£70m bonus retreat on Sports Direct boss

Adrian Holliday
Mike Ashley to meet with shareholders
Mike Ashley to meet with shareholders

A shareholder rebellion has sunk the £70m bonus hopes of Sports Direct boss Mike Ashley. An investor meeting scheduled for tomorrow has been cancelled after several backers including Schroders rejected the plan.

Though Ashley owns 60% of the company - the value of its shares soared almost 90% last year - the FTSE 100 company has had to beat a retreat: for the moment. %VIRTUAL-SkimlinksPromo%