Sports Direct chairman tells court boss Mike Ashley only pledged £1m

Mike Ashley has dismissed the conversation with Jeffrey Blue as "drunken banter"

An investment banker who claims Sports Direct boss Mike Ashley owes him £14m told the firm's chairman he was only being paid £1m, a court has heard.

Jeffrey Blue is suing Mr Ashley, saying that during a pub meeting he was promised £15m if he used his expertise to increase the firm's share price.

But Sports Direct chairman Keith Hellawell, said Mr Blue only mentioned the figure of £1m.

The High Court in London heard Mr Blue had been paid £1m for "other deals".

Mr Ashley, who also owns Newcastle United, has previously told the court the conversation with investment banker Mr Blue in a London pub four years ago was "drunken banter".

Mr Hellawell, a former chief constable of West Yorkshire Police before he embarked on a business career, said he had a conversation with Mr Blue three years ago.

"He had told me £1m - I was very clear on what he said in that conversation," he said.

Jeffrey Blue claims he was promised £15m by Mr Ashley

Mr Ashley has told Mr Justice Leggatt that he did not make a share price increase agreement with Mr Blue and had paid him £1m for other business.

Lawyers are due to outline closing legal arguments on Wednesday, and the judge is expected to deliver a ruling later in the year.