Former English football player, David Beckham, has filed a lawsuit against Hollywood actor, Mark Wahlberg, over a failed business arrangement involving their joint venture in a fitness company.
David Beckham claimed that he lost $10 million due to the stocks he was owed as part of his agreement, which was distributed when the company’s stock dropped dramatically.
Beckham and F45 began working together after Wahlberg introduced him to the company in 2021. Wahlberg, who joined F45 as a financial supporter early on was appointed chief brand officer in 2023. He acquired a 36% share of the business through his investment group earlier in 2019, turning him into a minority shareholder.
As a brand ambassador, Beckham signed a five-year deal with F45 according to which he would receive $1.5 million annually in addition to shares of the fitness company, which he would receive six months and a year after the company went public in 2021. However, F45 could not hold their end of the bargain.
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“Despite DBVL upholding its end of the bargain, however, F45 failed to issue substantial cash and equity compensation to DBVL as required by the parties’ agreement,” a document filed by DB Ventures Limited read.
Beckham is suing F45 founders Adam Gilchrist and Rob Deutsch, as well as Wahlberg. However, Wahlberg and his co-defendants requested that the lawsuit be dismissed, citing fraudulent conduct, but a judge denied their request.
Established by Adam Gilchrist and Rob Deutsche in 2013, F45 Training is an Austin, Texas-based fitness center that provides services like training, high-intensity interval workouts and nutrition plans. It has over 2,000 studios across 60 countries, including Australia/Oceania, North America, South America, Asia, Europe, and Africa. It was named the fastest-growing fitness franchise in the United States in 2021 and one of the fastest globally.