David Beckham settles dispute with Mark Whalberg’s F45 Training over Contract Issues

June 8, 2024 sean-star

David Beckham has officially resolved his lawsuit against Mark Wahlberg’s fitness company, F45 Training.

On June 6, F45 Training announced in a press release that it had “reached an agreement resolving a prior lawsuit brought by DB Ventures Limited,” Beckham’s company. The lawsuit, which involved an ambassadorial agreement for Beckham, has been dismissed, and DB Ventures Limited will continue as an investor in F45 Training.

Dan Dienst, executive vice chairman of Authentic Brands Group, expressed satisfaction on behalf of DB Ventures Limited about the settlement and ongoing investment. “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,” Dienst stated.

Tom Dowd, CEO of F45 Training, emphasized the company’s commitment to its partnership with Beckham and highlighted F45’s growth. “F45 has been – and continues to be – a supporter of Beckham, as he has been for our brand. We are pleased to have reached a mutual business decision to resolve the matter,” Dowd said. He also noted the company’s strong year-over-year sales growth.

In October 2022, Beckham sued F45 Training for breach of contract, alleging the company failed to transfer nearly $1 million worth of stock shares and an additional $5 million in shares he was promised. Beckham’s legal team claimed his partnership significantly enhanced F45’s public profile and credibility, but the company withheld millions of dollars as its business struggled.

Beckham sought $18.8 million in damages for the breach, including $14.3 million in damages and $4.5 million for declaratory relief under his contract. Additionally, Beckham claimed he lost $10 million when promised shares were withheld before the stock prices plummeted.

Despite the settlement and dismissal of the lawsuit, the specific terms of the agreement between F45 and Beckham’s company remain undisclosed.

Representatives for Wahlberg and Beckham have been contacted for comment.