy”.

The appointment of Murray, the boyfriend of Sports Direct founder Mike Ashley’s daughter, Anna, was widely criticised last year because he had little commercial property experience and will receive big bonuses for securing new sites for the retailer.

Sports Direct shares climbed 3% to 399p, having halved since an 815p peak last August.