David Beckham Suing Mark Wahlberg's Fitness Company For $10 Million
David Beckham is suing Mark Wahlberg after a brand deal went sour.
Beckham's company, DB Ventures Limited, alleges that the former soccer star was "duped" into signing on with F45 Training, Wahlberg's fitness company. Now, Beckham says the deal has cost him more than $10 million, according to The Sun,w which cited a lawsuit.
The two stars became friends after Beckham relocated to Los Angeles in 2007 when he signed a deal to join Major League Soccer's LA Galaxy. He then agreed to become the global ambassador for F45 in November 2020. As part of the gig, Beckham shared his own personalized workouts and promoted the company to his 87 million Instagram followers. Those posts have since been deleted.
According to documents obtained by The Sun, DB Ventures claims Beckham was promised shares in F45 in early 2022, but the shares weren't divulged until months later. By that time, the price had plummeted from $12 to $3 a share. Beckham's lawyers claim this delay cost him as much as $10.5 million in potential profit.
Shares in the firm are now worth just 15 cents, and the company has been forced to close franchises in several countries, including Australia, the United States, the United Kingdom and Ireland.
Initially, Beckham had teamed up with former pro golfer Greg Norman for the lawsuit, but a judge later told the men they had to sue separately.
Wahlberg and his co-defendants — F45 founders Adam Gilchrist and Rob Deutsch — claim the allegations of "fraudulent conduct" are baseless and have asked a judge to dismiss the lawsuit.