This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/2017/jul/12/judge-mike-ashley-case-interesting-sports-direct-billionaire
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Judge says Mike Ashley case is 'a lot more interesting' than others | Judge says Mike Ashley case is 'a lot more interesting' than others |
| (7 months later) | |
| Mr Justice Leggatt, who will give his verdict next week, has listened to hours of evidence about Sports Direct billionaire’s unorthodox business practices | |
| Rupert Neate | |
| Wed 12 Jul 2017 19.07 BST | |
| Last modified on Sat 2 Dec 2017 17.51 GMT | |
| Share on Facebook | |
| Share on Twitter | |
| Share via Email | |
| View more sharing options | |
| Share on LinkedIn | |
| Share on Pinterest | |
| Share on Google+ | |
| Share on WhatsApp | |
| Share on Messenger | |
| Close | |
| A high court judge has joked that the legal dispute over what Sports Direct billionaire Mike Ashley allegedly said during a drunken night out to a London pub is “a lot more interesting” than most dry business disputes that reach the courts. | A high court judge has joked that the legal dispute over what Sports Direct billionaire Mike Ashley allegedly said during a drunken night out to a London pub is “a lot more interesting” than most dry business disputes that reach the courts. |
| Mr Justice Leggatt was on Wednesday hearing closing arguments in a dispute between Ashley and his former colleague Jeff Blue, who claims that the tracksuits and trainers tycoon promised him a £15m pay deal during “a big night out with the lads”. | Mr Justice Leggatt was on Wednesday hearing closing arguments in a dispute between Ashley and his former colleague Jeff Blue, who claims that the tracksuits and trainers tycoon promised him a £15m pay deal during “a big night out with the lads”. |
| Leggatt has listened to hours of extraordinary evidence delving into Ashley’s “unorthodox” business practices, including taking naps under the table during “boring” meetings and proudly being such a “power drinker” that he once allegedly vomited into a fireplace to the applause of colleagues. | Leggatt has listened to hours of extraordinary evidence delving into Ashley’s “unorthodox” business practices, including taking naps under the table during “boring” meetings and proudly being such a “power drinker” that he once allegedly vomited into a fireplace to the applause of colleagues. |
| David Cavender QC, who is representing Ashley, told the court that there was “a degree of surrealism that this really is a case in the commercial courts about an agreement in a pub. We have all enjoyed it enormously.” Leggatt replied: “It’s a lot more interesting than some other cases.” | David Cavender QC, who is representing Ashley, told the court that there was “a degree of surrealism that this really is a case in the commercial courts about an agreement in a pub. We have all enjoyed it enormously.” Leggatt replied: “It’s a lot more interesting than some other cases.” |
| Blue’s lawyer, Jeffrey Chapman QC, told the judge that Ashley often conducted business in pubs, casinos and various other “unusual venues” while under the influence of alcohol and the meeting’s venue should not invalidate the alleged deal. | Blue’s lawyer, Jeffrey Chapman QC, told the judge that Ashley often conducted business in pubs, casinos and various other “unusual venues” while under the influence of alcohol and the meeting’s venue should not invalidate the alleged deal. |
| Chapman described Ashley, the 54th wealthiest person in the UK according to the Sunday Times rich list, as an “extraordinary, larger-than-life, self-made billionaire. He is a power-drinking money-making machine.” | Chapman described Ashley, the 54th wealthiest person in the UK according to the Sunday Times rich list, as an “extraordinary, larger-than-life, self-made billionaire. He is a power-drinking money-making machine.” |
| He said Ashley would frequently make business deals while under the influence of alcohol and agreements would often be only verbal, with no written record. “Mr Blue has seen Mr Ashley in action over the years, doing business in pubs, hotel bars and casinos,” he said. “He’s rich and Sports Direct was, and is, his company to do with pretty much what he likes. | He said Ashley would frequently make business deals while under the influence of alcohol and agreements would often be only verbal, with no written record. “Mr Blue has seen Mr Ashley in action over the years, doing business in pubs, hotel bars and casinos,” he said. “He’s rich and Sports Direct was, and is, his company to do with pretty much what he likes. |
| “The deal he entered into with Mr Blue was, like so many of his deals, a brilliant one for Mike Ashley.” | “The deal he entered into with Mr Blue was, like so many of his deals, a brilliant one for Mike Ashley.” |
| Blue claims that during a night of heavy drinking in the Horse and Groom in Fitzrovia, central London, in January 2013 Ashley agreed to pay him £15m if Sports Direct’s shares doubled to £8. The shares did hit £8 but have since collapsed, in part because of reputational damage caused by a Guardian investigation that revealed the retailer was in effect paying staff in its warehouse less than the minimum wage. A report by MPs later accused Ashley of running Sports Direct like a Victorian workhouse. | Blue claims that during a night of heavy drinking in the Horse and Groom in Fitzrovia, central London, in January 2013 Ashley agreed to pay him £15m if Sports Direct’s shares doubled to £8. The shares did hit £8 but have since collapsed, in part because of reputational damage caused by a Guardian investigation that revealed the retailer was in effect paying staff in its warehouse less than the minimum wage. A report by MPs later accused Ashley of running Sports Direct like a Victorian workhouse. |
| Blue was paid a £1m bonus, which Ashley claims was unrelated to the alleged pub deal. Blue claims the only explanation for the £1m bonus is that it was a downpayment on the alleged agreement and he is suing Ashley for the £14m balance. | Blue was paid a £1m bonus, which Ashley claims was unrelated to the alleged pub deal. Blue claims the only explanation for the £1m bonus is that it was a downpayment on the alleged agreement and he is suing Ashley for the £14m balance. |
| Ashley has said he does not recall the conversation because he had downed the first four pints of the session in about an hour, and that if he did make any such share price-based deal it would have been just “drunk banter”. | Ashley has said he does not recall the conversation because he had downed the first four pints of the session in about an hour, and that if he did make any such share price-based deal it would have been just “drunk banter”. |
| Leggatt said he would deliver a judgment on Monday or Tuesday. | Leggatt said he would deliver a judgment on Monday or Tuesday. |
| Sports Direct International | |
| Retail industry | |
| Mike Ashley | |
| Newcastle United | |
| news | |
| Share on Facebook | |
| Share on Twitter | |
| Share via Email | |
| Share on LinkedIn | |
| Share on Pinterest | |
| Share on Google+ | |
| Share on WhatsApp | |
| Share on Messenger | |
| Reuse this content |