Sports Direct tycoon Mike Ashley tells High Court 'I'm a power drinker'
STORE boss Mike Ashley told the High Court yesterday he was a “power drinker” who prefers to spend his life looking forward.
Store boss Mike Ashley told the High Court yesterday he was a 'power drinker'
The Sports Direct founder, who also owns Newcastle United football club, told Mr Justice Leggatt: “I like to get drunk. I am a power drinker.”
But he added: “I’m a person who spends 99 per cent of my life looking forward. Not driving in the rear-view mirror.”
Mr Ashley, 52, is being sued by an investment banker who claims he owes him a £15million bonus for boosting Sports Direct’s share price.
The Sports Direct founder also owns Newcastle United football club
Jeffrey Blue claims Mr Ashley promised him the one-off extra payment during a night of heavy drinking at a London pub.
He claimed the billionaire went back on the offer and only paid him £1million.
The businessman said earlier in the hearing that he cannot remember details of their night at the Horse & Groom pub in central London.
Jeffrey Blue claims Mr Ashley promised him the one-off extra payment of £15m
Mr Ashley was asked yesterday how much Mr Blue had drunk. “He would never have been able to keep up,” said Mr Ashley.
I like to get drunk. I am a power drinker
“He’s a lightweight when it comes to drinking.”
He added: “I find it incredible that Mr Blue is suggesting that I made a binding agreement for £15million. It’s nonsense. If I did say to Mr Blue that I would pay him £15million if he could increase the share price to £8, it would be obvious to everyone, including Mr Blue, that I wasn’t being serious.”
He claimed the billionaire went back on the offer and only paid him £1million
The father of three told the court earlier: “Serious, serious decisions are not done on drunken nights out.”
Cross-examined by Mr Blue’s barrister Jeffrey Chapman QC, he said: “If you are trying to portray the impression that I just merrily make massive decisions at the pub you are talking total ****.”
He said of the night the alleged bonus offer was made: “I can’t remember the detail of these conversations. But I do remember that we had a lot of drinks and a lot of banter.
“We were pulling each other’s legs about what hypothetical value my shares would be worth ‘on paper’ at different share prices.”
The case continues.