Coldplay Reaches Multi-Million Dollar Settlement in High Court Battle with Former Manager: 'They Just Want to Move On'

Coldplay has resolved the issue with their former manager, Dave Holmes, by agreeing to a substantial financial settlement.

Two years have passed since the award-winning musicians, and Holmes parted ways, ending a professional partnership of over twenty years.

Holmes took legal action against the British band for a substantial sum of $12.7 million concerning allegedly withheld commission related to Coldplay's forthcoming tenth and eleventh albums.

Since his journey with the band in 2001, Holmes has been a constant presence for most of their professional success.

Responding to this lawsuit, frontman Chris Martin and his bandmates initiated a countersuit for a staggering $17.8 million, citing the manager's mismanagement of finances for their upcoming Music of the Spheres tour.

The band, which includes Martin, Jonny Buckland, Guy Berryman, and Will Champion, raised concerns about overspending by $22.3 million, prompting Martin's close friend Phil Harvey to step in as interim manager.

As reported by The Sun, legal records from London's High Court disclose that the "Yellow" singers reached a confidential seven-figure agreement to prevent sensitive information from being disclosed publicly.

According to a source who spoke to the Daily Mail, "[Martin] and the band are happy they've drawn a line in the sand but it has come at a price."

They went on to say, "The settlement cost them millions. They just want to move on."

The "Fix You" hitmakers have alleged that Holmes obtained two loans of approximately $30 million from Live Nation promoters. These claims suggest that the loans may have influenced his capacity to negotiate with the company on behalf of the band.

In addition to other soaring costs, significant funds were squandered on purchasing equipment that was ultimately unsuitable.

Among these expenses was the acquisition of 16 custom-made stage pylons' for lighting and video, amounting to $10.6 million, yet ultimately proved unusable.

A project known as the Jet Screen, funded with $9.6 million, was intended to be a grand visual spectacle.

Upon filing the countersuit in October 2023, Holmes' representative stated, " Coldplay knows they're in trouble with their defense."

"Accusing Dave Holmes of non-existent ethical lapses and other made-up misconduct will not deflect from the real issue at hand: Coldplay had a contract with Dave, they are refusing to honor it and they need to pay Dave what they owe him," the rep added.

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