David Beckham sues Mark Wahlberg over $10M fitness deal loss
Soccer legend David Beckham has filed a lawsuit against Hollywood actor Mark Wahlberg over an alleged loss of more than $10M. The dispute is linked to Wahlberg's fitness brand, F45 Training, where Beckham claims he was promised shares in exchange for endorsing his unique workout range. Beckham's firm, DB Ventures, alleges that Wahlberg misled the former Manchester United star and claims that shares promised to him were not handed over until their value had significantly plummeted.
Beckham's role as F45 Training ambassador under scrutiny
Beckham had agreed to serve as a global ambassador for F45 Training after moving to Los Angeles. The fitness brand, founded by Adam Gilchrist and Rob Deutsch in Australia in 2012, operates across 60 countries offering high-intensity group workouts. Beckham was prominently showcased in several F45 promotional posts on social media, which have since been removed. The lawsuit also implicates other defendants including Wahlberg's investment firm, Mark Wahlberg Investment Group, and F45 founders Gilchrist and Deutsch.
Delayed share allocation led to Beckham's alleged loss
Beckham's legal team argues that the shares he was promised were not allocated until months after the agreed date in early 2022. During this delay, the share price of F45 drastically fell from approximately $12 a share to $3 a share. This resulted in an alleged potential profit loss of nearly $8.5M for Beckham, leading to the current lawsuit against Wahlberg and his co-defendants.
Wahlberg and co-defendants seek dismissal of Beckham's lawsuit
In response to the allegations, Wahlberg and his co-defendants have moved to dismiss the case, arguing that claims of "fraudulent conduct" are unfounded. In their motion to dismiss, they suggested that Beckham was attempting to shift blame onto others. The friendship between Beckham and Wahlberg reportedly began after the soccer star relocated to the same Los Angeles neighborhood as the actor in 2007. Wahlberg later purchased a minority stake in F45 through his investment firm and FOD Capital in 2019.
Beckham originally sued F45 Training jointly
Interestingly, Beckham had first attempted to file the suit against F45 Training along with LIV Golf CEO Greg Norman in October 2022. Norman had his own issue. However, a judge ruled that they had to file separate lawsuits. Meanwhile, F45's share price has not rebounded since its initial price of $16, with shares currently valued at a mere 15 cents according to recent market data.
