The British rock band Coldplay reportedly reached a settlement deal in the lawsuit brought by its former manager Dave Holmes, bringing an end to an ongoing legal battle that began in 2022.
Holmes sued the band for £10 million (roughly $12 million US), alleging that he was owed a significant amount of money in unpaid commissions and fees.
The band filed a countersuit for £14 million (roughly $17 million US), alleging that Holmes mismanaged their 2022 Music of the Spheres tour. Coldplay claimed in the countersuit that the screens used in the tour were too large and the pylons unusable. The band also alleged that Holmes borrowed $20 million from promoter Live Nation to invest in a property development in Canada.
While the final settlement amount remains confidential, one UK outlet said that the band agreed to pay Holmes seven figures.
Both parties were reportedly hoping to resolve the issue out of court. Before reaching the settlement, both Holmes and Coldplay kept negotiations a secret, with the parties refusing to publicly comment on the case.
The legal battle began after Holmes, who managed Coldplay for more than 20 years, left in 2021 over financial disputes with the band.
Holmes alleged that his contract with Coldplay entitled him to a share of the band’s earnings and accused the band of breaching the conditions of the contract.
Representatives for Coldplay dismissed the allegations as unfounded and insisted that Holmes was properly compensated for his services as manager.
The years-long legal battle has not stopped Coldplay from continuing to record and perform. They recently extended the Music of the Spheres World Tour to include dates in New Zealand and Australia later this year.
Their upcoming album Moon Music is expected to be released in early October.
Since their 2000 debut album “Parachutes” was released, all of Coldplay’s nine albums topped Number One on the official British album charts.
