The band Coldplay will pay a seven-figure sum to its former manager, who had sued them for 10 million pounds (around 11.8 million euros at the current exchange rate), according to several British media reports. The case dates back to August 2023, when Dave Holmes, who was manager of the musical group Coldplay for more than 22 years, sued the band after his dismissal a year earlier.
In Holmes’ original lawsuit against Coldplay, the former manager Holmes demanded payment of his commission, which amounted to 10 million pounds. “Holmes successfully managed Coldplay for more than 22 years, leading them to become one of the most successful bands in history. Now Coldplay refuses to pay him what he is owed,” Holmes’ lawyer Phil Sherrell told the magazine. Variety. According to the lawsuit, Coldplay received a £35m advance for their 10th album and £30m for their 11th, but Holmes had not yet received any of that money.
The band led by Chris Martin counterattacked, claiming that it was Holmes who owed them damages of more than 14 million pounds (about 16.4 million euros) for having obtained two juicy loans from Live Nation, one of the world’s largest companies for the promotion of tours and management of ticket sales, and which has worked for years with Coldplay. The band claimed that their former manager The band also said that Mr. Holmes took advantage of his position to secure the deal, which he used for his personal benefit. “To the best of our knowledge, Mr. Holmes used the money obtained from the loan agreements to fund a property development company in or around Vancouver, Canada,” the band explained in its appeal to the High Court in London. “It can be inferred that Mr. Holmes was only able to acquire loans totaling $30 million at a fixed annual interest rate of 2.72% from Live Nation by virtue of his position as a lender.” manager Coldplay,” the band explained in the statement.
On the other hand, the British band also blamed Holmes for the high costs of the tour. Music of the Spheres, of more than 165 concerts and their multimillion-dollar mishaps. Coldplay claimed that, just before the concert began, tourcosts “rapidly escalated” and unsuitable equipment was commissioned. A “visual project known as the Jet Screen”, for example, was commissioned for $9.7m, with a large part of that expenditure, according to the band, personally authorised by Holmes. The problem was that the dimensions given to the manufacturers were incorrect and it was too large, so it was only used for 10 concerts in Buenos Aires. Coldplay therefore accused Holmes of “failing to properly supervise and control the tour budget at all times” and added that “had Mr Holmes exercised reasonable care and skill in the performance of his obligations”, the band would not have incurred costs of at least £17.5m.
Asked about the countersuit, a spokesperson for Holmes said: “Coldplay knows they are in trouble with their defense. Accusing Dave Holmes of non-existent ethical breaches and other fabricated misconduct will not divert attention from the real issue at hand: Coldplay had a contract with Dave, they are refusing to honor it and they must pay him what they owe him.”
Now, the documentation filed in the High Court in London, and obtained by means such as The Sunconfirms that in May of this year the band reached an undisclosed seven-figure settlement to prevent private details from being made public in court.
For its part, the band continues to fill stadiums with its tour Music of the Spheres, and sources close to the musical group have stated that they want to turn the page. It is not surprising, considering the friendly image that the group boasts and that is not only transmitted through their songs with a good vibesbut through constant commitment to good causes. Chris Martin usually donates 10% of his fortune ―valued at 160 million, according to Celebrity Net Worth―to charities, and is also known for lending a face to various campaigns of the same kind. The band often makes headlines for their good works: just a few days ago, Chris Martin went to a hospital in Manila (Philippines) to personally meet a cancer-stricken fan who couldn’t make it to their concert in town, the band gave away tickets to migrant workers through the Love Button charity in Singapore, and recently donated a guitar to a hedgehog rescue charity. All this in the last month alone.
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