The REAL Becks split ...David and the TVmogul
THEIR partnership has been one of the longest and most lucrative in the world of celebrity.
But after 23 years together, David Beckham and his long-term business partner Simon Fuller – who created the Pop Idol brand – are about to go their separate ways after the former footballer decided that he wants to manage and run his own company.
While all the talk has been about the state of the Beckham marriage, I understand that the real fall-out is between David, 43, and Fuller 58, and that there’s a major wrangle over money.
David is currently negotiating a buy-out of shares that Fuller holds in DB Ventures, the most financially successful company within the Beckham brand. One sticking point is thought to be over how much the shares are worth.
Fuller relinquished his role as David’s manager earlier this year and is thought to be keen to hold out for as much money as he can get from the split.
He then plans to move on to work on other commitments, which include a new BBC wildlife show and managing his ‘global pop band’, Now United.
Last year, Beckham’s business recorded a staggering £24.9million profit after tax, thanks to the success of enterprises such as his men’s fashion range Kent & Curwen and his role as global ambassador for pan-Asian life insurance group, AIA in Hong Kong – alone thought to be worth more than £5 million per year.
Fuller, 58, is a part-owner of Beckham’s US soccer team, Inter Miami, but could lose his interest. He will remain a shareholder in David’s wife Victoria’s fashion business, as well as managing her.
A source close to Fuller said: ‘David wants to go forward without Simon. Now he’s no longer playing football he sees himself as a businessman and wants to free himself from all of this.
‘There is a lot of wrangling over money. Brand Beckham has been going for 23 years and it isn’t an easy one to untangle.’
Fuller’s pals say he no longer needs David in his stable.