JJB bosses offered huge bonuses to save company

JJB Sports, the troubled sportswear chain, has unveiled a lucrative share bonus scheme that could net its chief executive and chairman more than £18m each over the next five years.

Under its new, five-year plan, four executives and some senior managers at JJB will get shares equal to 20 per cent of any rise in the company's market value beyond a set level.

The scheme is an attempt by JJB – which narrowly avoided administration in March 2011 – to incentivise management. The chief executive of JJB, Keith Jones, and its chairman, Mike McTighe, stand to gain the most and will receive 25 per cent each of the allocated shares, worth a maximum of £18.4m each.