JD Sports agrees £38m sale of Footasylum after UK watchdog ruling

Deal with German asset management firm Aurelius Group follows CMA concerns

JD Sports has agreed a deal to sell Footasylum to the German asset management firm Aurelius Group for less than half the price it originally paid, after it was finally forced to offload the trainer chain by the UK's competition watchdog.

The 38m deal will be completed in the coming weeks, putting an end to a saga that started with JD Sports' 90m purchase of its rival in 2019 as the FTSE 100 group sought to strengthen its position on the UK high street.