Dave Forsey

Think Sports Direct and you inevitably think of its controversial founder Mike Ashley. Yet it is his trusted chief executive Dave Forsey who is in the background making sure the cogs of the sportswear retailer are well oiled.

Little is known about Forsey, who some see simply as a puppet for Ashley. But those who know him say he is not to be underestimated.

“If he was chief executive of any other business then his obvious abilities would be much more to the fore, but of course Sports Direct is the Mike Ashley show. Although Mike is a retail genius - and I don’t use that phrase lightly - he couldn’t have done it without his wingman,” says Oriel Securities analyst Jonathan Pritchard.

It is difficult to separate Forsey from billionaire Ashley after their 25-year partnership. Forsey has been at Sports Direct - which was due to reveal its interim results as Retail Week went to press - all his career and is part of the tight-knit group that surrounds the sportswear tycoon.

Forsey is known as the straight man in the Sports Direct stable. While Ashley is often the last man standing on a night out, famously winning and losing millions on roulette at casino Fifty London, Forsey rarely loses control. Those close to Forsey describe him as reliable, solid and hard working, not to mention fiercely loyal to his notorious leader.

Family man Forsey, who commutes from Manchester to the Sports Direct head office in Shirebrook, Nottinghamshire, is known as being conscientious and an operations man, according to one source close to the company.

One analyst says: “He’s a calming influence on a somewhat impetuous Ashley. He seems like a thoughtful guy, but I’d bet that hides the fact he rules with an iron fist.”

Forsey has managed to win over fans in the City, despite Sports Direct’s controversial debut as a public company in 2007. When Sports Direct floated, it opted for a somewhat uncommunicative stance, only revealing certain figures to brokers, arguing that it did not want to be judged on like-for-like sales.

However, the retailer, and Forsey in particular, have become more open and transparent, according to the City.

The analyst says: “They have cleaned up their act. I think they were ill-advised when they floated but they have learnt from the experience and Forsey is gaining respect from the City.”

Sports Direct has also been performing well lately, capitalising on rival JJB Sports’ problems. In the nine weeks to September 26, both sales and profits were up 5.4%.

But has a lifetime in the shadow of Ashley been to Forsey’s detriment? “If he were elsewhere his abilities would probably be more respected and he would be able to shine in his own right. He’s been in the sports industry for a long time. People think retail is just retail but the sports retail market is very specific,” says one analyst.

While the outside world may not see Forsey’s talent, he is clearly thriving in Sports Direct. And while Ashley takes time out from the retailer to get stuck into other projects such as Newcastle United, he can relax in the knowledge that Sports Direct is safe in Forsey’s hands.

➤ For Retail Week Knowledge Bank’s full analysis of Sports Direct - and how its business compares to its sportswear rivals - go to retail-week.com/sportsdirect