David Beckham has resolved his lawsuit with Mark Wahlberg's F45 Training. The former soccer star's management firm DB Ventures Limited sued the company for breach of contract in October 2022, seeking more than $10 million in damages after a promotional agreement allegedly failed to pay out “substantial cash and equity compensation", but now both parties have reached an agreement. F45 Training Holdings Inc.
explained DB Ventures Limited have agreed to drop the lawsuit against F45 Training and David will stay on as an ambassador for the company. Dan Dienst, Executive Vice Chairman of Authentic Brands Group, which has a controlling stake in David's management business, said in a statement: "We are pleased to have settled this issue and to retain our investment in F45, and wish the team all the best for the future." Journalism for the curious Australian across politics, business, culture and opinion.
Tom Dowd, CEO of F45 Training added in his own statement: "For a long time, F45 has been — and continues to be — a supporter of Beckham, as he has been for our brand, and are pleased to have reached a mutual business decision to resolve the matter." The lengthy lawsuit previously explained David had signed up for a deal which should have generated millions of dollars in yearly payments in exchange for the rights to use his image and brand, but things went wrong when F45 allegedly “began to falter” earlier this year due to “fiscal mismanagement and macroeconomic pressures..
