- Golden Balls sues over claims F45 fitness brand did not issue shares as promised
- Actor and fitness guru Wahlberg bought a minority stake in the company in 2019
- READ MORE: David Beckham whisks Victoria away for 50th birthday minibreak
Hollywood actor and fitness guru Mark Wahlberg is being sued by David Beckham after a deal that saw the footballer promote the star’s fitness brand turned sour – and allegedly left Golden Balls more than £8million out of pocket.
Becks, 48, is suing the actor and his business associates after the partnership with F45, which saw the midfielder promote his own range of personalised workouts, went south in a row over shares he claimed to have been promised.
The case has rumbled on for several years after Beckham and golfing legend Greg Norman filed cases against F45 in Californian courts in October 2022 – before a judge reportedly ruled they had to file separate lawsuits.
Beckham’s firm, David Beckham Ventures Ltd (DBVL) had earlier sought damages of as much as $18.85million (£15.2million) from F45, according to filings made last year.
But the new case now seeks damages directly from Wahlberg’s Mark Wahlberg Investment Group as well as F45’s founders Adam Gilchrist and Rob Deutsch, according to reports.
David Beckham is suing Mark Wahlberg and his business associates over an alleged loss of £8.5million in shares in fitness firm F45
Hollywood actor Wahlberg bought a minority share in F45 in 2019 via his investment company
Beckham’s tie-up with F45 saw him launch an array of themed workouts – with glossy photos showing him working out with F45-branded fitness gear
He also promoted F45 on his personal social media accounts – with one post made days after the deal was signed (above)
READ MORE: David Beckham and Greg Norman sue F45 for $20million over ‘withheld payments’
Becks and Wahlberg became friends after the footballer and his family relocated to Los Angeles in 2007 when he signed a deal to join Major League Soccer side LA Galaxy.
He then agreed to become the global ambassador for Australian brand F45 in November 2020 – with glossy photographs showing him working out using branded equipment at one of its fitness centres.
He also shared some posts on his Instagram promoting F45 to his millions of followers as part of the deal. The posts have since been deleted.
As part of the deal, DBVL alleges shares in the company were promised to be shared in early 2022 – but the shares were not divulged until months later, by which time the share price had plummeted from around $12 a share to $3 a share.
Beckham’s lawyers claim this cost him as much as £8.5million in potential profit as a result of the delay in issuing his firm with the shares promised in the deal.
The Sun reports that Wahlberg and his co-defendants are seeking to dismiss the allegations of ‘fraudulent conduct’ as baseless and lacking in merit.
F45’s share price in the US has never recovered from its early price of $16.
Shares in the firm are now worth just 15 cents, according to the most recent market data, and the company has been plagued with closures at franchises in several countries including its native Australia, the US, the UK and Ireland.
Wahlberg became a minority shareholder in F45 in 2019 after buying a stake in the company through his investment group.
Representatives for Beckham and Wahlberg have been contacted for comment.
Read more
News Related
-
Window opens for Zahid to ride off into the sunset – but at Anwar’s cost Sources within Umno have not ruled out strong speculation since last month about a so-called “exit plan” for Ahmad Zahid Hamidi, a move that could pave the way for his political retirement having survived more ...
See Details:
Window opens for Zahid to ride off into the sunset – but at Anwar's cost
-
Brianna Ghey died after she was found with fatal stab wounds in a park Two teenagers accused of murdering Brianna Ghey showed a “preoccupation” with “violence, torture and death”, a court has heard. The body of Brianna, 16, who was transgender, was discovered by dog walkers in a park in ...
See Details:
Murder-accused teens 'had preoccupation with torture'
-
ISLAMIC REVOLUTIONARY Guard Corps Commander-in-Cheif Major General Hossein Salami speaks at an anti-Israel protest in Tehran on Saturday. The IRGC trained Hezbollah to use human shields, say the writers. The conflict in Gaza has raised a deeply troubling issue: Reports suggest that Hamas is deliberately using civilians as shields, a ...
See Details:
A plea for Islamic voices against using human shields - opinion
-
Photo for illustration purposes only. – BERNAMA FILE PIX SHAH ALAM – The government needs to strengthen the Malaysia My Second Home (MM2H) programme, especially with the exemption of visas for Chinese and Indian citizens visiting the country starting Dec 1. Universiti Tun Abdul Razak economic expert Emeritus Professor Dr ...
