Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Ukrainian UK

Mike Ashley dismisses claim he offered expert £15m as nonsense

Latest news

    Mike Ashley (left)Image copyright PA
    Image caption Newcastle United owner Mike Ashley (left) arrives at the High Court to give evidence

    Billionaire Mike Ashley said a claim that he agreed to pay a finance expert £15m during a drinking session in a pub is “nonsense”.

    Investment banker Jeffrey Blue said the Newcastle United owner promised to pay him £15m if he increased Sports Direct’s share price to £8 each.

    He was paid £1m but is suing Mr Ashley for the rest at London’s High Court.

    Mr Ashley said it “would be obvious” to anyone at the pub where they were drinking that he “was not serious”.

    Mr Ashley told Mr Justice Leggatt, in a witness statement, he met Mr Blue and three other finance specialists at the Horse And Groom pub in central London in January 2013.

    ‘A lot of banter’

    “When we got to the pub we started drinking heavily at the bar and consumed a lot of alcohol during the evening,” Mr Ashley told the judge.

    “We must have had four or five rounds of drinks in the first hour.

    “I can’t remember the detail of conversations but I do remember that we had a lot of drinks and a lot of banter.

    Image copyright PA
    Image caption Finance expert Jeffrey Blue claims he was promised £15m for pushing up the price of shares

    “We were pulling each other’s legs about what hypothetical value my shares would be worth ‘on paper’ at different share prices.

    “It was a fun night, as it was intended to be, and everyone was on good form.”

    Mr Ashley said the group went to another bar afterwards but could not remember which one.

    He said: “I find it incredible that Mr Blue is actually suggesting that I made a binding agreement for £15m.

    “It’s nonsense.

    “If I did say to Mr Blue that I would pay him £15m, it would be obvious to everyone, including Mr Blue, that I wasn’t being serious.”

    ‘Decisions in bath’

    Mr Ashley said the inference that Sports Direct had senior management meetings in a pub was “100% incorrect”.

    He said he occasionally made decisions in a pub.

    “Definitely not as a norm,” he said. “Otherwise I would have to live in a pub.”

    He added: “I take business decisions all day every day, from home, from the bath.”

    View the original article:

    Mr Ashley told the judge: “Serious, serious decisions are not done on drunken nights out.”

    In the same category are

    Samsung’s new phone focuses on camera tricks Media playback is unsupported on your device Media captionWATCH: Spencer Kelly gets hands on with the Galaxy S9New and improved camera capabilities ...
    British skier killed in French Alps cliff fall Image copyright Getty Images A British skier has fallen to his death in the French Alps, authorities have confirmed.The man - part of a trio who wen...
    Manchester United 2-1 Chelsea Jesse Lingard scored his 13th goal of the season, after coming on as a substituteManchester United moved back into second place in the Premier League...
    Freezing temperatures to hit UK amid weather warnings Media playback is unsupported on your device Media captionBBC Weather forecastBitterly cold temperatures and deep snow are forecast across the UK th...
    Florida shooting: school threats spike ‘significantly’ Image copyright Faster Image caption A US not-for-profit organisation has reported an increase in the number of firearms threats in US schools For...
    Nokia reveals ‘unbendable’ 8 Sirocco and Matrix 8110 Media playback is unsupported on your device Media captionWATCH: New Nokia's include an 'unbendable' flagship and a retro sliderAn Android smartphon...

    Leave a comment

    Your email address will not be published. Required fields are marked *