Ashley court victory over £15m ‘deal’ struck in a pub

Mike Ashley today won his High Court battle with an investment banker over a £15 million deal made in a pub.

Former Merrill Lynch banker Jeff Blue told a judge that the Sports Direct founder and chief executive had promised him that payout if he doubled the company share price.

That deal was made on a night of heavy drinking, the court heard, at the Horse & Groom pub off Oxford Street four years ago. Blue said that was often how Ashley did business.

The leisurewear tycoon once won a drinking contest by downing 15 pints of beer and 15 vodka chasers, the court heard. He then vomited into a fireplace.

Today the judge said Blue’s claim that he was owned £15 million shows only “the human capacity for wishful thinking”.

Mr Justice Leggatt said that the case had been “a lot more interesting than some”.

Ashley had said that Blue was talking “nonsense”.

Justice Leggatt analysed evidence at a High Court trial in London earlier this month.

Ruling in Ashley’s favour on Wednesday, the judge said no one would have thought what was said in the pub was “serious”.

Ashley, who also owns Newcastle United, was not in court to hear the judge deliver his ruling, but his lawyers said he had won a “comprehensive” victory.

Sports Direct shares moved up 5p to 365p.