Michael Murray, the young future son-in-law of Mike Ashley, will, in all likelihood, be paid more than £20 million in consultancy fees, as he gets ready to become the CEO of Frasers Group few days from now.
Come 1 May 2022, Michael Murray will also hold the distinction of becoming one of the youngest bosses, at 32, in the FTSE250.
Michael’s company MM Prop Consultancy, as a part of transition, will receive £20.9 million to end any agreement between Frasers Group and MM Prop Consultancy.
Notably, Michael’s company has been providing services to Frasers Group.
Michael, who is engaged to Mike Ashley’s daughter Anna, will be responsible for driving a strategy to win over younger shoppers, besides modernising Sports Direct stores.
Additionally, he will expand Frasers’ luxury offerings while re-building relationships with retail bigwigs like adidas and Nike.
The Mike Ashley-owned Frasers Group, earlier known as Sports Direct International, generated £3,957.4 million in 2020.
