The audit watchdog is close to finalising a £2m penalty for Grant Thornton over the non-disclosure of ties to a company owned by Mike Ashley's brother, Sky News learns.
"These decisions [to launch an inquiry] follow reports of an arrangement between Sports Direct and Barlin Delivery Limited which was not disclosed as a related party in the company's financial statements."
"There has never been any suggestion of wrongdoing by Frasers Group during this investigation," the company said. The former Newcastle United FC owner has had a deeply uneasy relationship with the public markets since floating Sports Direct 15 years ago, although persistent rumours that he would seek to take it private have never materialised.
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