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Whelan confirms JJB Sports fitness club deal

Dave Whelan has confirmed the acquisition of JJB Sports’ fitness club operation today.

According to reports Whelan, JJB Sports founder, confirmed that he has bought the fitness clubs at a press conference today at JJB Stadium in Wigan, which is being renamed DW Stadium. He is reported to have paid around £70 million.

Whelan wants to call the newly acquired fitness clubs DW Fitness, according to reports.

JJB Sports needs to sell its fitness club division to raise cash to pay its lenders. A standstill agreement between JJB Sports and banks, which postponed debt payment, expired yesterday.

However, a JJB Sports spokesman said that as far as the company was concerned the deal was not confirmed until an announcement had been made by the group.

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