Rumours about the financial woes of David and Victoria Beckham have steadily increased over the past months and the news that they are selling their mansion in England seals the deal. Amid fears that their over spending will lead them to bankruptcy the Beckhams have put their Sawbridgeworth home on the market for a reported £18 million (Dhs102m).
The property known as Beckingham Palace was brought by the superstar family in 1999 for a fraction of the cost it is worth now. But as friends reveal the Beckhams are done with England. "Frankly they cannot see themselves ever returning to make London their full-time base,” said a source close to the couple. “The children are settled, speak with American accents and David and Victoria are immersed in the laid back Los Angeles way of life. They love it there - they're well liked, have plenty of friends and feel it's their spiritual home.”
Their accountant also instructed the millionaires to stop spending so recouping on the cost of the house will improve their bank balance. “This very no-nonsense accountant gave it to Vic straight,” said a spy.
"Beckingham Palace takes a lot of looking after... It made them realise it was pointless having it. Victoria's design studio is in Battersea (south London) so when she's over for business she stays in Claridge's Hotel as it's more central. They spend a small fortune on London hotel bills and have a house an hour away sitting empty."
The Beckhams also have properties in LA, France and Dubai.