Mike Ashley’s Sports Direct International PLC (LON:SPD) has launched another blast against its media coverage, labelling a report about the company's chief executive-to-average employee pay as 'fake news'.
In a statement, a spokesman for the sporting goods retailer said that the Sports Direct figure in the table of data published by newspaper City AM, and attributed to Pensions & Investment Research Consultants (PIRC), was “incorrect”.
The spokesman said: “The table incorrectly claims that Sports Direct had a chief executive-to-average employee pay ratio of 400:1, the second highest in the FTSE 350.”
He added: "This is fake news that appears to have been either deliberately or recklessly circulated by an irresponsible organisation that is making headlines at the expense of Sports Direct.
“We have contacted PIRC to request a copy of the report and we will be writing to them to express our disappointment. It is incorrect to state that Sports Direct has the second-highest ratio of chief executive-to-average employee pay."
The retailer said the incorrect data table was presumably based on an unvested bonus entitlement that was previously accrued by Dave Forsey, the former chief executive of Sports Direct.
It added: “This entitlement was accrued over several years (which was not immediately apparent from the published PIRC list, neither would it have amounted to the sum in question), but in any event, Mr Forsey chose to forego the bonus, which was never paid.”
Sports Direct pointed out Ashley, its current chief executive, founder, and major shareholder does not draw a salary from the company, and never has.