Mike Ashley, the founder and controlling shareholder of Sports Direct International (SDI) is allegedly facing a lawsuit around a compensation of £15 million (€20.0m-$21.8m) discussed with Jeff Blue, a former investment banker who was in charge of strategic development at SDI for nearly two and a half years until March 2015. The Times reported the alleged discussion between Ashley, Blue and three bankers from Espirito Santo at the Horse and Groom pub on London's Great Portland Street in 2013. The newspaper claims to have seen court documents alleging that Ashley offered Blue a payment of £15 million if he managed to improve SDI's standing in the City and double SDI's share price to £8 in three years. The shares did reach that level in February 2014. Blue, a former Merrill Lynch banker, is alleged to be suing for £14 million. Based on the same court documents, Ashley reportedly stated that a considerable amount of alcohol was consumed that night and that any conversation was just “banter.” No reaction could be obtained from Blue or Ashley's advisers at the time of writing.

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