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Ashley Misses Out On £63m

8 years ago
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Earlier today we brought you the news of Sports Direct’s record breaking financial figures, with profits up by 40% and sales by 30%.

We also reported how 2,000 of Ashley’s Sports Direct staff were going to share £126m after hitting bonus targets.

However, respected news agency Reuters have revealed that there had been plans to give Mike Ashley a bonus of £63m (shares valued at today’s prices) on the back of the latest figures but this has been scrapped in favour of them finding ‘other ways’ to reward Ashley for the growth of SD.

The Reuters report goes on to say that Ashley, who founded SD in 1982, has not taken a salary since the flotation in 2007.

Reuters also add that ‘He (Ashley) has also provided significant free advertising for it (SD) through his ownership of English Premier League football club Newcastle United’.

As the Chief Executive of Sports Direct, Dave Forsey,  eloquently puts it;

“We are obviously very keen to look at how we can reward Mike because he’s absolutely making a massive difference to our business.”

It would be interesting to be in the know as to exactly what value Sports Direct management put on the connection with Newcastle United, in terms of free advertising and other spin-offs.

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