David Beckham has settled his lawsuit with F45, the fitness company co-owned by actor Mark Wahlberg, after claiming he was left nearly $11 million out of pocket for a deal to serve as a brand ambassador.
Soccer legend Beckham filed the $18.8 million lawsuit in October 2022, accusing F45 of breach of contract two years after signing a promotional deal with the company.
The lawsuit, which sought damages from Wahlberg’s Mark Wahlberg Investment Group as well as F45 founders Adam Gilchrist and Rob Deutsch, alleged that he did not receive due compensation for his association with F45 after promoting his own range of workouts. personalized through the brand.
As part of the deal, Beckham’s firm, David Beckham Ventures Ltd, claimed shares in the company were also pledged in early 2022, only to not disclose them until months later, when the price had plummeted from around $12 per share. at $3 per share. share.
David Beckham settled his lawsuit with F45, the fitness company also co-owned by actor Mark Wahlberg (right)
DBVL believed the delay cost the former England captain approximately $10.8 million in potential earnings.
However, seven months before the case went to trial, Beckham’s lawyers settled his breach of contract lawsuit with Wahlberg and F45, according to People.
In a press release on Thursday, F45 is quoted as saying it has “reached an agreement that resolves an earlier lawsuit brought by DB Ventures Limited, which concerned an embassy deal for David Beckham.”
F45 Training CEO Tom Dowd is also quoted as saying: “F45 has long been, and continues to be, an advocate for Beckham, as it has been for our brand, and we are delighted to have reached a decision mutual trade”. to resolve the matter.’
Dowd added, “We are excited about our future and the continued growth of our world-class fitness brands that generated strong total April systemwide sales of $48.9 million.”
Beckham claims he was left $11 million out of pocket after F45 breached the terms of his contract
The football legend promoted F45 to his millions of Instagram followers as part of his deal, before suing the company for $19 million in damages.
Beckham and Wahlberg became friends after the former moved to Los Angeles in 2007.
Beckham and Wahlberg, who bought a 36 percent stake in F45 in 2019, became friends after the former Manchester United and Real Madrid star moved to Los Angeles in 2007, when he joined the LA Galaxy team. Major League Soccer.
He agreed to become a global ambassador for F45 in November 2020, before photographs showed him working out on branded equipment at one of its gyms.
Beckham also shared posts promoting the Australian company with his millions of Instagram followers as part of the deal. Those posts have since been deleted.
He initially sued F45 along with golf legend Greg Norman in 2022, only for California courts to rule that they had to file separate lawsuits.
