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Soccer legend David Beckham has filed a lawsuit against his ex-pal, actor Mark Wahlberg, claiming he was “duped” out of $10 million over a business venture.
The impetus for the lawsuit stems from Beckham being hired to become the global ambassador and promote the F45 Training fitness brand co-owned by Wahlberg in 2020. Beckham and Wahlberg became acquainted while the soccer star was playing for the Los Angeles Galaxy of the MLS when David moved into the same Los Angeles neighborhood in 2007.
As global ambassador, RadarOnline.com reports that Beckham made himself available for events, press, photo and video shoots, and other promotional duties, according to his attorney. He also agreed not to do work for any competing fitness companies for a period of five years.
“Recognizing the importance of that relationship to its brand strategy, and of preventing Beckham from associating himself with competitors like Equinox, CrossFit, Barry’s Bootcamp and Soul Cycle, F45 agreed to pay DBVL substantial cash and equity compensation, and to continue paying it substantial compensation even if the agreement was terminated due to F45’s material breach,” David Beckham’s lawyer wrote in court documents.
“After enjoying immense success through its public association with Beckham, F45 now argues it was never obligated to compensate DBVL for Beckham’s services—and that it never had the legal ability to render that compensation, despite representing and warranting that it did.”
David Beckham’s company DB Ventures is also suing the Mark Wahlberg Investment Group and F45 Training founders Adam Gilchrist and Rob Deutsch, who launched the company in 2012 in Australia.
Beckham claims he lost $10 million when shares in the company that he was promised were not given to him until after the share prices bottomed out.
According to the Telegraph, “Beckham’s firm DB Ventures Ltd (DVBL), alleges that shares in the company were promised to be shared in early 2022, but they were not divulged until months later – by which time the price had gone from around $12 a share to $3 a share.”
Mark Wahlberg and his co-defendants say Beckham’s claims of “fraudulent conduct” are false and have asked the judge to dismiss the lawsuit.