Mike Ashley agreed to pay a £750,000 legal bill

05.07.2017 / 11:08

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Sports Direct founder Mike Ashley agreed to settle a £750,000 legal bill after a banker correctly guessed how many coins he had in his hand, a court has been told.

The incident allegedly took place at a meeting with Merrill Lynch bankers on the final night of Sports Direct's IPO process in 2007.

Jeff Blue, a former Merrill Lynch banker who is suing Ashley, claims the billionaire was "bored and frustrated by the negotiations" over fees and keen to get to Mayfair members club and casino Fifty St James.

Ashley left a meeting before the matter of who would pay Merrill Lynch's legal bill was settled. Ashley allegedly didn't want to return to the meeting, instead proposing a game of "spoof" to settle the matter.

"Spoof" is a game of chance popular among bankers where players take a handful of coins and must guess how many are held between all the players. Mackenzie-Smith "reluctantly agreed," Blue claims. Ashley lost and Sports Direct paid Merrill Lynch's £750,000 legal bill.

Source: Business Insider
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Mike Ashley agreed to pay a £750,000 legal bill

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