Sports Direct staff to receive bonuses worth 25% of their salary

Thousands of Sports Direct staff are in line to receive bonuses worth 25% of their salaries.

The news of the bonuses comes after the sports company said it was set to exceed its profit forecast – with profits expected to reach at least £155m – and predicted bumper sales next year due to the football World Cup.

Sports Direct set up the bonus scheme in the summer, which is open to all UK employees with at least one year’s service and offers 25% of base pay, in shares, if underlying profits reach £155m in this financial year.

Should the sports retailer succeed in reaching profits of £155m, the shares would be released after two years for any staff who remain with the company.

The company has set aside nearly £5m towards the cost of the bonus. A second bonus, dependent on profits and debt levels, offers even bigger rewards in the 2010-11 financial year, the Guardian reported.

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