JJB issued a profits warning earlier this summer which sent its share price into freefall. This has led to press speculation that the chain - which sells bicycles as well as other sports equipment - could be looking to go private.
34 percent of JJB Sports is owned by founder and chairman David Whelan, and son-in-law and chief executive Duncan Sharpe.
The Financial Times reports that JJB execs are mulling several options that also include sale to a trade or financial buyer.
However, JJB is likely to wait until next year, after this autumn's football, back-to-school and Christmas sales seasons, said the FT.