A report shows that soccer star David Beckham has taken legal action against actor Mark Wahlberg and his associates, claiming that a fitness endorsement arrangement between the two parties was unsuccessful.
The conflict centers on F45, a fitness company that Wahlberg had invested in. Beckham was recruited to represent it to promote individualized exercise plans. With Beckham appearing in a commercial ad and on social media, their partnership began in November 2020. However, the collaboration soured due to apparent disagreements about the stock interests that Beckham claimed were offered to him.
Beckham moved to Los Angeles, California, in 2007 to join the LA Galaxy soccer team, where he got involved with Wahlberg.
In November 2020, he subsequently consented to become the worldwide ambassador for the Australian company F45, which featured glossy photos of him exercising at one of the brand’s fitness centers while wearing its trademarked equipment.
Beckham allegedly believed he would earn shares as early as 2022 after endorsing F45, turning their friendship into a commercial relationship.
Beckham reportedly lost a substantial amount of money, about $10.5 million, due to the delayed declaration of these shares. The market value fell from $12 to $3.
Courts got involved when Beckham’s business, David Beckham Ventures Ltd (DBVL), claimed damages against F45 totaling roughly $19 million for commitments that were never delivered. The publication said that the case has now expanded to include direct allegations against the founders of F45, Adam Gilchrist and Rob Deutsch, and Wahlberg’s investment firm.
In response to Beckham’s allegations of fraudulent activity, Wahlberg and his colleagues have denied the allegations and argue that they lack merit.
The initial price of F45 shares in the US market was $16, and they have never recovered.
Stores in the company’s native Australia, Ireland, America, and the United Kingdom have shut down, and the most current market data shows that shares are now only worth 15 cents.
