David Beckham ‘settles $19m lawsuit with Mark Wahlberg’s F45 fitness company’ after claiming breach of contract left him $11m out of pocket
David Beckham has settled his lawsuit with F45 – the fitness company co-owned by actor Mark Wahlberg – after claiming he was pocketed almost $11 million from a deal to act as an ambassador for the brand.
Football 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 and from F45 founders Adam Gilchrist and Rob Deutsch, alleged that he received no compensation due for his partnership with F45 after launching his own range of personalized workouts through the brand promoted.
As part of the deal, Beckham’s firm – David Beckham Ventures Ltd – claimed shares in the company were also promised in early 2022 – only to be revealed months later, when the price had fallen from around $12 per share to $3 per share . part.
David Beckham has settled his lawsuit with F45 – the fitness company co-owned by actor Mark Wahlberg (right)
DBVL believed that delay cost the former England captain an estimated $10.8 million in potential profits.
But seven months before the case was set to go to trial, Beckham’s lawyers settled their breach of contract lawsuit with Wahlberg and F45, according to People.
In a press release on Thursday, F45 said it “has reached an agreement to resolve a previous lawsuit brought by DB Ventures Limited, which related to an ambassadorial deal for David Beckham.”
CEO of F45 Training Tom Dowd also said: ‘F45 has long been – and continues to be – a supporter of Beckham, just as he has been for our brand, and we are pleased to have reached a mutual business decision . to solve the case.’
Dowd added, “We are excited about our future and the continued growth of our world-class fitness brands, which generated robust total systemwide revenue of $48.9 million in April.”
Beckham claimed he was paid $11 million out of his own 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 ex-Manchester United and Real Madrid star moved to Los Angeles in 2007 when he joined Major League Soccer team LA Galaxy.
He agreed to become a global ambassador for F45 in November 2020 – before photos showed him training with branded equipment at one of the fitness centres.
Beckham also shared posts promoting the Australian company to his millions of followers on Instagram as part of the deal. Those messages have now been deleted.
He initially sued F45 along with golf legend Greg Norman in 2022, but California courts reportedly ruled they must file separate lawsuits.