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Sports Wear Retailer Sports Direct Sets Out $336 Million Bonus Plan For Staff

Sportswear retailer Sports Direct "asked its shareholders to approve a new bonus scheme" that will allow its Founder & Deputy Exec Chair Mike Ashley to receive a payout, according to the BBC. The plan will grant as many as 25 million shares, worth about £200M ($336M), to 3,000 employees, "and will be the firm's third attempt to pay" Ashley. Ashley "has not received a salary or bonus since the retailer floated" in '07. Part of the plan is to "reflect" Ashley's contribution to the company since then. The company "has grown in worth" to almost £5B from about £2B since its float. The company "did not disclose how much of the bonus package" Ashley could take (BBC, 6/9).

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