Sports Direct owner Mike Ashley set to take over cycling retailer ProBikeKit

The sportswear tycoon, owner of Sports Direct, set to take stock and IP assets from THG

Mike Ashley
(Image credit: Getty Images)

Mike Ashley is set to take control of cycling retailer ProBikeKit, as his Frasers Group is in talks to acquire the brand from THG, according to reports.

The group, which also owns Sports Direct, is expected to takeover ProBikeKit through its Evans Cycles subsidiary, Sky News reported this week. The deal is expected to go through by the end of this week.

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Adam Becket
News editor

Adam is Cycling Weekly’s news editor – his greatest love is road racing but as long as he is cycling on tarmac, he's happy. Before joining Cycling Weekly he spent two years writing for Procycling, where he interviewed riders and wrote about racing. He's usually out and about on the roads of Bristol and its surrounds. Before cycling took over his professional life, he covered ecclesiastical matters at the world’s largest Anglican newspaper and politics at Business Insider. Don't ask how that is related to cycling.