The director and founder of Sports Products Company Mike Ashley have to retire to run his other business and hand over the reins to his future son-in-law.
The board of the company Frasers Group, which also owns the Fraser House, said talks were underway for Michael Murray, 31, to succeed the billionaire from May 1, 2022.
The move means Mr. Ashley will step down as chief executive but will remain on the board as executive director.
Mr. Ashley founded Sports Direct in 1982 and owns 64% of the shares.
Mr. Murray, who married Mr.'s daughter. Ashley Anna, and is currently the chief who manages the company's state-of-the-art stores and transforms the business.
Chris Wootton, head of the finance unit said the trip to give to Mr. The most powerful Murray has existed for some time.
"Michael is a young man, he understands his job and knows what the client wants. Mike is very good at selling socks," he said. Wootton told The Times.
In a statement on the stock market, a group of Fraser's company "has suggested that Mr. Murray will take over the role of chief executive, and now positive rewards are being considered".
"The board sees fit for Michael to lead us on this successful journey," Fraser said.
Mr. Murray has been working for the company for several years, but his role has raised questions after reports surfaced that he was paid millions of pounds because of his advisory role.
Mr. Ashley was previously the deputy executive director of the retail unit - which changed its name from Sports Direct International to the Frasers group two years ago - until 2016, when long-time chief executive Dave Forsey resigned.
Mr. Ashley, 56, has been one of the most influential people since he started his business.
He first entered the gymnasium as a trainer before opening his first street sports retail store in Maidenhead, Berkshire, in 1982.
In the early 1990s, he expanded his business and opened other stores he named Sports Soccer, and by the millennium he had nearly 100 stores.
Later that year, Mr. Ashley became a well-known figure when he bought a majority stake in Newcastle United.
However, his rule has been criticized by fans over his style of ownership and he is said to be facing a lack of investment.
He is currently seeking to sell it after the breach of a £ 300 million contract with the Saudi Public Investment Fund.
In addition to football, he has quickly expanded his retail business in recent years, coaching several UK companies including House of Fraser, Evans Cycles, Jack Wills, and Game.
The company is now valued at £ 3 billion and operates in nearly 1,000 stores.
However, there has been a time of controversy.
In 2016, a parliamentary inquiry accused Ashley of mismanaging Sports Direct following an investigation report by the Commerce, Innovation and Skills Committee which found the company "had a bad working ethic" and treated "employees as a commodity instead." of as human beings ".
The company has also been widely criticized for its use of temporary employment contracts for employees only when needed.
The London High Court heard that the businessman had organized a management meeting at a bar where he drank 12 beers and vomited in the fireplace.
Mr. Ashley apologized in March 2020 after a series of misdemeanors emerged in a way that a group of his companies had faced a stalemate due to coronary heart disease.
The businessman persuaded the government to allow his stores to be open, claiming they were "providing essential services" but reversed his decision after criticism from staff and the media.
The businessman's decision to resign as chief executive seemed daunting but retail business analysts have said they think it could still be "as usual".
Business analyst Richard Hyman said: "Perhaps there is a step here to make Michael Murray better known and attract people to his strategy that he has been using to lead". I think we need to be more careful not to look at this company from a corporate point of view because it doesn't matter what position they hold, this is Mike Ashley's business and he is the only one who will have the final say. "
Who is Michael Murray?
Graduating from the University of Reading, Mr. Murray founded his own property and real estate consulting firm in 2015.
One of its clients is Mike Ashley's Fraser's company.
Its consulting company is responsible for finding and negotiating deals for the new Sports Direct store and other retail stores around the world, as well as providing advice on the company's existing websites.
He was appointed "chief executive officer of Frasers in January 2019, his job being to modernize the business.
One of his main projects was to make a T-shirt, which is one of Mr. Ashley's businesses.
In an interview with the Guardian following the opening of a T-shirt store in Leicester, Mr. Murray said he and Ashley were "working as partners".
