Mike Ashley Wins Court Battle Over Pub Deal
26 July 2017, 10:36
Newcastle United owner and Sports Direct boss Mike Ashley has won a High Court battle with an investment banker over a £15 million deal allegedly made in a London pub.
Investment banker Jeffrey Blue told a judge that Mr Ashley promised to pay him £15 million if he used his expertise to double Sports Direct's share price to £8 a share.
He said Mr Ashley paid only £1 million and he wanted £14 million damages.
Mr Ashley denied the claim and said Mr Blue was talking ''nonsense''.
Mr Justice Leggatt analysed evidence at a High Court trial in London earlier this month.
The judge heard that the dispute centred on a conversation in the Horse and Groom pub four years ago.
Ruling in Mr Ashley's favour on Wednesday, the judge said no-one would have thought what was said in the pub was ``serious''.
Mr Ashley was not in court to hear the judge deliver his ruling, but his lawyers said he had won a ``comprehensive'' victory.