See Details:
Strengthen MM2H programme, promote multiple entry visa
-
GEG element removed from anti-smoking Bill KUALA LUMPUR: The generational end-game (GEG) element has been removed from the revised Control of Smoking Products for Public Health 2023 Bill tabled for the first reading in the Dewan Rakyat on Tuesday (Nov 28). This is as the Health Ministry tries for the ...
See Details:
GEG element removed from anti-smoking Bill
-
-
-
KUALA LUMPUR (Nov 28): National carrier Malaysia Airlines Bhd has launched its year-end sale with ticket prices starting from RM79 to domestic destinations and from RM229 to international destinations, for travellers who book flights between Nov 28 and Dec 11 this year. In a statement, Malaysia Airlines said all-in one-way Economy Class ...
See Details:
Malaysia Airlines launches year-end sale
-
KUALA LUMPUR (Nov 28): National carrier Malaysia Airlines Bhd has launched its year-end sale with ticket prices starting from RM79 to domestic destinations and from RM229 to international destinations, for travellers who book flights between Nov 28 and Dec 11 this year. In a statement, Malaysia Airlines said all-in one-way Economy Class ...
See Details:
Dr M accuses govt of bribery over allocations
-
KUALA LUMPUR (Nov 28): National carrier Malaysia Airlines Bhd has launched its year-end sale with ticket prices starting from RM79 to domestic destinations and from RM229 to international destinations, for travellers who book flights between Nov 28 and Dec 11 this year. In a statement, Malaysia Airlines said all-in one-way Economy Class ...
See Details:
Malaysia to check if the Netherlands still keen to send flood experts
-
KUALA LUMPUR (Nov 28): National carrier Malaysia Airlines Bhd has launched its year-end sale with ticket prices starting from RM79 to domestic destinations and from RM229 to international destinations, for travellers who book flights between Nov 28 and Dec 11 this year. In a statement, Malaysia Airlines said all-in one-way Economy Class ...
See Details:
Appeals court to rule in Isa’s graft case on Jan 31
-
KUALA LUMPUR (Nov 28): National carrier Malaysia Airlines Bhd has launched its year-end sale with ticket prices starting from RM79 to domestic destinations and from RM229 to international destinations, for travellers who book flights between Nov 28 and Dec 11 this year. In a statement, Malaysia Airlines said all-in one-way Economy Class ...
See Details:
Elephants Trample On Axia With Family Of Three Inside
-
KUALA LUMPUR (Nov 28): National carrier Malaysia Airlines Bhd has launched its year-end sale with ticket prices starting from RM79 to domestic destinations and from RM229 to international destinations, for travellers who book flights between Nov 28 and Dec 11 this year. In a statement, Malaysia Airlines said all-in one-way Economy Class ...
See Details:
Sirul fitted with monitoring device
-
KUALA LUMPUR (Nov 28): National carrier Malaysia Airlines Bhd has launched its year-end sale with ticket prices starting from RM79 to domestic destinations and from RM229 to international destinations, for travellers who book flights between Nov 28 and Dec 11 this year. In a statement, Malaysia Airlines said all-in one-way Economy Class ...
See Details:
Nigerian airliner lands at wrong airport
OTHER NEWS
THOSE looking for fresh produce may find themselves spoilt for choice at the biggest wet market in Klang, but visitors to the place say the condition of the facilities and ...
Read more »
Olive Grove is the first-ever gated-and-guarded development in Bercham, Ipoh with 24-hour security. IPOH: YTL Land and Development Bhd announced that Phase 1 of Olive Grove is fully sold while ...
Read more »
Screenshots of a video showing a teenager pointing a knife at an elderly e-hailing driver. PETALING JAYA: Police have arrested a 13-year-old boy for holding an elderly e-hailing driver at ...
Read more »
Sprint Highway’s Semantan To KL Slip Road Fully Closed Until Dec 31 If you’re a regular user of the Sprint expressway, you’ll need to do some planning for your trips ...
Read more »
Genshin Impact Version 4.3 Leak Showcases Update to Domains New leaks reveals a quality-of-life update to Domains in Genshin Impact, making it easier for players to repeat and farm resources. ...
Read more »
CG Computers will host the Urban Republic (UR) Warehouse Clearance from 30 November to 3 December at the Atria Shopping Gallery in Petaling Jaya. During the event, visitor can get ...
Read more »
Photo for illustrative purposes only – 123RF KUALA LUMPUR – Hyperinflation has never happened in Malaysia and the government hopes it will never happen, according to the Economy Ministry. It ...
Read more »