Sports Direct ends BAML link

Marion Dakers
SPORTS Direct has parted ways with corporate broker Bank of America Merrill Lynch after six years.

Mike Ashley’s retailer and the bank are believed to have ended the relationship by mutual consent at the end of last year.

Ashley and BAML have worked together since Sports Direct floated in 2007, and are reported to have once settled a legal bill linked to the IPO by a game of spoof.

The departure leaves Oriel Securities as sole broker to FTSE 250-listed Sports Direct.

The retailer is expected to hire another bank to act as joint broker, though it has not begun a formal search.