Victoria Beckham made nearly £1million by not joining the Spice Girls reunion tour last year, according to reports.
The 46-year-old shunned singing in the 13 comeback gigs around the UK but made the hefty sum off the back of the renewed interest in the band.
It is thought that this was significantly more than the £700,000 salary she paid herself from her struggling clothes label, according to The Sun.
Businesswoman: Victoria Beckham, 46, made nearly £1million by not joining the Spice Girls reunion tour last year, according to reports
Victoria, Geri Horner, 47, Mel C, 46, Mel B, 46, and Emma Bunton, 44, are the only active members and directors of Spice Girls Limited, according to records held by Companies House.
This meant that Victoria was entitled to a fifth of the profit made in endorsements, merchandising and licensing deals despite not actually making an appearance on the tour.
The latest accounting records show that the company made £4.5million last year – up from £124,000 the year before – following the revival concerts.
Bounce back: The latest accounting records show that Spice Girls Limited made £4.5million last year – up from £124,000 the year before – following the revival following the concerts
An insider told the newspaper: ‘This means the rest of the group will have to hand over a huge amount to Posh on the back of the old magic they conjured up.
‘The irony of the payout is that Victoria has become distanced from the Spice Girls as she’s tried to carve out a niche as a fashion designer.
‘But they have become a major source of her income once again as the clothes line falters. The other girls have handed a lot over.’
MailOnline has contacted Victoria’s representative for comment.
Slashed: Items on Outnet include [L-R] a mint blazer with black lapels, reduced to £158 down from £565 – a 72 percent drop – and a matching purse slashed half-price from £850 to £425
It comes after items from Victoria’s designer fashion label have appeared on Net-A-Porter discount site The Outnet for up to 70 per cent off.
Items on the site include a mint blazer with black lapels, reduced to £158 down from £565 – a 72 percent drop – and a matching purse slashed half-price from £850 to £425.
The Victoria Beckham brand has an ongoing relationship with The Outnet, as do the likes of Valentino, Stella McCartney and Dolce & Gabbana. The appearance of the brand’s items on The Outlet is not directly related to the the furloughing situation.
This comes after Victoria and her husband David, 45, risk fresh money fury as a report which alleges they took out a £10million bank loan to buy their £18million Miami penthouse has emerged.
Bargain! This comes after Victoria and her husband David, 45, risk fresh money fury as a report which alleges they took out a £10million bank loan to buy their £18million Miami penthouse has emerged
The couple – who are worth £335million – are said to have used their firm, Beckham Brand Limited, to take out the loan last year as part of David’s Inter Miami FC project, which they are reportedly paying back over 10 years at a fixed rate of 2.5 per cent.
According to The Sun on Sunday, The Beckhams took out a £10million bank loan to buy a the luxury property in Miami, America last year, despite having the finances to purchase the £18million property outright.
After initially questioning the need for the super-wealthy couple to require a loan, a source added: ‘If they hadn’t borrowed cash to buy yet another pad, perhaps they wouldn’t have had to furlough staff in the first place.
Yikes! This comes after Victoria and her husband David, 45, risk fresh money fury as a report which alleges they took out a £10million bank loan to buy their £18million Miami penthouse has emerged
‘If Victoria could borrow £10million to buy a Miami bolthole, there are probably a few people thinking she could have borrowed money in the first place to pay her staff, rather than try and rely on the taxpayer.’
‘While they actually applied for this loan towards the end of last year, the timing of its publication could hardly have been worse.’
MailOnline contacted Victoria and David Beckham’s representatives for comment at the time.
The couple and three of their four children are currently hauled up at their Cotswolds countryside retreat amid the coronavirus lockdown after relocating from their luxury London home.
Second home: Victoria is currently hauled up with husband David and three of their four children at their Cotswolds countryside retreat after relocating from their luxury London home
U-turn: Victoria, who recently posted this Instagram picture of her ‘working from home’ set-up, has reversed a decision to seek a taxpayer bailout for her fashion firm by furloughing 30 staff
The former Spice Girl had planned to use the Government’s Covid-19 scheme to pay 80 per cent of the wages of some of her staff.
The fashion brand, which employs 120 people, sent letters to 30 members of staff warning them that they were going to be furloughed under the Government’s scheme for two months.
She told The Guardian: ‘We will not now be drawing on the government furlough scheme.
‘At the beginning of the lockdown the shareholders agreed with senior management to furlough a small proportion of staff.
‘At that point we didn’t know how long the lockdown might last or its likely impact on the business. The welfare of my team and our business means everything to me.’
It is understood the firm’s application would have cost taxpayers £150,000.
The firm denied the U-turn was a result of the public backlash and instead insisted the board ‘now believe that with the support of our shareholders, we can navigate through this crisis without drawing from the furlough scheme’.
In a statement, the company said: ‘Victoria Beckham Ltd has been working hard to protect its people and, while adjusting to the impact of COVID-19 and the government lockdown, our decision to furlough a small number of our staff seemed the most appropriate option in keeping with many other businesses.
‘The situation is dynamic, and, with the support of our shareholders, we now believe we can navigate through this crisis without drawing from the government furlough scheme.
‘Our application was made in the best interests of trying to protect our staff, and that is still our absolute focus. We are doing everything we can to ensure we can achieve that without using government assistance.’
Previous plans: The former Spice Girl had planned to use the Government’s Covid-19 scheme to pay 80 per cent of the wages of some of her staff (pictured in London, February 2020)