David Beckham is suing Mark Wahlberg's fitness company for $14 million—making him the third former pro athlete to do so [Yahoo! Finance]
F45 Training Holdings Inc. (FXLV)
Company Research
Source: Yahoo! Finance
The soccer icon is suing F45 Training, a fitness company co-owned by the actor, claiming it owes him millions of dollars for an endorsement deal. According to court filings, Beckham entered a five-year agreement in 2020 to be a brand ambassador for F45. The company said it would pay Beckham $1.5 million per year, the filings said, in addition to shares of the company six months and 12 months after it went public. In court filings, Beckham's management business said F45 did not pay him the promised “substantial cash and equity compensation” for his endorsement, even after its IPO in July 2021. It claims F45 failed to make good on the following promises: to transfer nearly 1 million shares to Beckham within the time period outlined, and to issue $5 million worth of additional shares. Beckham claimed he received the initial shares eight months later than promised—by then, F45's stock had declined, costing him $9.3 million, he said. The Inter Miami co-owner sued the fitness chain i
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News
- F45 Training Becomes First Global Functional Fitness Franchise Offering Group Activities on Strava [Yahoo! Finance]Yahoo! Finance
- F45 Training Enters Newly Minted Master Franchise Agreement in South Africa [Yahoo! Finance]Yahoo! Finance
- David Beckham's company settles $10M lawsuit with Mark Wahlberg's F45 [FOX Business Network]FOX Business Network
- F45 Training and David Beckham Resolve Past Business Dispute [Yahoo! Finance]Yahoo! Finance
- HYROX Announces F45 Training as Official Training Partner [Yahoo! Finance]Yahoo! Finance