Coldplay files $17-million lawsuit against former manager
The British rock band is fighting back after Dave Holmes sued them for unpaid commission.
Coldplay has filed a $17-million (R319-million) lawsuit against their former manager Dave Holmes.
The band is countersuing him after he took them to court in August for "unpaid commission".
According to Variety, Dave is demanding $12-million (R226-million) in commission for two albums, which have not yet been released.
He started working with the 'Fix You' hitmakers in 2000 and reportedly became their main manager in 2005. They parted ways in 2022.
Coldplay's countersuit is related to their 'Music of the Spheres' tour, which allegedly suffered out-of-control costs.
The band is also accusing their former manager of using their relationship to secure multi-million dollar loans from Live Nation, according to The Guardian.
"To the best of [our] knowledge … Mr Holmes used monies obtained by the loan agreements to fund a property development venture in or around Vancouver, Canada. It is to be inferred, that Mr Holmes was only able to acquire loans totalling $30m at a fixed annual interest rate of 2.72% from Live Nation by virtue of his position as Coldplay’s manager,” Coldplay reportedly claims in legal documents.
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Coldplay's 10th studio album, 'Moon Music', is due for release sometime in 2024. It is the follow-up to their 2021 album, 'Music Of The Spheres'.
"We’re finishing an album called 'Moon Music' which is the second 'Music Of The Spheres' volume, but that won’t come out for a little bit," Chris Martin told City News earlier this year.
Coldplay, which consists of members Chris Martin, Guy Berryman, Will Champion, and Jonny Buckland, is currently travelling the world as part of their sold out 'Music of the Spheres World Tour'.
Selena Gomez and H.E.R. joined the band at one of their recent shows in Los Angeles.
Coldplay has shows booked until September 2024.
ALSO READ: VIDEO: Selena Gomez joins Coldplay at LA show for 'Let Somebody Go'
Main image credit: YouTube/Coldplay ('Fix You' Live at River Plate, Extended Trailer)
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