Mike Ashley, the founder and majority shareholder of sportswear and fashion group Frasers, has entered into a consultancy agreement with Hornby, the models and collectibles group said today.
Last month, Frasers, formerly called Sports Direct, disclosed an 8.9% stake in Hornby. Frasers sells Hornby's brands through its GAME business.
Hornby said Ashley would support chief executive Olly Raeburn and the wider business, particularly in relation to systems, operations, logistics and broader strategy.
The agreement, which does not include remuneration, was struck by Ashley's company Mash Holdings, rather than Frasers.
Frasers has a strategy of partnering with strategic investments.
It holds strategic equity stakes in a raft of other retailers including Hugo Boss, ASOS, Boohoo, Currys and AO World.
