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The $35 Million Kevin Spacey Gamble

kevin spacey
Kevin Spacey will pay just $1 million to MRC, while assisting the company in its crusade to collect on insurance policies from Lloyds of London and Fireman’s Fund worth up to $150 million, plus punitive damages. Photo: Lucy North/PA Images/Getty Images
Eriq Gardner
February 5, 2024

Kevin Spacey just received a multimillion-dollar reprieve. Back in 2022, the disgraced actor was ordered to pay $31 million to Media Rights Capital, producer of House of Cards, for breaching his contract when he engaged in sexual misconduct on set. But in recent days, I’ve learned that Spacey has come to an equally astonishing settlement: If he cooperates with MRC’s lawsuit against the show’s insurers, including by testifying at a trial potentially happening this summer, his debt will be wiped clean.

The settlement represents a massive gamble by MRC, which has spent the past several years engaged in a multifront legal war to recover money it lost when Spacey was fired before what became the final season of the hit Netflix show. In late 2021, an arbitrator ruled that Spacey’s behavior on set was less than professional and breached anti-harassment policies. MRC eventually secured a $31 million judgment against the actor, which has steadily accrued another $5 million in interest while Spacey pursued multiple rounds of appeal.