Sports Direct rival Kitbag has been sold to US sports merchandise firm Fanatics, despite attempts by the Mike Ashley-owned firm to de-rail the deal.

Sports Direct has built a 18.9% stake in the company since 2014 and previously attempted to appoint its own agent, Ben Gardener to render “specialist assistance” to the board of Kitbag’s parent company, home shopping group Findel.

At the time, Sports Direct said: “All the Findel business segments could have been improved for the benefit of all of its shareholders with the retail expertise of Sports Direct. Mr Gardner could have helped in all these regards and would have been a positive addition of a board that Sports Direct believes has under-delivered for its shareholders.”