Current:Home > MyDavid Beckham Files Lawsuit Against Mark Wahlberg-Backed Fitness Company -Stellar Wealth Sphere
David Beckham Files Lawsuit Against Mark Wahlberg-Backed Fitness Company
View
Date:2025-04-22 02:36:58
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! (36614)
Related
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Arizona State Primary Elections Testing, Advisory
- Schumer and Jeffries endorse Kamala Harris for president
- Proposal to create a new political mapmaking system in Ohio qualifies for November ballot
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- House leaders announce bipartisan task force to probe Trump assassination attempt
- Demonstrators stage mass protest against Netanyahu visit and US military aid to Israel
- 'Horrifying': Officials, lawmakers, Biden react to deputy shooting Sonya Massey
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Russia sentences U.S. dual national journalist Alsu Kurmasheva to prison for reporting amid Ukraine war
Ranking
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Brandon Aiyuk reports to 49ers training camp despite contract extension impasse
- Agreement halts Cowboys owner Jerry Jones’ countersuit trial against woman who says he’s her father
- Bette Midler and Sheryl Lee Ralph dish on aging, their R-rated movie 'Fabulous Four'
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Agreement halts Cowboys owner Jerry Jones’ countersuit trial against woman who says he’s her father
- Donald Trump and Bryson DeChambeau aim to break 50 on YouTube: Five takeaways
- Swiss manufacturer Liebherr to bring jobs to north Mississippi
Recommendation
Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
Man pleads guilty to bribing a Minnesota juror with a bag of cash in COVID-19-related fraud case
Tesla’s 2Q profit falls 45% to $1.48 billion as sales drop despite price cuts and low-interest loans
How historic Versailles was turned into equestrian competition venue for Paris Olympics
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
She got cheese, no mac. Now, California Pizza Kitchen has a mac and cheese deal for anyone
Voters who want Cornel West on presidential ballot sue North Carolina election board
What is social anxiety? It's common but it doesn't have to be debilitating.