Megadeth’s Dave Mustaine has agreed to pay his former manager $1.4 million to end the litigation over accusations the band still owed commissions after the manager was “unceremoniously” fired, as per Billboard.
In his lawsuit which was filed in June last year, Cory Brennan and his company, Five B Artist Management, claimed that they were approached by Dave Mustaine in late 2014 to manage Mustaine’s career “and help get it back on track. Brennan and Mustaine had a prior friendship from when Brennan served as the General Manager of Sanctuary Records, which had successfully released three albums for Mustaine and Megadeth.
Over a few phone calls and an in-person meeting, Mustaine and Brennan agreed that Brennan and 5B would manage Mustaine’s career in exchange for a 15 percent commission on all gross proceeds earned by Mustaine and his entities from products released during Plaintiffs’ management term (songs, albums, merchandise, etc.), and all contracts executed or substantially negotiated during the management term, regardless of when those proceeds were received,” the lawsuit stated.
“Mustaine also agreed to reimburse Brennan and 5B for all customary costs they incurred to render their management services, including travel and other management-related expenses.
“Under the Agreement, Plaintiffs began managing Mustaine’s career in early 2015,” the lawsuit continued.
“Plaintiffs successfully managed Mustaine’s career for the next nine years, and helped re-establish his band, Megadeth, as one of the greatest metal bands of all time. Plaintiffs worked tirelessly as Mustaine’s manager during that time, helping him with his personal struggles, looking out for his health and well-being at home and on the road, protecting him from bad influences, managing his personal and professional conflicts, and guiding him creatively to produce some of his best music. Plaintiffs were available to Mustaine 24 hours a day, seven days a week.
During Plaintiffs’ management, the band won its first Grammy, released two of its highest charting records, and saw its demand rise from playing small clubs to arenas and amphitheaters all over the world. Plaintiffs’ role in this success cannot be disputed. As recently as December 2022, after Brennan helped advise Mustaine and his booking agents in building a lucrative summer and fall tour schedule, Mustaine wrote to Brennan: ‘Excellent work Cory! No one can manage as successfully and professionally as you.’
“Despite this success and their long-term relationship, on April 28, 2023, Mustaine, through his lawyer, unexpectedly and unceremoniously terminated Plaintiffs, stating no reason for the termination,” the lawsuit added. “On information and belief, the decision was made to help send business to Mustaine’s son, who has been trying to build a career in artist management. The letter also wrongly asserted that, from its date forward, Plaintiffs would have no right to collect any commissions in connection with the products released and contracts entered into or substantially negotiated before the termination.”
