Notts County goalkeeper Kasper Schmeichel is on a massive bonus if they win promotion from League Two this season.

The Mail on Sunday says Schmeichel will be entitled to a staggering £200,000 bonus if he helps the stricken League Two club win promotion this season.

That was part of the five-year contract offered to Schmeichel when he joined the club from Manchester City and highlights the reckless spending that has brought the club to its knees.

The clearout has begun under new owner Ray Trew - who bought the cash-strapped club for £1 from Peter Trembling last week - with director of football Sven Goran Eriksson the first big-name casualty.

Trew plans to waste no time jettisoning Schmeichel and some of his highly-paid team-mates who were lured to Meadow Lane last summer on vast wages with the promise of a Premier League dream within five years.