Sports Direct founder Mike Ashley has lost the latest round in a legal fight with a former adviser who claims to be owed £14m for a deal made in a London pub, it has been reported.
The Sunday Times said yesterday that Ashley had failed in an attempt to submit new expert evidence in court on Friday.
Jeff Blue, a former investment banker, alleged that Ashley offered him £15m if he could get Sports Direct off the City’s “blacklist” and double its share price within three years.
Blue used his contacts to boost analysts’ research coverage of Sports Direct and improve liquidity in its shares, it was reported.
Blue said Ashley had paid him £1m but not paid the rest, despite a rise in the share price.
Drapers has contacted Sports Direct for comment.