Coldplay’s former manager of 22 years suing the band for $12M of unpaid commission

[Teletubby 138,508]

Coldplay’s former manager is suing the band for over £10 million ($12 million) worth of unpaid commission.

Dave Holmes, who managed the Chris Martin-fronted band for over 20 years, had split with the “Viva La Vida” rockers and launched a lawsuit in the U.K. High Court.

Holmes alleges in his filing the band have reneged on a promised contract regarding their tenth and eleventh albums, on which the manager was due to be paid commission.

According to the suit, Coldplay were paid an advance of £35 million ($44 million) for their as yet unreleased tenth album and £30 million ($38 million) for their eleventh and twelfth albums, on which Holmes says he should have received a commission. He was paid between 8% and 13% commission under his previous contract.

As well as managing logistics for the preparation and recording of the albums, ranging from preparing budgets and arranging recording sessions, licensing samples. He also worked on the band’s tours, including their U.S., Australia and Asia tours.

He claims that as well as reneging on a contract extension the band tried to demote him from manager to head of touring.

He is asking the U.K. court to make a declaration that the contract covering the 10th and 11th albums is valid and to order payment of outstanding commission. 

Holmes’ filings also reveal that, in legal letters preceding his lawsuit, Coldplay have threatened to file a “significant counterclaim” along with any defense.
source

[Head Empty 24,372]

People like to give Bobby sh** from time to time but at the very least I can't imagine him and Gaga ever getting into drama like this. Which is rare for a manager 

[Lucas 24,673]

The most shocking part to me is them being paid 38 to 44 millions for future albums? Does it include their payment for a tour? That means the label expects even more profit than that, I don't see how an album can gross so much in the era of streaming.

[Gagaism 10,109]

All I see is the word millions all around 

 

I- 

[Mother of Puppies 35,722]

All I'm thinking is: When is their new album gonna come out?

[Bling 31,242]

1 hour ago, Gagaism said:

All I see is the word millions all around 

 

I- 

Ikr? All I read is "rich people problems"