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David Beckham and F45 settle out of court – Beckham remains a shareholder
POSTED 12 Jun 2024 . BY Kath Hudson
Becks remains an investor in F45 Credit: F45 Training
David Beckham settles dispute with F45 Training out of court
The footballing legend was suing the company for unpaid compensation over his ambassadorial role
Beckham invested in F45 in 2021, as a result of his friendship with Mark Wahlberg
The lawsuit is being dismissed and Beckham remains an investor
David Beckham and F45 Training have finally settled the breach-of-contract lawsuit around Beckham’s ambassadorial agreement with the boutique fitness franchisor.

Beckham became an ambassador for F45 in 2021, as a result of his friendship with Hollywood actor, Mark Wahlberg, an existing investor.

According to court documents, obtained by People, when the lawsuit was filed in October 2022 Beckham was suing F45 for US$18.8 million, claiming that the company had benefited from the relationship with him and he had not received owed compensation.

A court date was set for next January, but the two parties have agreed out of court that the lawsuit will be dismissed and DB Ventures Ltd will remain an investor in F45.

Speaking for DB Ventures, Dan Dienst, executive vice chair of Authentic Brands Group, said: “We are pleased to have settled this issue and to retain our investment in F45 and wish the team all the best for the future.”

Tom Dowd, CEO of F45 Training, said: “For a long time, F45 has been – and continues to be – a supporter of Beckham, as he has been for our brand, and are pleased to have reached a mutual business decision to resolve the matter.”

Dowd took over as CEO last year, describing the company as a ”slow motion train wreck”, with huge retrospective losses and a delisting. “The days of shooting from the hip are over,” he said. “It’s now a much more professional company, run by real adults.”

Dowd appears to have steadied the ship, with year-on-year same store sales for F45 up by 9.4 per cent; 14.9 per cent for FS8 Pilates and 41.7 percent for Vaura Pilates.

“We are excited about our future and the continued growth of our world-class fitness brands that generated robust total system-wide sales for April of US$48.9 million,” said Dowd.
 


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Latest news

12 Jun 2024

David Beckham and F45 settle out of court – Beckham remains a shareholder
BY Kath Hudson

Becks remains an investor in F45

Becks remains an investor in F45
photo: F45 Training

David Beckham and F45 Training have finally settled the breach-of-contract lawsuit around Beckham’s ambassadorial agreement with the boutique fitness franchisor.

Beckham became an ambassador for F45 in 2021, as a result of his friendship with Hollywood actor, Mark Wahlberg, an existing investor.

According to court documents, obtained by People, when the lawsuit was filed in October 2022 Beckham was suing F45 for US$18.8 million, claiming that the company had benefited from the relationship with him and he had not received owed compensation.

A court date was set for next January, but the two parties have agreed out of court that the lawsuit will be dismissed and DB Ventures Ltd will remain an investor in F45.

Speaking for DB Ventures, Dan Dienst, executive vice chair of Authentic Brands Group, said: “We are pleased to have settled this issue and to retain our investment in F45 and wish the team all the best for the future.”

Tom Dowd, CEO of F45 Training, said: “For a long time, F45 has been – and continues to be – a supporter of Beckham, as he has been for our brand, and are pleased to have reached a mutual business decision to resolve the matter.”

Dowd took over as CEO last year, describing the company as a ”slow motion train wreck”, with huge retrospective losses and a delisting. “The days of shooting from the hip are over,” he said. “It’s now a much more professional company, run by real adults.”

Dowd appears to have steadied the ship, with year-on-year same store sales for F45 up by 9.4 per cent; 14.9 per cent for FS8 Pilates and 41.7 percent for Vaura Pilates.

“We are excited about our future and the continued growth of our world-class fitness brands that generated robust total system-wide sales for April of US$48.9 million,” said Dowd.



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