David Beckham Sues Mark Wahlberg's Company for $14 Million: Full Breakdown

Beckham, Norman escalate legal fight with fitness giant F45.

by Nouman Rasool
SHARE
David Beckham Sues Mark Wahlberg's Company for $14 Million: Full Breakdown
© Rich Storry/Getty Images

David Beckham is set to sue Hollywood actor Mark Wahlberg's co-owned fitness firm, F45 Training, over $14 million in late stock payments. The star football legend is accusing the firm of failing to avail his shares on time as per an agreement where he had a.

In November 2020, Beckham became a "global ambassador" of F45 Training in order to promote the brand with the help of his influential Instagram account. In return, he was promised tradable shares when the company went public in July 2021.

However, Beckham's lawsuit, filed in California, asserts that F45 Training did not issue these shares within the stipulated six-month period following their January 2022 IPO. This delay coincided with a sharp decline in F45’s stock value, purportedly costing Beckham around $9.3 million by the time he received the shares.

Adding to the complexity, Beckham's legal team now claims that the F45 company failed to deliver another $5 million in shares that were due in July 2022, according to their contract. F45's legal team has said the fresh allegations should be struck out because the shares were issued on time, and accused Beckham's management company of malpractice.

Legal Battle Escalates

The legal dispute took a new turn when Beckham and Australian golf legend Greg Norman, also an F45 spokesperson, jointly filed a civil suit against F45 and its co-founders, including Wahlberg. However, the case was split by the court, necessitating separate filings.

Recently, Judge Maame Ewusi-Mensah Frimpong rejected an F45 motion to dismiss Beckham's lawsuit, affirming that the soccer star had met his promotional obligations. This lawsuit has attracted significant media attention, particularly after reports surfaced about Wahlberg’s attempt to dismiss a related class-action suit alleging misleading statements by the company.

Beckham's case status is that of a pending nature, with the judge having not set the civil trial date as of now, though it has been scheduled for November. This is F45 Training, founded in 2011 in Sydney, with intense group workouts that have taken off internationally.

In 2019, Mark Wahlberg invested in it when it was valued at $450 million. Now, after its IPO, the share price has collapsed and in 2022, the NYSE delisted it after almost all of its market value was lost. As proceedings continue, both Beckham and F45 are braced for a potential settlement or court battle, with broader implications for celebrity partnerships in corporate branding.

David Beckham
SHARE