Coldplay's ex-manager sues for $12 million of unpaid commission
Coldplay: "The claims are being vigorously disputed."
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, which covered the band’s eight and ninth albums, “Everyday Life” and “Music of the Spheres.”
He is asking the U.K. court to make a declaration that the contract covering the tenth and eleventh albums is valid and to order payment of outstanding commission. In the alternative, he is asking for damages or “payment of a reasonable charge” for the work he has done to date on the records. His lawyers have valued his claim at over £10 million ($12 million).
In a statement, Coldplay said:
“Dave Holmes’ management contract with Coldplay expired at the end of 2022, at which point they decided not to start a new one. The matter is now in the hands of Coldplay’s lawyers and the claims are being vigorously disputed.”
As I explained last month, Holmes was Coldplay’s manager for 22 years before the two sides cut ties over this contractural dispute.