David Beckham Sues Mark Wahlberg Over Multi-Million Pound Fitness Deal

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21/04/2024 20h29

Former friends turned adversaries, David Beckham and Mark Wahlberg, are embroiled in a legal battle as Beckham files a lawsuit against Wahlberg. The lawsuit alleges that a fitness deal gone wrong has resulted in Beckham missing out on millions of pounds.

Beckham and Wahlberg initially became friends when Beckham relocated to Los Angeles more than 15 years ago. Living in the same neighborhood, their friendship was cemented during Beckham's transition from Real Madrid to LA Galaxy. However, their relationship soured when Beckham became the global ambassador for fitness brand F45.

According to Beckham's company, DB Ventures Ltd, they were misled into collaborating with F45, which Wahlberg became a minority shareholder of in 2019. In the subsequent year, Beckham agreed to work with the company and featured in promotional posts that have since been deleted.

The focus of the case, which has been ongoing for several years, revolves around shares that were promised to Beckham. DB Ventures Ltd claims that these shares were supposed to be handed over in early 2022, but a significant delay occurred, resulting in a sharp drop in value. The value of an F45 share dipped from $15 (£12.13) in February to under $4 (£3.23) by mid-year.

Lawyers argue that due to this delay, Beckham potentially lost out on £8.5 million in profits. Wahlberg's business, the Mark Wahlberg Investment Group, and F45 founders Adam Gilchrist and Rob Deutsch are also named as defendants in the lawsuit. They vehemently deny the allegations of fraudulent conduct and have motioned for the case to be dismissed, claiming the lawsuit lacks merit.

Initially, Beckham had joined forces with golfer Greg Norman in claiming owed sponsorship payments in both cash and stock. Unfortunately, the F45 stock failed to recover from its downward spiral, and currently, each share is worth a mere 15c (12p).

As this legal battle unfolds, there are mounting tensions between Beckham and Wahlberg. LADbible has reached out to representatives for both Beckham and Wahlberg for their comments on the matter.

It remains to be seen how this controversy will ultimately be resolved and whether Beckham will be compensated for the alleged financial losses incurred during the ill-fated fitness deal.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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