The former English soccer star David Beckham is entangled in a court battle against F45, a popular global fitness brand co-owned by the actor and entrepreneur Mark Wahlberg.
Mr. Beckham claims that F45 failed to live up to its contractual agreement after he signed a promotional deal to help grow the brand in 2020 before its initial public offering.
Now, Mr. Beckham claims that F45 failed to issue the “substantial cash and equity compensation” that was outlined in their original agreement.
F45 entered into a promotional agreement with Mr. Beckham through his company DB Ventures Limited in 2020, according to court documents.
In the years that followed, Mr. Beckham claims, F45 failed to follow through on at least two promises: transfer nearly one million shares of stock in a timely manner, and issue $5 million worth of additional shares.
Persons:
David Beckham, Mark Wahlberg, Mr, Beckham, ” Mr
Organizations:
Mr, DB Ventures