Bethenny Frankel‘s Skinnygirl cocktail brand sure is lucrative.
It’s a shame then, if this is true, that people would be left out of that lucrative sum when they had a hand in brokering the deal.
Bethenny’s ex-managers, particularly Doug Wald, claim they are just that, part of the brokering that took place, and then were cut out of the rich deal afterwards!
According to the complaint, filed in L.A. Superior Court:
Frankel signed with APA on August 7, 2008 and also agreed orally that day to retain Wald as her personal manager and pay Raw 10 percent of her earnings (she allegedly confirmed the relationship in an email sent the next day). Wald says Frankel specifically sought out his advice because she thought the Skinnygirl cocktail was underexploited and he could help her make some money from it.
“She expressly represented that any agreement relating to the exploitation of the Skinnygirl Cocktail Brand would be commissionable under their management agreement,” the complaint says.
So Wald says that he hooked her up with David Kanbar, who had a plan to use her celebrity for the brand and then sell in two years. That sounded great, but the only issues was that Bethenny straight up just fired Frankel two days before she signed the deal.
The company was sold, then, for a reported $120 million dollars.
So, the company and Wald want their 10%, and an extra $100 million in punitive damages!
That’s quite the hefty sum, Bethenny! We hope it isn’t true for your bank’s sake!
[Image via WENN.]
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