Odey backs Sports Direct's £39m bonus for founder

Natalie Kenway

Sports Direct investor Crispin Odey has labelled its founder Mike Ashley "a genius" and said he is fully behind a bonus scheme, which would see Ashley scoop a £39m payout.

Back in September, investors revolted against a bonus scheme offering similar terms to Ashley, as it was deemed to be out of proportion with performance and not spread broadly across the management team. Odey Asset Management is the second largest shareholder after Ashley, with a 6.58% in the firm. Odey (pictured) told City AM: "Ashley is a genius. If only there were more entrepreneurs in the country then it would be a better game." He added: "Ashley is playful and that annoys the City." Ashley, who as deputy chairman takes no salary, was initially offered an extra 10 million share...

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