Current:Home > MyDavid Beckham Files Lawsuit Against Mark Wahlberg-Backed Fitness Company -CapitalCourse
David Beckham Files Lawsuit Against Mark Wahlberg-Backed Fitness Company
View
Date:2025-04-12 09:55:26
It's David Beckham versus Mark Wahlberg.
The soccer star's firm DB Ventures filed a lawsuit against the fitness organization F45 Training, which is backed by the actor, in April 2023, Today reports while citing court documents obtained by NBC News.
Per a copy of the complaint reviewed by outlet, Beckham formed a five-year agreement with F45 Training in 2020 to help it grow before it went public in July 2021—such as by sharing social media posts about the brand that have since been deleted.
Today, citing the complaint, reports that F45 Training agreed to pay Beckham $1.5 million a year for his services as well as company stock that would be offered to him six months and then 12 months after its public offering.
However, attorneys for Beckham's DB Ventures allege that F45 Training didn't hold up its end of the bargain and that it didn't transfer and register the shares of stock until about eight months after the date the parties agreed to despite Beckham's attorneys sending several letters asking for this issue to be corrected, Today reports citing the court documents.
During this eight-month period, the complaint reportedly continues, F45 Training's stock price dropped—with Beckham's attorneys claiming the stock shares were worth approximately $9.3 million less than they were in January 2022.
As a result, Beckham's DB Ventures is suing F45 Training for $9.3 million, plus an additional $5 million, as well as $4.5 million he says he was set to receive for the rest of his agreement with F45 Training, Today writes citing the complaint.
However, attorneys for F45 Training denied these allegations and argued it did provide Beckham the agreed-upon shares, according to an answer to the complaint obtained by Today. Per the outlet, the organization filed a motion to dismiss the lawsuit but it was denied in September 2023.
Wahlberg first became a strategic investor in F45 Training in 2019 and was named chief brand officer of the organization in 2023.
Meanwhile, David's partnership with F45 Training was announced in August 2021, with the retired athlete describing his bond with the Oscar nominee and sharing his thoughts on the company in a blog post.
"I've been a fan of the F45 franchise and training model since being introduced by my friend, Mark Wahlberg," he wrote on F45 Training's website at the time. "Health and fitness have always been a big part of my life and, since my days playing football, I have always found I'm at my best when training as part of a team."
"F45 has a strong community and trainers that help you reach your goals and achieve powerful results," Beckham had added. "This partnership is an exciting business venture for me also, and I'm looking forward to the journey with F45 as the business continues to expand globally."
E! News has reached out to Beckham and Wahlberg's teams for comment but has yet to hear back.
(E! and NBC News are both part of the NBCUniversal family).
For the latest breaking news updates, click here to download the E! News AppveryGood! (969)
Related
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Grow Apart
- PGA Tour star Grayson Murray dead at 30
- What’s open and closed on Memorial Day
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Drowning is a top cause of death for young children. Here's what parents should know.
- Chiefs’ Butker has no regrets about expressing his beliefs during recent commencement speech
- Utah man declined $100K offer to travel to Congo on ‘security job’ that was covert coup attempt
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Memorial Day weekend in MLS features Toronto FC vs. FC Cincinnati, but no Messi in Vancouver
Ranking
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- Here’s what every key witness said at Donald Trump’s hush money trial. Closing arguments are coming
- Senate Democrats seek meeting with Chief Justice John Roberts after Alito flag controversy
- Millie Bobby Brown and Jake Bongiovi's First Pics After Wedding Prove Their Romance Is an 11 Out of 10
- What to watch: O Jolie night
- Jackie Robinson is rebuilt in bronze in Colorado after theft of statue from Kansas park
- Watch our Memorial Day tribute to the military who sacrificed all to serve their country
- Walmart ends credit card partnership with Capital One, but shoppers can still use their cards
Recommendation
Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
How many points did Caitlin Clark score last night? Top pick hits dagger 3 to seal Fever's first win
Utah man declined $100K offer to travel to Congo on ‘security job’ that was covert coup attempt
Will Pacers' Tyrese Haliburton, Celtics' Kristaps Porzingis play in Game 3 of East finals?
How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
Bird flu virus detected in beef from an ill dairy cow, but USDA says meat remains safe
Shot at Caitlin Clark? Angel Reese deletes post about WNBA charter flights, attendance
A top personal finance influencer wants young adults to stop making these money mistakes