Phoenix, AZ — The toy giant maker, Mattel®, was ordered to pay a Phoenix man in Arizona District Court today a little more than $43 million after it could not deliver on the contract the two agreed to over 26 years ago.
Mattel® told the courts it could not deliver on the technology for a Hoverboard from Back to the Future Part II even though it guaranteed this product since the movie was released in 1989, following the 1985 cult classic Back to the Future.
Phoenix resident, 36-year-old Paul Horner, who invested $700,000 in 1989 to be the first to have the new technology says he is disappointed not to have the much desired and popular gimmick from the movie.
“This has been a 26-year long legal battle, that I am now finally thrilled has come to an end,” Horner told reporters. “I’m happy with the decision made by The Honorable judge Lisa Loyd decision today but at the same time completely devastated I don’t have my Hoverboard after all these years.” “Horner continue, “I am a man of God. I truly have no interest in the money, I just my thought the children would enjoy playing on the Hoverboard.”
A Hoverboard (or hover board) is a levitating board used for personal transportation in the films ‘Back to the Future Part II’ and ‘Back to the Future Part III’. Hoverboards resemble a skateboard without wheels. Scientists at Mattel® told reporters they were unfortunately never able to make the technology work and the project was finally scrapped.
The closest thing to a Hoverboard society currently has is a device called the HENDO Hoverboard, a magnetic skateboard that can only float above a copper surface and can only get one inch off the ground and in addition, it still needs funding from Kickstarter. And don’t even try to call this wood plank with leaf blowers attached as a Hoverboard.
“It is a shame it had to come to this” Downey told reporters after the verdict. “Horner just wanted his Hoverboard and Mattel® wanted to deliver. It’s such a shame and a lose-lose situation for both parties.”
Though I’m sure attorney Tom Downey is all smiles with his 33% commission, which breaks down to approximately $14,190,000 dollars.
The $700,000 was part of a singed contract after the release of Back to the Future Part II making it 100% legitimate. After the verdict was read, both the lawyers from opposing sides celebrated by drinking a Banksy inspired alcoholic drink called The Paul Horner.
All parties involved say they are happy to hear that the case is finally over with. It is unclear where Horner was able to raise $700,000 at only the age of 10, though the lawyer for Horner would not disclose this information. The IRS is currently looking into this matter.
“It’s really not about the money, I just wanted to share the Hoverboard with all the elementary school children I work with on a daily basis.”
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VIDEO: Mattel® Ordered To pay $43 million To Man Who Invested In ‘Hoverboard’ Technology 26 Years Ago
More Fun With The Hoverboard From Back To Future:
Mattel, Inc is an American toy manufacturing company founded in 1945 with headquarters in El Segundo, California. In 2014, it ranked #403 on the Fortune 500.