Ric Flair is taking a talent agency to court over what he claims was a deal that effectively handed over the rights to his identity while leaving him without the money he was promised. The WWE Hall of Famer is seeking at least $10 million from FAM Networks, alleging the company duped him into an agreement involving his name, image, likeness and social media accounts.
According to a lawsuit obtained by The Independent, Flair claims FAM approached him when he needed help managing his digital presence and promised to turn that presence into a significant source of income. Instead, the lawsuit alleges Flair was given just 14 minutes to review an agreement he wasn’t equipped to understand before FAM walked away with a perpetual license to his identity.
“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 money Flair says he was promised wasn’t small either. FAM allegedly agreed to give him 50 percent of revenue from collaborative projects and 10 percent from passive content, while restoring his hacked and demonetized Facebook page.
According to Flair’s complaint, he was told that Facebook page could eventually generate six figures every month.
“FAM pledged 50 percent to Flair for ‘collaborative projects,’ and 10 percent for ‘passive content.’ FAM would also restore Flair’s ‘hacked, demonetized’ Facebook page, which it claimed would throw off six figures on a monthly basis.”
Flair claims those promises never turned into the business he was expecting. His lawsuit alleges FAM failed to secure speaking engagements, appearances or personal projects for him and instead largely made money by reposting content that already existed.
“These were not aspirations. They were contractual obligations. FAM delivered none of them. 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.”
Things allegedly went considerably further than a disappointing business arrangement. Flair claims FAM quietly took control of his social media accounts and recategorized them in ways that made recovering control extremely difficult.
The lawsuit also alleges FAM was making as much as $20,000 per month from Flair’s Facebook page while paying him nothing. Flair estimates he has already missed out on at least $250,000 in revenue.
Now he wants more than a check.
Flair is asking the court to rescind his agreement with FAM and return control of his Facebook page. He also wants a declaration that the agency has no rights to his name, image or likeness, along with a complete accounting showing how much money has been generated using his identity.
The damages being sought are substantial as well. Flair is demanding at least $5 million for alleged breach of contract and another $5 million in compensatory and punitive damages for alleged fraudulent inducement. He is also seeking additional damages over alleged violations of New York Civil Rights Law and tortious interference, along with disgorgement of money he claims FAM was unjustly enriched by, attorneys’ fees and court costs.
For Flair, the lawsuit is ultimately about getting control of the Nature Boy back into his own hands. He claims he went looking for someone to help make money from the digital legacy he spent decades building, only to end up fighting in court over who actually controls it.
Do you think Ric Flair will be able to regain control of his social media accounts and the rights he claims FAM took from him? Let us know in the comments.
