Miami rapper Flo Rida was awarded over US$82.6 million following a successful lawsuit against Celsius energy drinks for breach of contract in his endorsement deal with the brand.
According to reports, Flo Rida, whose real name is Tramar Dillard, was awarded US$82,640,450 in damages.
It is further reported that the rapper’s legal team stated in closing arguments that he wanted the 1% ownership of the company he was previously promised and wasn’t necessarily a dollar amount.
It’s understood that more than US$27 million of the damages represent 250,000 shares in Celsius which the rapper said he was owed by the company.
These are claims the jury agreed with as they sided with his suit that Celsius breached its 2014 agreement with Flo Rida, and fraudulently concealed information relating to the breach.
Flo Rida had originally signed an endorsement deal with Celsius in 2014, before renewing it in 2016.
However, in 2021, right-round hitmaker, the rapper sued the brand, claiming that he was not given stock options and other bonuses he was entitled to as part of the deal.
The suit claims that the bonuses were tied into certain sales targets by the company as part of his contract.
His team was successful in arguing those specific terms were vague in nature, which 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,” lawyer John Uustal shared with the press.
“—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,” he added.
It’s further understood that Flo Rida was also not privy to Celsius’ financials, nor was he alerted when the company surpassed set goals.
Lawyers for Celsius had argued in documents that the statute of limitations for the complaint had expired when the deal ended in 2018.