Amidst a series of legal battles, British rock band Coldplay has launched a lawsuit against their ex-manager Dave Holmes, weeks after he initiated his own lawsuit against them. The band is seeking £14m in damages, alleging that Holmes had a conflict of interest during the negotiation process for their 2021 tour, Music Of The Spheres.
The band’s legal action comes on the heels of Holmes’ £10m lawsuit, filed in August against the members – Chris Martin, Jonny Buckland, Guy Berryman and Will Champion. Holmes argues that he is owed money for arranging recording sessions and samples for the band’s forthcoming 10th and 11th albums prior to his dismissal last year. In contrast, the band alleges that Holmes allowed tour expenses to skyrocket.
Court documents reveal accusations that Holmes secured $30m (£24.6m) in loans from concert promoters Live Nation. Coldplay claims these funds were used by Holmes to finance a property development project in Vancouver, Canada. The band voiced these allegations in their court filing at London’s High Court.
When negotiations for the 2021 Music Of The Spheres tour commenced, the band alleges that Holmes still owed them $27.5m. They argue this outstanding debt could have represented a conflict of interest potentially interfering with his responsibility to secure favourable terms for Coldplay.
According to the claim, Holmes had a vested interest in maintaining amicable relations with Live Nation to gain leverage concerning loan terms. While Live Nation maintains they have “a strong and longstanding relationship with Coldplay”, they view any past dealings with their management team as part of this ongoing relationship.
Furthermore, the British rock band alleges that costs soared rapidly ahead of their tour due to unsuitable and costly equipment.
In response to Coldplay’s counterclaim, a spokesperson for Mr Holmes stated that accusations of non-existent ethical lapses and other concocted misconduct will not distract from the real issue – Coldplay’s alleged refusal to honour their contract with Holmes and to pay him what is due. In response, Coldplay denies Holmes’ claim “in its entirety”, and asserts that his management agreement was not extended due to increasing concerns about his conduct.