Sports distributors punished for cartel on T-shirts

Sporting goods chain JD Sports Fashion and Elite Sports were ordered to pay fines of up to 2.24 million euros on Tuesday.

On Tuesday, the British Competition Authority (CMA) imposed fines totaling about 2 million pounds (2.24 million euros) on sporting goods chains that fixed the prices of some products of the football club Rangers FC. JD Sports Fashion and Elite Sports”Violated competition law by setting selling pricesSome Rangers jerseys and other apparel, between September 2018 and July 2019, according to a statement from the Capital Markets Authority.

Scottish football clubHe also participated in complicity“, but only on certain shirts and for a shorter period, from September to mid-November 2018, the gendarmerie of the competition determines. JD Sports has fined the heaviest nearly 1.5 million pounds, while the elite sports will pay 459,000 pounds and Rangers 225 thousand pounds. The three parties admitted that they acted and illegally cooperated in the investigation.

At a time when many people are concerned about the rising cost of living, it is important that football fans benefit from competitively priced products.“, as estimated by Michael Grenfell, an official with the Capital Markets Authority, citing the press release.”No senior director or executive of JD has been involved in the alleged businessSince then the company has done soIt has taken a number of steps to strengthen the competition compliance programmeJD Sports confirmed in a press release that the group, which stated that it does not intend to appeal, has spent 2 million pounds in its accounts in anticipation of this fine. Its headline lost 2.24% to 100.55 pence on Tuesday at around 09:15 GMT on the London Stock Exchange.

See also  Australia and New Zealand withdraw from the Rugby Union World Cup

see also Diego Maradona’s shirt sold in 1986 World Cup Final auction

Leave a Reply

Your email address will not be published.