Mike Ashley wins court case over £15m ‘pub banter’

Sports Direct (LON:SPD) boss Mike Ashley won a High Court case over an alleged £15 million deal he made with Jeff Blue in a London pub.

According to the judge, the deal Ashley made with Blue was simply a “jocular” remark and there was nobody else “present in the Horse & Groom pub who thought that it was genuine.”

“The fact that Jeffery Blue deemed that it was genuine only proves the human capacity for wishful thinking has few boundaries” the judge added this morning.

Throughout the court case, the judge heard of Ashley’s many “drink-fuelled” meetings taking place in pubs, one of which Ashley “vomited into a fireplace”.

Blue argued that Ashley had promised him £15 million if Blue doubled Sports Direct’s share price to £8 a share. The Sports Direct owner had only paid £1 million to Blue, who wanted the rest in damages.

“The only reason the Sports Direct share price exceeded £8 and will hopefully do so again, is because of the sterling efforts of all the people who work at Sports Direct.” said Ashley in a statement.

“I can’t remember the details of the conversations that we had in the pub as it was a heavy night of drinking.” the Sports Direct boss said.

“If I did say to Mr Blue that I would pay him £15m if he could increase [Sports Direct’s] share price to £8, it would be obvious to everyone, including Mr Blue, that I wasn’t being serious.”

Ashley has faced a controversial few years with Sports Direct. A Guardian investigation found a company warehouse was running like a “Victorian workhouse” and staff were paid below the minimum wage.

When he gave the media a tour of the warehouse to showcase the better working conditions, it backfired after he pulled a thick wad of £50 notes from his pocket during a security check.