I’m fat as a barrel, not very bright and often drink 6 pints after work
Maybe it’s why I can’t remember offering anyone £15m, Sports Direct boss tells court
SPORTS Direct boss Mike Ashley has dismissed claims that he promised £15million to a banker during a drunken night out, but admitted being so inebriated he cannot even recall the conversation.
It came during colourful testimony in the High Court in which the 52-year-old tycoon compared himself to a Star Wars character, described himself as ‘fat as a barrel’ and ‘not very bright’, and said he would typically have six beers during a post-work drink.
The civil trial is adjudicating on a claim by investment banker Jeffrey Blue, who says that during a drinking session in London Mr Ashley promised him £15million if he increased Sports Direct’s value to £8 a share.
He says Mr Ashley paid him only £1million and is seeking £14million in damages. Mr Ashley argues Mr Blue is ‘trying to take me for £14million off the back of some drunk banter’.
Mr Ashley appeared in the witness box at the Rolls Building, used by the High Court to deal with financial matters, for the first time yesterday.
The hearing shed light on a businessman often seen as reclusive, including the fact that he finds writing ‘a struggle’ and considers six pints just a ‘drink after work’.
At times Mr Ashley, who also owns Newcastle United, struggled to find the correct words, and also asked for documents to be read aloud to him.
At one point he exclaimed: ‘I am not Obi-Wan Kenobi in charge of the Death Star’ – a confused reference to the film Star Wars, in which the Death Star is the base of Darth Vader, Obi-Wan’s implacable enemy.
Mr Ashley said it was ‘absolutely not the norm’ to make big business decisions while inebriated, but asked how much he might drink with senior employees in pubs in the evening, he replied: ‘If I was drinking wine with the food and not beer, I would probeye’ ably have four beers and then wine. Or if I stayed on the beer, I would probably have six beers.’
He added: ‘Serious, serious business decisions are not taken on drunken nights out, as you are trying to proclaim, or whatever the word is.’
He said he went to the drinks at the Horse and Groom pub in Fitzrovia in 2013 as a favour for Mr Blue and would have ‘rather put needles in my than attend. In his witness statement, he said: ‘I don’t just turn up to a venue with someone and negotiate a binding agreement in a few hours over drinks. It was drinks down the pub… nothing more.’
But he admitted: ‘I had drunk so much that I can’t remember which bar we went to.’
Mr Ashley added: ‘I find it incredible that Mr Blue is actually suggesting I made a binding agreement for £15million. It’s nonsense. If I did say I would pay him £15million… it would be obvious to everyone, including Mr Blue, that I wasn’t being serious.’
Jeff Chapman QC, for Mr Blue, asked the tycoon if his employees would expect him to follow through on something he said he would do.
Mr Ashley replied that it depended on the situation, adding: ‘I could say I should go to the gym, because I’m as fat as a barrel and clearly going to die, so I should leave work early and pop off to the gym.’
Describing how he discouraged his staff from taking him to ‘meet-andgreet soirees’ because he does not consider himself clever enough, he said: “I know how disappointing it is when [people] meet me and think, “Jesus, is that it? I thought I was going to meet a bright bloke”.’
He also suggested people have the wrong impression of him and believe he is like a James Bond villain. ‘Everybody thinks I just sell it off and go to the beach,’ he said. ‘Honestly, I am fat enough. I don’t need any more food.’
Three brokers who attended the drinking session agreed earlier that a discussion about a reward for Mr Blue did take place, but that it was nothing more than ‘drunk banter’.
Mr Ashley’s cross-examination continues today.
Ashley’s £750,000 gamble – Page 71
‘I am not Obi-Wan on the Death Star’