Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 26 JULY 2018

Are Drunken Contracts Binding?

Bell Lax Solicitors
Explore more from Bell Lax Solicitors

The outcome of the recent case involving billionaire Mike Ashley, the owner of Newcastle United and founder of Sports Direct, suggests not.

United KingdomCorporate/Commercial Law
George Gwynn
George Gwynn

Could you jokingly agree to a million pound deal whilst enjoying a pint with your friends, only to find that a binding contract was formed? The outcome of the recent case involving billionaire Mike Ashley, the owner of Newcastle United and founder of Sports Direct, suggests not.

The case hinged on an evening of heavy drinking in 2013 in which Jeffrey Blue, a former investment banker enjoyed plenty of drinks with Mr Ashley and others. Mr Blue claimed that the billionaire agreed to pay him £15m if he helped Sports Direct's shares to double in value.

Witness evidence suggested there was a verbal agreement to that effect. Sports Direct shares did double in value, yet the Court decided that no contract existed.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Takeover Trends In 2026

The UK public M&A market in 2026 has already surpassed 2025's total value in just eight months, driven by large-cap deals and a quest for transformational scale. Hostile tactics have become increasingly prominent as bidders appeal directly to shareholders amid persistent valuation gaps, while target boards leverage pre-offer processes to maximize value. This analysis examines the key trends, strategic themes, and tactical developments shaping this remarkable year for UK takeovers.
United KingdomCorporate/Commercial Law
Slaughter and May
Slaughter and May
Article

The National Security And Investment Act 2021: Five Years On – What You Need To Know

The National Security and Investment Act 2021 (NSIA) came into force on 4 January 2022, creating a standalone regime giving the UK Government broad powers to scrutinise – and potentially intervene in – acquisitions and investments on the grounds of protecting national security. Nearly five years on, the NSIA regime is well established. It replaced the national security aspects of the UK Government’s intervention powers under the Enterprise Act 2002 and operates alongside the UK merger control regime.
United KingdomCorporate/Commercial Law
Fox Williams LLP
Fox Williams LLP
Article

Parliament’s Position On SFDR 2.0

The European Parliament's Committee on Economic and Monetary Affairs has adopted its position on the Sustainable Finance Disclosure Regulation reform, establishing key divergences with the European Commission and Council on professional investor exemptions and fossil fuel investment criteria. With trilogue negotiations set to begin in October 2026, private markets managers face critical decisions about how to position their funds under the new three-category framework expected to take effect in early 2029.
United KingdomCorporate/Commercial Law
Proskauer Rose LLP
Proskauer Rose LLP
Article

Manchester City: Independent Commission Publishes Decision On Premier League Charges

An independent Premier League Commission has found Manchester City in breach of financial rules spanning nine seasons, with findings that the club artificially inflated revenues and reduced costs by over £900 million. The decision marks what the Premier League describes as the most significant case in its history, though Manchester City strongly disputes the findings and intends to appeal, setting the stage for further proceedings that could reshape English football's regulatory landscape.
United KingdomCorporate/Commercial Law
Mishcon de Reya LLP
Mishcon de Reya LLP
Article

Corporate Update Bulletin - 3 September 2026

This Corporate Update bulletin examines the most significant UK legal developments of 2026, from capital markets reform and employment rights legislation to corporate criminal liability expansion and competition regime changes. The analysis covers ten major areas of corporate law evolution, alongside recent FCA guidance on regulatory announcements and a High Court decision on shareholder-director settlements.
United KingdomCorporate/Commercial Law
Slaughter and May
Slaughter and May
Article

Spotlight On Agentic AI | Liability

As businesses increasingly deploy agentic AI systems capable of autonomous decision-making and actions, questions arise about supplier liability when AI agents malfunction or produce unexpected results. This article examines the contractual frameworks governing agentic AI relationships, revealing how standard IT contracts may inadequately address the unique risks of autonomous AI systems and exploring strategies for customers to better protect themselves against potential losses from AI agent failures.
United KingdomCorporate/Commercial Law
Bristows LLP
Bristows LLP