SPORTS DIRECT International has announced a proposal for a bonus scheme for 3,000 staff, including majority shareholder Mike Ashley, which could see more than £200 million of new shares issued.

The company has tried several times in recent years to reward Mr Ashley, who owns Newcastle United and is also a Rangers shareholder, as he takes no salary for his role as executive deputy chairman.

Up to 25 million new shares could be issued if the retailer hits earnings targets between 2016 and 2019.

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