Sports Direct staff to receive share scheme payout

Sports Direct employees are to receive a payout worth up to £15,000 each in August when the retailer’s 2009 bonus share scheme matures.

More than 2,000 employees participated in the three-year scheme, which will award employees shares this year and in 2013 after specified profit targets were met in 2009-10 and 2010-11.

Staff will receive 25% of base pay in shares at £1 per share next month.

Based on the average employee wage (£20,000 per annum) at Sports Direct, it is estimated that employees will have 5,000 shares, which could be worth up to £15,000 per employee.

In summer 2013, staff are to receive a second bonus of 75% of base pay in shares of £1.25 per share.