Yahoo Finance John Cena and Ford Settle GT Lawsuit Over Flip Flap
According to a statement from attorneys for professional wrestler John Cena that was sent to the Jalopnik website, Cena and the Ford Motor Company have settled their legal feud regarding Cena’s purchase and resale of a Ford GT. Cena will pay Ford an unspecified amount of money, which Ford reportedly will donate to an as yet unnamed charity.
In 2017, Cena took delivery of an all-new 2017 Ford GT supercar. He then sold the car just a few months later, and in doing so violated the sales agreement, which stated that the Ford GT’s hand-picked customers, who were chosen through an application process, were not allowed to sell the car for at least two years. The contract was meant to discourage exactly this type of flipping, but everybody knows pro wrestlers don’t follow rules.
After initially saying it would only produce the car for two years, Ford responded to heavy demand by doubling that life span to four total years of production. At a rate of 250 cars per year, the full run will equal 1000 vehicles. At the time of our instrumented test, the base price of a GT was $478,750.
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Although the amount is unspecified, Cena and Ford agreed on a monetary settlement outside an official court setting. The statement specifies that the money will go to a “worthy charity,” and in it Cena says, “I love the Ford GT and apologize to Ford, and encourage others who own the car to respect the contract.”
See the full statement here.
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