Aug 26, 2021

Sports Direct owner's new boss offered potential £100m bonus

Mike Ashley's Frasers Group has offered the retail tycoon's future son-in-law a £100m bonus - but only if he can more than double the share price. The board of Frasers Group, which owns Sports Direct and House of Fraser, said it had also recommended £1m a year salary for Mr Murray. Mr Ashley founded Sports Direct in 1982 and retains 64% of the group. "The board believes that the significant increase in value of the shares to be achieved before Michael's share option award vests is suitably challenging but achievable and would be evidence of the success of the group's elevation strategy and Michael's leading role in this," the company said. Mr Murray has been working for the group for several years, but his role at the company raised eyebrows after reports about him being paid millions of pounds in consultancy fees.

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