David Beckham and Simon Fuller No Longer Business Partners! What Will Happen to the Beckham Brand?
More than two decades in doing what he does best, David Beckham announced that he was retiring from football at just 38 in 2013. Note that this was days after his then club Paris Saint-Germain nabbed France’s 1 Ligue 1, and everyone was shocked upon hearing about the athlete’s decision.
Some may say he was too young to have done so, while others would argue that it was what’s best for the star. But whether he is in the field or on his current ventures, he certainly knows how to make a statement.
Retiring doesn’t always mean choosing to stay out of the spotlight, it could also be about choosing priorities, exploring different paths, or spending quality time with your loved ones.
For David, who had carved his name in sports, that meant forming up his Beckham Brand Holdings just a year after his announcement. But he wasn’t alone in this as his wife, Victoria, who he wed in 1999, supported him all throughout.
The high-profile couple recently bought out one of their partners, Simon Fuller, for a reported $50 million. The former stakeholder, who amassed money for creating “American Idol,” had a 33-percent share in the Beckham’s businesses – the film and TV producer used to be the manager of the Spice Girls, which Victoria was a member of.
Reason for the Decision
With Simon out of the picture, that leaves David and Victoria in full control of the Beckham Brand Holdings, which has shares in Seven Global and Inter Miami FC, a football club based in the United States.
It also had stakes in David Beckham Ventures businesses, which takes care of partnerships with brands like L’Oreal and Adidas. This resulted in a $150-million valuation of the business.
According to reports, David made the move because he wanted to focus on the US soccer team that was slated to play by 2020.
Apart from the buyout, the 44-year-old also recently bought shares in Salford City, a British football team. For the past six years since his retirement, the father of four has been nothing but restless in his business ventures.
Because he signed a deal with Los Angeles Galaxy in 2007, David snatched a Major League Soccer team for just $25 million, a huge discount indeed.
According to reports, his annual base salary was $6.5 million and he also got a portion of the revenue, which totaled $50 million in the five years. That meant he didn’t need to shell out money for his purchase after all.
Above all this, David has a pretty enviable personal life, too. On July 4, he and Victoria are celebrating their 20th anniversary, a huge milestone for any couple.
Although two decades have passed, things weren’t smooth sailing, but what’s admirable is that they are standing strong amid the rumors and speculations. You’ll probably catch them in fashion shows with their kids Brooklyn, Romeo, Harper, and Cruz.
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