Chris Ronnie likes a joke. Here’s one from the time he played squash with Mike Ashley: “We only played three points, we thought one of us was going to die.” And as for the similarities between the two: “You mean our waistlines and chins?”

However, the JJB Sports chief executive is finally being taken seriously in the City after more than six months in charge.

When he was appointed last summer the 45-year-old’s close friendship with Mr Ashley was viewed with suspicion. Some thought he was on little more than an undercover assignment for the Sports Direct founder, who had employed him for three years until 2006.

This sentiment heightened when both bought a stake in Umbro in the run-up to Christmas as Nike, the American sportswear giant, launched its transatlantic takeover raid.

The City is beginning to change its views to the point that even yesterday’s trading statement from JJB was seen as positive despite the profit warning it contained. While margins were hit by a huge New Year sale, analysts were impressed that Mr Ronnie had acted to clear outstanding stock so that JJB could start again in the coming financial year.

It came a week after JJB settled a class-action lawsuit over the price-fixing of replica shirts, removing another uncertainty.

Analysts also like what they see at JJB’s new store in the Trafford Centre, the first “new era” outlet. Insiders claim staff are more motivated after the introduction of a quarterly bonus scheme.

Mr Ronnie said: “I’m not trying to be another Mike Ashley, it’s not Stars in their Eyes. I’m just trying to be me.”

His elevation last year followed two decades in sports retailing. After leaving school with two A-levels and suffering an injury that curtailed a promising squash career, he began work in a sports shop in Bramall, Cheshire. From there he moved to Arrow Sports, then Mitre Sports as UK sales and marketing director, and on to Pentland Industries where he was managing director of Ellesse UK.

In 1995 he became the managing director of Diadora before moving to Sports Division two years later when he reported to Tom Hunter, the Scottish entrepreneur.

Before finishing his apprenticeship with Mr Ashley he spent four years at Umbro as chief operating officer, giving him an invaluable insight into the company’s problems in the past year as official kit supplier to the dismal England football team.

He believes it is too simplistic to blame the bad run of form under Steve McClaren, the former England manager and says Umbro had simply lost sight of what the fans wanted.

“They need to be more commercial with their designs, rather than go all technical and talk about the fabric,” he says. “They need to get the fans going again, get some excitement back. Let the fans pick the next shirt.”