Rapper Flo Rida is going after energy drink company Celsius for a deal gone sour.
The “My House” rapper initially filed the lawsuit in 2021. According to suit documents, Flo Rida inked a deal with the Boca Raton-based company in 2014 that agreed to pay the rapper bonuses or stock options for promotion when certain benchmarks were achieved.
Flo Rida notably featured the “Celsius Heat” drink in his “Hola” music video. A group of young people can all be seen sipping it in the visual. Doja Cat previously promoted Flo Rida’s Celsius deal as well.
Since being traded for $1 per share in 2014, Celsius’ share price jumped to $100. Their products, which include powder sticks and several different types of energy drinks, can now be found in Vitamin Shoppes, GNCs, and 7-Elevens nationwide. In 2021, it was estimated that Celsius brought in $130 million in sales revenue. Under the partnership, Flo Rida would be entitled to at least 250,000 shares of stock. The rapper’s attorney John Uustal said there’s around $75 million at stake.
https://www.instagram.com/p/Cj_xmNlMVs-/
His lawsuit also maintains that he helped the company expand to international heights as an ambassador, “opening new doors for Celsius and its products.”
For breach of contract, accounting, and unjust enrichment, Flo Rida is requesting a minimum of $30,000 in damages. The trial began on January 10th, with both parties presenting their arguments.
Discover more from Baller Alert
Subscribe to get the latest posts sent to your email.
