July 21, 2007 04:14:54 GMT
Paul McCartney and estranged wife, Heather Mills, have reached a record divorce deal in which she will receive nearly £70 million settlement.
The bitter divorce battle between Paul McCartney and Heather Mills has almost come to an end as the former power couple finally comes to financial settlement with Mills receiving a staggering £70 million.
According to reports, Mills is said to get a lump sum payment of £15 million and an annual payment of £3.5 million per year until their daughter Beatrice, who will be four in October, reaches her 18th birthday. What's more, McCartney will also pay for all of Beatrice's living expenses, including her schooling, travel, nannies and security.
"We're extremely close to a resolution. The figures have been agreed," the Daily Mail quoted a source as saying.
The divorce settlement, which will be the largest in British history, also includes a condition that forbids both parties from talking about the marriage collapse. Meanwhile, both McCartney and Mills will continue to share joint access to their daughter.
The case, in fact, remains listed for a five-day hearing next February.
McCartney and Mills announced their separation in a joint statement released in May 2006 after a four year marriage. "Having tried exceptionally hard to make our relationship work given the daily pressures surrounding us, it is with sadness that we have decided to go our separate ways," the couple said at that time. "Our parting is amicable and both of us still care about each other very much."