The former English soccer star David Beckham is currently embroiled in a legal battle against the popular global fitness brand F45, which is co-owned by actor and entrepreneur Mark Wahlberg. Beckham claims that F45 did not fulfill its contractual obligations after he signed a promotional deal to help grow the brand in 2020 before its initial public offering.
According to court documents, Beckham’s lawyers argue that F45 greatly benefited from their relationship with the soccer star, as he enhanced the brand’s public profile and credibility. However, Beckham alleges that F45 failed to provide him with the “substantial cash and equity compensation” outlined in their agreement when the business began to struggle in 2022 due to fiscal mismanagement and macroeconomic pressures.
The crux of the lawsuit revolves around F45’s failure to transfer nearly one million shares of stock to Beckham in a timely manner, as well as not issuing $5 million worth of additional shares as promised. Beckham claims that the delay in transferring the initial shares resulted in a loss of $9.3 million due to a dip in the stock price.
In May 2023, Beckham filed a lawsuit seeking damages in excess of $14 million from F45, excluding interest. Representatives for both parties have not yet commented on the lawsuit, but F45’s lawyers have denied multiple allegations and accused Beckham of not fulfilling his own obligations.
This is not the first time F45 has faced legal action from a notable figure. In 2017, former N.F.L. wide receiver Terrell Owens sued the company for failing to pay him over $700,000 in accordance with their agreement. F45 disputed Owens’ claims, calling them a “total fabrication.”
It remains to be seen how the court will rule in Beckham’s case against F45, but the lawsuit has certainly brought attention to the business practices of the popular fitness brand.
