EditorSolicitors Journal

Ashley wins court case over £15m pub deal

Ashley wins court case over £15m pub deal

No evidence to suggest Sports Direct owner concludes deals outside of senior management meetings, says judge

Sports Direct boss and Newcastle United owner Mike Ashley will not have to pay out on a multi-million pound deal he allegedly made in a pub during a 'night of heavy drinking', the High Court has ruled.

Investment banker Jeffrey Blue claimed Ashley agreed during an booze-fuelled pub meeting in January 2013 that he'd pay him £15m if Sports Direct's company shares doubled to £8, which they did in February 2014.

Mr Justice Leggatt, who said during the trial that the case was 'a lot more interesting' than other business disputes, ruled in Ashley's favour.

'The Sports Direct senior management meetings certainly show that Mr Ashley is happy to combine discussion of business matters with the consumption of alcohol,' said Leggatt J. 'But there is no evidence to suggest that Mr Ashley has ever negotiated or concluded a contract at one of these meetings.

'The evening at the Horse and Groom was, in any event, a considerably less formal occasion than the senior management meetings, as there was no agenda or structure for the occasion and the conversation was largely social or general chat, rather than being specifically directed to any business subject.'

Giving evidence at trial, Ashley said he could not remember making the alleged deal, but if he had then it would have been 'obviously just banter'.

He claimed that if had offered £15m to the then adviser to Sports Direct, 'it would be obvious to everyone, including Mr Blue, that I wasn't being serious'.

The judge said Blue will now have to pay Ashley's legal costs of £1.5m on top of his own of around '£1m-odd'.

AdvertisementAdvertisementAdvertisementAdvertisementAdvertisementAdvertisement
Latest News

The Chancery Lane Project expands to the USA

Thu Sep 21 2023

Delay in Final Report of the Infected Blood Inquiry

Thu Sep 21 2023

Attorney General presents UK intervention in Ukraine case against Russia at International Court of Justice

Thu Sep 21 2023

Firms losing potential clients by failing to return their calls, research shows

Thu Sep 21 2023

Powers of attorney modernised as legislation allows CILEX Lawyers to certify LPA copies for the first time

Thu Sep 21 2023

Stark contrast between Government response to Post Office Horizon victims and Infected Blood

Wed Sep 20 2023

ACSO comments on the Justice select Committee report:

Wed Sep 20 2023

Campaigners win permission to appeal against Sizewell C Nuclear Power Station ruling

Tue Sep 19 2023

Pre-inquest review into the deaths of Reading murder victims, James Furlong, Dr David Wails and Joseph Ritchie-Bennett

Mon Sep 18 2023
FeaturedAudit reform: if not now, when?
Audit reform: if not now, when?
Browne Jacobson collaborates with LGiU on report highlighting “critical” role of local government to hit net zero
Browne Jacobson collaborates with LGiU on report highlighting “critical” role of local government to hit net zero
The battle for talent – promoting diversity
The battle for talent – promoting diversity
BSB publishes new guidance on barristers’ conduct in non-professional life and on social mediaSJ interview: Adrian Chopin
SJ interview: Adrian Chopin
Whose human rights are more important, yours or mine?
Whose human rights are more important, yours or mine?