Two big stars are going to court over a failed investment in a gym chain.
Football legend David Beckham and F45 brand boss and actor Mark Wahlberg will face each other in court in a full jury trial in January 2025.
Beckham's company, DB Ventures Ltd, claims in the lawsuit that Mark Wahlberg Investment Group “cheated” the soccer star when he became the global ambassador for F45. Beckham is claiming a “breach of contract” and the loss of more than $10 million in a botched endorsement deal.
Connected: What businesses does Mark Wahlberg own? F45 at Wahlburgers
Beckham claims that F45 promised him a $1.5 million contract in addition to company stock six months later The F45 went public in July 2021 and again in 12 months.
The lawsuit alleges that F45 did not pass on the stock eight months after the original due date, and in that period, the stock reached a level that Beckham lost about $10 million.
“Despite DBVL supporting its favorable termination, however, F45 failed to release substantial cash and equity compensation to DBVL as required by the parties' agreement,” complaint presented by DB Ventures Limited read.
Beckham is also suing F45 co-founders Adam Gilchrist and Rob Deutsch.
The lawsuit, which was originally filed in 2022, was met with opposition from the F45 team who tried to have the lawsuit dismissed. The request was rejected in September 2023.
David Beckham attends the David Beckham and F45 DB45 Training Launch on May 09, 2022 in Miami, Florida. (Alexander Tamargo/Getty Images for F45 training)
“This is a breach of contract action that cannot stand because it is based on a distorted reading of the parties' agreement that is contrary to its plain language and clear intent,” the motion to dismiss said, according to. THE FOX.
Connected: Victoria Beckham says she grew up working class, David Balks
Beckham's deal was reportedly signed in 2020 for five years, although it wasn't publicly announced until 2021.
“This partnership is an exciting business venture for me as well, and I look forward to the journey with the F45 as the business continues to expand globally,” said Beckham. in a statement in that time.
Beckham, who has 87 million Instagram followers, has since deleted the F45 promotional posts from his page.