Sports Direct staff to share £100m payout

Sports Direct employees are to receive a payout worth 75% of their base salary in shares in August 2013 when the retailer’s 2009 bonus share scheme matures.

More than 2,000 employees participated in the three-year scheme, which awards shares based on specified profit targets being met in 2009-10, 2010-11 and 2011-12.

The eligible employees received 25% of their base salary in shares at £1 per share in August 2012. Based on the average employee wage (£20,000 per annum) at Sports Direct, it was estimated that employees would have 5,000 shares, which would be worth up to £15,000 per employee.

Eligible employees are to receive 75% of their base salary in shares worth £1.25 per share in August 2013. Again, based on the average wage of £20,000 per year, it is estimated that employees will receive 15,000 shares, which would be worth around £54,000 each at Sports Direct’s closing share price of 454.50p on 24 April.

The company will announce its preliminary results for the year ending 28 April 2013 on 18 July 2013.