Flo Rida Celebrates His $82 Million Dollar Win Against Celsius With A Sip Of Celsius
LOL? You read that correctly. Today, Flo Rida was awarded $82 million in his legal battle against the Celsius energy
LOL? You read that correctly. Today, Flo Rida was awarded $82 million in his legal battle against the Celsius energy drink company. A Florida jury took sides with the “Right Round” singer who claimed that Celsius breached the agreement between them by not fulfilling the end of their deal. According to Flo Rida the company owed him money and stock options over their endorsement deal.
What’s To Know
In 2014, Flo Rida signed an endorsement deal with Celsius which he then renewed in 2016. According to Celsius, however, their deal ended in 2018. That in fact was not true. Their deal was very much still a thing and it wasn’t until the year of the pandemic that the rapper had an opportunity to check how the company was doing.
The “Low” singer told CNBC “I got a chance to really sit back and check out all my business. And this one in particular, I checked it out.” Continuing, “They were telling me that, you know, one of the products that I was endorsing, I wasn’t selling. And then I got a chance to really look at it now, and I was doing more than well.”
The vagueness of the contract was argued by the rapper’s team and which is ultimately what prevented him from cashing in on them. “He’s entitled to 500,000 shares of stock via the contract, and entitled to 250,000 shares of stock if certain things happen—one of those yardsticks is that a certain number of units of products need to be sold, but unfortunately the contract doesn’t specify which type of unit—is it a box, is it a drink? And there’s no timeframe or deadline,” lawyer John Uustal told Insider.
In his complaint filed back in May 2021, Flo Rida’s team claimed that the top managers at the brand had even recognized that the rapper’s involvement with the company “accelerated the introduction of the Celsius brand to millions around the world.” Shares of Celsius Inc. Holdings trade at over $100 now and Flo Rida claims that he is responsible for that success.
The rapper, born Tramal Lacel Dillard, had originally claimed that he was owed 30K for the contract breach but as the name of the brand grew, so did the profits.
When Flo Rida took the stand on the first day of the trial he told the jury that he felt betrayed by family, stating “I did everything as far as doing my part and with all due respect the parties that be, I trusted them and they didn’t do their part.”
A Fizzy Celebration For Flo Rida
Florida sides with Flo Rida.— Morning Brew ☕️ (@MorningBrew) January 18, 2023
Today, a Sunshine State jury awarded the singer and rapper $82M in damages after finding energy drink maker Celsius guilty of violating its endorsement deal.
The artist celebrated the news accordingly: ☕️🐸pic.twitter.com/QZaBYOMXTh
The jury sided with the “My House” singer, deciding that he deserves a share in the company’s success. And by share, we mean … $82 million dollars. Yea. And it only gets better.
Flo Rida celebrated his win with a sip from the fizz of energy itself, Celsius.