The latest word from the wrestling world is that WWE Hall of Famer Ric Flair has filed a $10 million lawsuit against influencer talent agency FAM Networks, alleging that the company deceived him into signing away rights connected to his name, image and likeness.
As reported by court documents obtained by The Independent, Flair claims FAM promised to generate six figures in monthly revenue by managing his digital presence, however alleges that those promised earnings never materialized.
The lawsuit takes particular issue with the circumstances under which Flair entered into the agreement.
“What FAM did was simple: it waited until he needed help managing the digital legacy of everything he had built, presented him with a document he was not equipped to understand, told him he had lawyers when he did not, gave him fourteen minutes to read it, and walked away with a perpetual license to his identity,” the lawsuit states.
Flair alleges that he has already came up short in at least $250,000 in revenue as a result of the agreement.
The filing further accuses FAM of taking control of Flair’s social media accounts and recategorizing them in a manner that allegedly made it difficult for him to regain control. Flair claims the company then continued generating revenue from his persona without providing him with his agreed-upon share.
“FAM pledged 50 percent to Flair for ‘collaborative projects,’ and 10 percent for ‘passive content,’” the lawsuit states.
As noted by the complaint, FAM what's more agreed to restore Flair’s “hacked, demonetized” Facebook page, which the company allegedly represented as having the potential to generate six figures in monthly revenue.
Flair’s lawsuit claims those promises were contractual obligations that FAM failed to fulfill.
“These were not aspirations, and they were contractual obligations. ” the filing states, fAM delivered none of them, and “It sourced not one speaking engagement. Not one in-person appearance. Not one personal project at the ninety percent royalty tier. It reposted existing content.”
The complaint further alleges that FAM generated as much as $20,000 per month from Flair’s Facebook page while paying him nothing.
Flair is asking the court to rescind his agreement with FAM and require the company to resurgence control of his Facebook page. He is on top of that seeking a declaration that FAM holds no rights to his name — image or likeness, along with a “complete accounting of revenues generated in his name.”
The 16-time world gold holder is seeking at least $5 million in compensatory damages over the alleged breach of arrangement, along with an additional $5 million in compensatory and punitive damages for alleged fraudulent inducement.
Flair is moreover pursuing claims involving alleged violations of New York Civil Rights Law — tortious interference with prospective economic advantage and unjust enrichment. He is seeking the re-emergence of money through which FAM was allegedly “unjustly enriched at [Fliehr’s] expense,” in addition to attorneys’ fees and court costs.
The allegations have been made in a civil lawsuit and have not been established as fact by the court.