Jeffery Blue who is a finance expert has taken Billionaire Mike Ashley to the High Court in London claiming that he owed £14m.
Blue is claiming that the meetings were regularly held in pubs and he was promised £15m should he increase the share price for Sports Direct to rise to £8, he was only paid £1m.
Ashley is claiming that the purported deal that was struck between them both was fuelled with drink and was “banter.”
Ashley said in a written statement: “I can’t believe that [Mr Blue] is now trying to take me for £14m off the back of some drink banter that he is seeking to engineer into something more.”
They both do agree that the conversation took place in the Horse & Groom, London in 2013.
Ashley’s QC, David Cavender accused Blue of “making up evidence” and made out his claim was a “opportunistic try-on.”
“He does recall ‘that there was a lot of banter and bravado’.
“He does not recall any discussion about whether Mr Blue would be paid a sum of money if the share price reached £8 a share.”
The hearing continues.