Posh and Becks split up (but it’s only over business)
DAVID and Victoria Beckham’s worldfamous ‘Brand Beckham’ business is to split in two.
Becks is seeking to buy out DB Ventures from its deal with former pop svengali Simon Fuller’s business XIX Management. With Posh continuing to work with the former Spice Girls manager, it will spell the end of the couple’s business fairy tale.
Last November, I revealed how Becks and his long-term business partner and manager Fuller were to separate, with the former footballer wanting to run his company himself.
Since then, he and the Pop Idol creator have been in discussions over how much David, 43, will have to pay for the stake that Fuller’s XIX holds in DB Ventures, which in 2017 made a profit of £23.2million.
It is understood that it could set back David somewhere in the region of £65million to break free – and fold the couple’s umbrella company Brand Beckham Holdings.
Sources close to Victoria, who turned 45 last week, say that she and Fuller have no plans to end more than 23 years working together after he was brought in to manage the Spice Girls in the mid-1990s.
The pair hope to turn around the fortunes of her fashion range after massive losses in recent years. They are hoping a recent £30million investment from City firm Neo Investment Partners will do the trick.
A source tells me: ‘Victoria is staying with Simon, even though he and David are parting company. They are very close and Fuller has a 30 per cent stake in her business – and will continue to do so. In fact, it was him who got the cash injection last year, so that relationship is very much firm.’
Last year, Fuller, 58, attempted to recruit Victoria to the Spice Girls reunion tour but the plan was kiboshed by Neo Investment Partners – over fears it would ‘cheapen’ her brand.
While their businesses are going their separate ways, the couple very much appear to be in a happy place ahead of their 20th wedding anniversary in July. Last Wednesday, they celebrated Posh’s birthday as a family in Los Angeles. David even splashed out on a gorgeous bunch of pink roses for the lucky lady.