Coldplay Countersues Former Manager For Millions: 'They Know They're In Trouble' [REPORT]

Coldplay and their former manager Dave Holmes are battling it out on court for millions of dollars over tour commissions, and "expensive, but unusable equipment."

Back in August, Holmes filed a lawsuit against the four-membered band for unpaid tour commission and claimed that he was "betrayed," noting that Coldplay "owed him" £10 million, which is around $12.2 million.

According to recent reports, Coldplay has countered the lawsuit with their own, denying their former manager's claims and seeking £14 million, or around $17 million, over damages.

Furthermore, the band also alleged that Holmes had purchased "expensive, but unusable equipment" ahead of their highly successful "Music of the Spheres" world tour.

Holmes also allegedly used his connection and relationship with Coldplay to secure loans from concert promoters Live Nation, totaling $30 million.

Coldplay in 'Trouble'?

Holmes worked with Coldplay for over 20 years before getting fired in 2022. His lawyer has spoken to The Times and claimed that Coldplay is worried about the lawsuit.

"Coldplay knows they are in trouble with their defense," said a spokesperson for the former manager.

"Accusing Dave 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."

Apparently, the alleged unpaid wages have something to do with several unreleased Coldplay materials, like two albums he had previously worked on with the band.

Coldplay's Damning Claims Against Former Manager

Coldplay, on the other hand, has pretty damning claims about Holmes and his alleged loans.

"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," the court documents read.

"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."

Meanwhile, the "expensive, but unused equipment" include a Jet Screen that cost $9.7 million, which was deemed too big. It was only used in 10 shows, out of the 165 concerts around the world.

The two would come face to face in court should they refuse to settle; for now, though, there is no further information regarding the ongoing legal battle between the two parties.

Tags

Coldplay, Lawsuit