Coldplay ordered to pay ex-manager millions in damages

Let’s revisit the issue. David Holmes, who was a major part of managing Coldplay for 22 years, was either (a) fired or (b) didn’t have his contract renewed. This pissed him off so he filed a £10 million lawsuit against the group. Coldplay was pissed by this, so they countersued to the tune of £14 million. They claimed damages of that amount.

The result? David Holmes 1, Coldplay nil.

The court came down firmly on the side of the ex-manager and the band settled for an undisclosed seven-figure sum privately. The last thing the band wants is for the real details to come out.

Insiders hinted that Coldplay really didn’t have a leg to stand on and that their defense was weak. The group had complained that Holmes let tour costs get out of control. Holmes pointed the finger back at the band saying that they overspent. There was also something about Holmes securing at US$30 million loan from Live Nation to invest in a some kind of Vancouver real estate situation.

That’s about all we know, but there’s a little more here. You can bet the British tabloids are going to dig into this one.