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Coldplay reach settlement with former manager

The band have reportedly agreed to pay a seven-figure sum to Dave Holmes after he sued them following his 2022 dismissal

By James Hanley on 05 Jul 2024

Coldplay


image © Anna Lee

Coldplay have reportedly reached a seven-figure settlement with former manager Dave Holmes.

Holmes, who worked with the group for more than 20 years prior to being dismissed in 2022, sued the Chris Martin-fronted band for breach of contract last year, seeking more than £10 million (€11.7m) in allegedly unpaid commission.

The group said they “vigorously disputed” the allegations and counter-sued for £14m, accusing Holmes of failing to “adequately to supervise and control” the budget for their ongoing Music of The Spheres World Tour.

They also alleged that Holmes leveraged his position as manager to secure $30 million in loans from Live Nation, which they claim could have created a conflict of interest in tour negotiations.

A spokesperson for Holmes hit back at the claims, telling MailOnline: “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 honour it and they need to pay Dave what they owe him.”

“Chris and the band are happy they’ve drawn a line in the sand but it has come at a price”

According to documents filed at London’s High Court in May, obtained by The Sun, Coldplay have now agreed an undisclosed seven-figure settlement to stop private details being made public in court.

“Chris and the band are happy they’ve drawn a line in the sand but it has come at a price,” says a source, as per the Daily Mail. “The settlement cost them millions. They just want to move on.”

Coldplay are currently managed by the team of Phil Harvey, Mandi Frost and Arlene Moon. Last Saturday (29 June), the quartet headlined the Pyramid Stage at Glastonbury for a record fifth time.

The Music of the Spheres Tour, which kicked off in 2022, could see Coldplay become the first band to gross $1 billion from a single tour. At last count it had earned $810.9m, having been attended by 7.66 million fans.

 


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