Coldplay performing live onstage at the Ullevi Stadium in Gothenburg, Sweden, where they played to an audience of 65,000 fans as part of their A Head Full of Dreams Tour: Chris Martin & Guitarist Johnny Buckland Perform (Image: Getty)
Dave Holmes, the ex-manager of the British rock band Coldplay, has sued the band for £10 million ($12.3 million) he believes he is contractually owed for two unreleased Coldplay albums.
Holmes left as Coldplay’s band manager in August 2022 after working with them for 22 years.
The band is currently being managed by Phil Harvey, Mandi Frost and Arlene Moon, who have worked with Holmes and the band previously.
Holmes filed a claim to the High Court of Justice, alleging that the band had backed out on a promised contract for their tenth and eleventh albums. It was agreed in the contract that the manager would be paid a commission.
Additionally, Holmes declared that the band had attempted to demote him from manager to head of touring.
In response, the band members, Chris Martin, Jonny Buckland, Guy Berryman and Will Champion, filed a counterclaim in the High Court, which declared that Holmes had owed them damages of over £14 million ($17.2 million).
The band claims that Holmes took out two loans from Live Nation, an events promoter and venue operator.
Coldplay stated in their claim that Holmes “used monies obtained by the loan agreements to fund a property development venture in or around Vancouver, Canada.”
The band stated in their claim that it must be “inferred that Mr. Holmes was only able to acquire loans totaling $30 million at a fixed annual interest rate of 2.72 percent from Live Nation by virtue of his position as Coldplay’s manager.”
The suit suggested that the loan might have interfered with Holmes’ duties when he had negotiations with Live Nation over Coldplay’s Music Of The Spheres 2021 world tour.
The band accused Holmes of making mistakes that cost it millions of pounds on the tour.
Coldplay claimed that, prior to the tour, costs grew quickly and some of the equipment was either inadequate or was purchased at a high cost.
The band said in their counterclaim that they never extended Holmes’ management agreement.
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