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David Beckham and Greg Norman are suing a gym for more than $20million after it allegedly withheld payments for their sponsorship.

In a lawsuit obtained by The Blast, Beckham and Norman say they entered into promotional agreements with Australia-based F45 Training to help grow the brand.

Beckham signed onto the company at the behest of his friend, actor Mark Wahlberg, who acquired a 36 percent stake in the company in 2019, when it was valued at around $634 million and still serves on the board.

The soccer star has since provided marketing, promotional services like public and private appearances, photos and video shoots, as well as promoting the company on his social media and in printed materials, the lawsuit claims.

As part of the deal the pro athletes would receive annual payments – amounting to $1.5 million for Beckham, while Norman’s annual compensation remains unclear – as well as a percentage of the company’s stock.

They have since appeared in a number of advertisements and held various promotion events for the fitness firm’s expansion to the United States, with lawyers for the athletes saying the company has ‘substantially benefitted’ from their agreement.

The lawsuit claims Beckham and Norman’s promotion of the fitness firm ‘enhanced its public profile and credibility, and helped roll out new fitness offerings for F45,’ and because of their efforts the company went public in 2021, valued nearly three times higher than it had been two years earlier.

But, the professional athletes claim in the lawsuit, F45 failed to pay them ‘substantial cash and equity compensation’ as it lost value in the stock market. 

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Shares of the fitness giant were trading at just $3.07, down more than 76 percent over the course of the year. 

Soccer star David Beckham is suing F45 Training for more than $20 million, claiming it withheld payments for their sponsorship

Pro golfer Greg Norman has also signed onto the suit

Soccer star David Beckham and pro-golfer Greg Norman are suing F45 Training for more than $20 million, claiming it withheld payments for their sponsorship

Mark Wahlberg acquired a 36 percent stake in the company in 2019, when it was valued at around $634 million.

Mark Wahlberg acquired a 36 percent stake in the company in 2019, when it was valued at around $634 million.

Shares of the fitness company were trading at just $3.07 on Wednesday

Shares of the fitness company were trading at just $3.07 on Wednesday

By 2021, F45 officially announced that Beckham is a global partner, releasing images of him training at one of its facilities, with cofounder Adam Gilchrist reportedly describing the company’s affiliation with Beckham as a ‘monumental partnership.’

He was then due $5 million on July 14 of this year, as the company celebrated the first anniversary of its debut on the New York Stock Exchange, the Sydney Morning Herald reports.

But as the company’s share prices began to fall in 2022 due to what the suit describes as ‘fiscal mismanagement and macroeconomic pressures,’ F45 allegedly begun withhold millions of dollars from him.

At the same time, Beckham supposedly lost nearly $10million as the stock prices plummeted from around $11.33million when he vested on January 15, 2022 t just around $1.97million by September 23 ‘a mere fraction of the value [Beckham’s company] would have received had F45 timely complied with its contractual obligations.’

The lawsuit also alleges, according to The Blast, that the company gave ‘preferential treatment’ to other investors, including ‘insiders and directors’ allowing them to profit more off their ownership.

It says the company gave ‘substantially more stock to various entities affiliated with Fortress Investment Group during this same period of time, and had accelerated the vesting of other shares issued to Wahlberg, another celebrity, who is also a board member, director and insider.’ 

DailyMail.com has reached out to F45 Training for comment.

Former NFL receiver previously filed a suit against the fitness company, claiming it owed him more than $700,000 in unpaid wages

Former NFL receiver previously filed a suit against the fitness company, claiming it owed him more than $700,000 in unpaid wages

Former NFL receiver Terrell Owens previously filed a similar lawsuit against the fitness company.

He claimed in his 2017 lawsuit that F45 failed to pay him more than $700,000 in unpaid wages, according to Bleacher Report. 

In the suit, Owens claimed he agreed to appear in a promotional video for $15,000, which both sides say was paid.

But Owens said the gym was also supposed to pay him $25,000 for each of the first 25 gums opened in the United States and an additional $5,000 for every opening thereafter.

At the time, there were at least 45 gyms in the United States. 

Owens asked at least $725,000 in damages, but, Bleacher Report notes, the CEO has denied the allegations saying ‘everything that’s been lodged is a total fabrication of the truth.’

He said the company planned to countersue Owens over the claims, saying: ‘We’re not a company that doesn’t pay our bills.’

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But a judge ultimately ruled in Owens’ favor. 

The company went public on July 15, 2021. Darren Richman, Greg Norman, Michael Raymond, Chris Payne, Mark Wahlberg, and F45 Founder and CEO Adam Gilchrist are seen here ringing the bell on the New York Stock Exchange that day

The company went public on July 15, 2021. Darren Richman, Greg Norman, Michael Raymond, Chris Payne, Mark Wahlberg, and F45 Founder and CEO Adam Gilchrist are seen here ringing the bell on the New York Stock Exchange that day

But the company has previously announced that it plans to slash staff, and downgrade its earnings and revenue forecasts for this year after promising a slew of celebrities large compensations for their endorsements. 

Former NBA star Magic Johnson, for example, received a cash payment of $4million as well as $5million in shares, while American model Cyndi Crawford received $5million in stocks, the Sydney Morning Herald reports.

In total, the company reported $4.5million in stock-based expenses relating to its deals with celebrities over the summer, as well as future liabilities of $4.5million in stock-based expenses, according to the Herald.

And by the end of June, the company was left with just $8.5million in cash, but debts amounting to $60.6 million. 

CEO Ben Coates then announced in July that the company is no longer planning.to expand, as it shifts it focus to preserving its cash and profits. 

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