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"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," said Dan Dienst, Executive Vice Chairman of Authentic Brands Group, which has a controlling stake in Beckham's management business that handles his endorsements. In the 84-page lawsuit filed in Los Angeles Superior Court, DB Ventures Limited claimed Beckham signed on as an ambassador in 2020 to help grow the brand and enhance the company's public profile and credibility by marketing and promoting the fitness company -- from posting photos while at the gym to his more than 70 million followers to public and private appearances at the studios.
But despite Beckham holding his end of the bargain, the lawsuit states"F45 failed to issue substantial cash and equity compensation to Plaintiffs as required by the parties' agreements.
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