Game’s management will sell their shares to Mike Ashley, having told shareholders to accept the offer of 30p per share made by the Sports Direct mogul.

The offer equates to a deal value of around £52m and may see Ashley place gaming arenas in House of Fraser, which he bought out of administration last August.

Ashley, who already owns nearly 40% of Game, originally made the offer last month. Game management termed the offer ‘fair’ and conceded that it was reliant on Ashley’s business to “support its future growth prospects”, especially with its collaborative rollout of gaming arenas.