Sports Direct founder and CEO Mike Ashley has won a High Court lawsuit over an alleged deal made in a London pub in 2013.
The claim, which is from former investment banker Jeff Blue, relates to an alleged conversation in which Ashley is said to have promised a £15m payout if the Sports Direct share price hit £8 within three years.
Blue claimed Ashley made the pledge during a meeting at the Horse and Groom pub in Marylebone, London. Ashley denied any deal was made throughout the case.
Ashley was not in court to hear the ruling, but his lawyers said he had won a “comprehensive” victory.
Following the ruling, Ashley said: “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.”