Sports Direct shareholders approve Mike Ashley bonus plan

LONDON, July 2 Wed Jul 2, 2014 6:25am EDT

LONDON, July 2 (Reuters) - Shareholders in Sport Direct approved on Wednesday a bonus plan that could pay out 200 million pounds ($340 million) to employees including the retailer's founder and major shareholder Mike Ashley.

The company said 60.4 percent of the votes cast were in favour of the scheme.

The proposal is Sports Direct's fourth attempt at rewarding Ashley, who receives no salary or other bonus from the retailer.

He founded Sports Direct in 1982 and also owns soccer club Newcastle United.

($1 = 0.5877 British Pounds) (Reporting by Paul Sandle; editing by Kate Holton)