MIKE Ashley is heading over the Irish Sea in a £35m venture to expand his business empire.

Mr Ashley’s Sports Direct business has agreed a deal with a minority shareholder in Warrnambool, which is the parent firm of Irish clothing retailer Heatons.

The firm says the tie-up will see Sports Direct own more than 50 per cent of Warrnambool.

It has also entered a separate conditional option agreement with Heatons officials Mark Heaton, Hugh Heaton and John O'Neill to take on the remaining shares in the company.

The deal represents further growth for Sports Direct, which wants to swell its presence outside of UK mainland.

Heatons runs 44 stores in the Republic of Ireland and another ten in Northern Ireland.

Bosses say the Northern Ireland bases already incorporate Sports Direct branded sections or are close to outlets, with Warrnambool owning and running a further five standalone Sports Direct stores in the country.

Dave Forsey, Sports Direct chief executive, said: “We look forward to accelerating investment into the existing store portfolio and strengthening the Heatons and Sports Direct brands across Ireland.”

According to its latest accounts, Warrnambool had consolidated revenues of about £160m for the year to April 30, with gross assets worth £116m and pre-tax profits of £7.3m.

The deal is subject to approval from the Irish Competition and Consumer Protection Commission.

Mr Ashley’s approach marks another chapter in his bid to expand the company he founded in 1982.

The firm now has an 18.9 per cent holding in home shopping business Findel, which owns replica football strip retailer Kitbag, and previously agreed a deal to buy 116 stores and sub-brands from collapsed fashion chain Republic.

It has also muscled in on the lucrative fitness sector, opening cut-price gyms across the UK under the Sports Direct Fitness banner.

Last month, Mr Ashley survived calls to be ousted from the board after shareholders backed him at the group’s annual meeting.

The Newcastle United owner, who has a 55 per cent stake in Sports Direct, and company chairman Keith Hellawell faced trade-union protests and calls against their re-election after being criticised over the firm’s treatment of workers and corporate governance.

However, both comfortably retained their roles.