The £250,000 libel damages awarded to Southampton football club chairman Rupert Lowe in December last year have been cut to £50,000.
The damages had set a new recent record for libel payouts, when Lowe sued over a comment piece in The Times which described him as "shabby".
Times Newspapers contacted Press Gazette this week to reveal that it had settled the case for £50,000 after agreeing with Lowe's lawyers not to pursue appeals on either damages or liability.
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