David Beckham ‘pays Simon Fuller £38m to buy him out of joint business’

David Beckham

David Beckham has reportedly paid his wife Victoria’s manager Simon Fuller £38million to buy him out of their joint business.

According to the Financial Times, Simon’s XIX Entertainment has held a 33 per cent stake in Beckham Brand Holdings but the paper reports he has accepted David’s payment to forgo his share.

The former footballer’s business manages several brands and partnerships including stakes in Seven Global, David Beckham Ventures and Inter Miami FC, a football club that will play in America’s major  league next year.

The club is said to be one of the reasons why David wanted to have sole ownership of the business.

Since retiring from football six years ago, David has focused on turning his personal brand into a business empire.