Beckham fills his boots with a nice little £17m earner

[SVZ]

12/01/05 Beckham fills his boots with a nice little £17m earner

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DAVID BECKHAM was confirmed as the highest-earning British sportsman yesterday, with the publication of his company’s accounts revealing that the England captain earned more than £17 million last year.
The turnover from Footwork Productions, almost double the sum of the previous year, was on top of his £4 million-a-year salary at Real Madrid. The company is a vehicle for “brand Beckham” and demonstrates the remarkable commercial power of one of the world’s most famous footballers. The 30-year-old has multimillion-pound endorsement deals with adidas, Gillette, Pepsi, Police sunglasses and Diesel.



The accounts, covering the year ended December 31, 2004, include earnings from deals with Vodafone and Castrol that have since ended, as well as a percentage of Beckham’s image rights paid by Real. All Real players cede their image rights to the Spanish club in return for a share of their value.

The turnover of £17.34 million seems overly inflated from the previous year’s sum of £9 million because the 2003 accounts took in only eight months, for accounting reasons. Beckham has also since secured an improved deal with adidas. Last year, he paid himself £7.9 million in dividends. The directors, who include Beckham’s wife, Victoria, and her father, Tony Adams, said they were pleased with the results, adding: “The company is expected to continue at the current levels of activity in the future.” The directors were paid a total of £121,669.

Gordon Brown, the Chancellor, will also be pleased. Footwork made a £13.6 million profit, which will net the Inland Revenue £3.1 million in tax. The 2004 Sunday Times Rich List puts the Beckhams’ combined net worth at £65 million, making the couple the joint 621st richest people in Britain. Beckham’s after-tax value was estimated at £30 million and his total career earnings at £45 million.

The Beckhams are noted for their lavish lifestyle. Their three-month stay in a Madrid hotel while looking for a villa reportedly cost £427,000.

Source: http://www.timesonline.co.uk/article...898411,00.html

[Grimmlok]

they'll keep spending as the money runs out, and soon they wont be able to afford any more fake-bake for pignose.