After a lengthy legal battle, Coldplay has settled their dispute with former manager Dave Holmes, agreeing to pay a seven-figure sum. The band, known for headlining Glastonbury, parted ways with Holmes two years ago after a professional relationship that spanned over two decades.
Holmes initially sued the band for £10 million, claiming unpaid commissions for Coldplay’s yet-to-be-released tenth and eleventh albums. In response, Coldplay, led by frontman Chris Martin, countersued for £14 million, alleging that Holmes had lost control over the budgeting for their “Music of the Spheres” tour, resulting in an overspend of £17.5 million.
Documents filed at London’s High Court reveal that Coldplay agreed to an undisclosed seven-figure settlement to prevent private details from becoming public. A source close to the band told The Sun, “Chris and the band are happy they’ve drawn a line in the sand, but it has come at a price. The settlement cost them millions. They just want to move on.”
Holmes accused the band of fabricating stories about mistakes and ethical lapses on his part. He told Mail Online that he believed the band knew they were in trouble after they countersued him for £14 million. A spokesman for Holmes stated in October, “Coldplay knows they’re in trouble with their defense. 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 honor it, and they need to pay Dave what they owe him.”
Coldplay’s lawyers argued that if Holmes had exercised reasonable care and skill in his duties, the band would not have incurred costs of at least £17.5 million. Examples cited included the purchase of 16 bespoke stage pylons for lighting and video, costing around £10 million, which became too expensive to use. The band also claimed that Holmes used his position to secure £24 million in loans at preferential rates from concert giant Live Nation.
Holmes managed Coldplay for more than 22 years before the group dismissed him in 2022, despite having agreed to extend his contract to assist with their tenth and eleventh albums. Coldplay stated that Holmes’ management agreement expired at the end of 2022, at which point they decided not to renew it.
Since Holmes’ departure, Chris Martin’s best friend, Phil Harvey, who helped fund their first recording and was known as the band’s fifth member, has stepped in to lead their management team. MailOnline has contacted representatives for Coldplay for comment.
Last year, the legal battle took a dramatic turn when Holmes accused the band of making up tales of mishaps and ethical lapses. Holmes told Mail Online that he believed the British group, led by Chris Martin, knew they were in trouble after they countersued for £14 million. A spokesman for Holmes reiterated, “Coldplay knows they’re in trouble with their defense. 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 honor it, and they need to pay Dave what they owe him.”
Coldplay believed that its tour suffered spiraling costs due to Holmes. The band’s lawyers alleged that if Holmes had exercised reasonable care and skill in his duties, the band would not have incurred costs of at least £17.5 million. Examples given included 16 bespoke stage pylons for lighting and video costing €10.6 million that became too expensive to use. The documents also accused Holmes of authorizing the purchase of a $9.7 million visual project known as Jet Screen that was too big and only used for ten gigs in Buenos Aires on the 165-gig world tour.
People familiar with the row on Holmes’ side claimed that any suggestion that Dave was responsible is “totally false and misleading.” Coldplay also said Holmes used his position to secure $30 million in loans at preferential rates from concert behemoth Live Nation. “To the best of [our] knowledge, Mr. Holmes used monies obtained by the loan agreements to fund a property development venture in or around Vancouver, Canada,” said the band in their filing. “It is to 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 claim states.
Live Nation said in a statement to The Times that it “has a strong and longstanding relationship with Coldplay,” adding, “Any past dealings with their management team were considered an extension of this relationship.” Coldplay believed that this arrangement may have led to poor decisions about their “Music of the Spheres” tour, which Holmes negotiated with Live Nation. “That would potentially or actually conflict with his obligations to secure the best possible terms for [Coldplay],” the claim says. Holmes had a “personal interest in maintaining the best possible relations with Live Nation in order to ensure he would have leverage in the event that he required any form of indulgence by reference to the loan terms,” Coldplay claims.
A source close to Holmes said, “Whatever this legal filing may imply, the interest rates on the loan obtained from Live Nation by Dave were entirely consistent with those available everywhere in the United States at the time.”
Holmes managed the band for more than 22 years before the group dismissed him in 2022, despite having agreed to extend his contract to aid with their tenth and eleventh albums, according to the legal filing. He also began preparations for their 2024-25 tours. Holmes alleged that the band—frontman Chris Martin, guitarist Jonny Buckland, bassist Guy Berryman, and drummer Will Champion—claimed to have never agreed to the extended contract and refused to pay him for the work he contributed to the album and tour preparations. Coldplay’s representatives said Holmes’ management contract expired at the end of 2022, “at which point they decided not to start a new one.”
The band clinched the prize for the most memorable moment of Glastonbury 2024 when they performed a surprise duet with Hollywood legend Michael J. Fox during their Saturday night headline slot. Michael played the guitar from his wheelchair, amid his battle with Parkinson’s, for the band’s tracks “Humankind” and “Fix You,” to a thrilled 100,000-strong crowd. It was a full-circle moment for frontman Chris Martin, who revealed how his global chart-topping band wouldn’t exist without the “Back to the Future” star. Chris previously spoke about how seeing Michael playing “Johnny B. Goode” in one iconic scene from 1985’s “Back to the Future” was his inspiration to become a musician and to form his band at University College London in 1996. “That’s what made me want to be in a band, you know? That scene,” he told Kelly Clarkson on her chat show in 2022. Chris poignantly told the Glastonbury crowd on Saturday night, “The main reason why we’re in a band is because of watching ‘Back to the Future.’ So thank you to our hero forever and one of the most amazing people on Earth, Mr. Michael J. Fox. Thank you so much, Michael.”
The British band made their debut at the iconic festival in the New Bands Tent in 1999, before headlining in 2002, 2005, 2011, and 2016.
Source: The Sun, Mail Online, The Times
