Sports Direct Employees to Get Payout Worth $71,000, Times Says

Sports Direct International Plc (SPD)’s full-time employees will receive a bonus share package valued at 44,370 pounds ($71,000) when the retailer discloses that it has met profit targets this week, the Sunday Times reported.

Eligible employees can redeem a quarter of the shares in July 2012 and the remainder in 2013, the Sunday Times reported, without saying where it got the information. The value of the shares was calculated based on the company’s closing share price of 261 pence on July 8, according to the report.

Sports Direct is expected to post a profit of 205 million million pounds for its fiscal year, the Sunday Times reported.

To contact the reporter on this story: Rachel Graham in London at rgraham13@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net