Coldplay has settled its lawsuit with former manager Dave Holmes, court documents show.
A judge approved a settlement agreement between the parties in May, with the terms remaining confidential. Both parties have agreed to bear their own costs.
As PvNew exclusively reported last year, Holmes – the band’s manager of 22 years – filed suit against frontman Chris Martin, guitarist Jonny Buckland, bassist Guy Berryman and drummer Will Champion over a contractual dispute.
It later emerged Holmes was suing the band for £10 million ($12 million) in relation to unpaid commission. Coldplay countersued for £14 million ($17 million), claiming that Holmes had mismanaged the production of their Music of the Spheres tour, including screens that were too big and pylons that were unusable.
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The countersuit also claimed that Holmes had borrowed $20 million from tour promoter Live Nation to fund a Canadian property development.
Although the settlement is not being made public, according to The Sun, Coldplay has agreed to pay Holmes a seven-figure sum.
The band has apparently already put the legal battle behind it, taking to the Glastonbury stage last week where the group was joined on stage by legendary “Back to the Future” actor Michael J. Fox on guitar.
“The main reason we’re in a band is because of ‘Back to the Future,’” Coldplay frontman Chris Martin said after the performance. “So thank you to Michael, our hero.”
