JJB Sports founder David Whelan was yesterday being linked to a £100 million bid for the ailing sportswear firm’s health club chain.
Mr Whelan, owner of Premiership football club Wigan Athletic, sold his stake in JJB last year but is in talks with the club over buying the 54-strong chain, the Financial Times said.
JJB is looking to generate cash to pay off a £20 million loan from failed Icelandic bank Kaupthing.
News of the talks emerged as rival JD Sports Fashion said it had spent £8.1 million on a 10 per cent stake in JJB as a “strategic investment”.
Wigan-based JJB said it had received an approach from a potential suitor yesterday.
Mr Whelan was unavailable for comment.
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