Sports Direct and JJB Sports fraud probe is dropped

Sports Direct owns Dunlop, Slazenger and Lonsdale

The Serious Fraud Office's (SFO) investigation into Sport Direct and JJB Sport over an alleged cartel has been dropped with no charges brought.

The SFO had been investigating the two companies following a referral from the Office of Fair Trading (OFT).

However, the SFO will continue looking in to individuals' activities.

The OFT has been carrying out an investigation into this area, which was in parallel to the SFO, and that probe will continue.

It is being carried out under the Competition Act, which covers cartel offences against companies.

The initial move by the SFO came after JJB said it had blown the whistle on a suspected cartel in the sports retail market.

The case involves "suspected agreement or concerted practice to dampen competition in the sports retail market" during June 2007 to March 2009.

Sports Direct International's brands include Dunlop, Slazenger and Lonsdale.

It is controlled by Newcastle United owner Mike Ashley.