Two major stars are heading to court over a failed investment in a chain of gyms.
Soccer legend David Beckham and F45 Chief Brand Officer and actor Mark Wahlberg will face each other in court in a full-jury trial in January 2025.
Beckham’s company, DB Ventures Ltd, alleges in the lawsuit that Mark Wahlberg Investment Group “duped” the soccer star when he became F45’s global ambassador. Beckham is claiming a “breach of contract” and the loss of more than $10 million in a failed endorsement deal.
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Beckham claims that F45 promised him a $1.5 million contract in addition to shares of the company six months after F45 went public in July 2021 and again at 12 months.
The suit claims that F45 did not fork over the shares eight months past the original due date and in that period, shares tanked to a level that Beckham lost an estimated $10 million.
“Despite DBVL upholding its end of the bargain, however, F45 failed to issue substantial cash and equity compensation to DBVL as required by the parties’ agreement,” the complaint filed by DB Ventures Limited read.
Beckham is also suing F45’s co-founders, Adam Gilchrist and Rob Deutsch.
The lawsuit, which was originally filed in 2022, was met with opposition by the F45 team who tried to have the lawsuit dismissed. The request was denied in September 2023.
David Beckham attends the David Beckham and F45 Training Launch DB45 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 skewed reading of the parties’ agreement that is contrary to its plain language and clear intent,” the request for dismissal read, according to FOX.
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Beckham’s deal was reportedly inked in 2020 for five years, though it was not publicly announced until 2021.
“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,” Beckham said in a statement at the time.
Beckham, who has 87 million Instagram followers, has since deleted the promotional F45 posts from his page.
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