David Beckham is suing a fitness company for more than US$20 million ($34.7m).
The retired footballer and former golfer Greg Norman have taken legal action against F45 after a promotional agreement allegedly failed to pay out “substantial cash and equity compensation”.
According to documents obtained by The Blast, the ex-sportsmen signed on with the fitness franchise for a deal that should have generated millions of dollars in yearly payments in exchange for the rights to use their images and brands, but things went wrong when F45 allegedly “began to falter” earlier this year due to “fiscal mismanagement and macroeconomic pressures.”
The pair claim millions of dollars were withheld from them by the fitness franchise, despite the company’s contractual obligations, and Beckham argued the deal with him “enhanced its public profile and credibility and helped roll out new fitness offerings for F45″.