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David Beckham hung up his cleats seven years ago, but he is still putting up big numbers: Since 2019, Beckham and his wife Victoria have paid themselves $19.9 million (about $55,000 a day) from their various media interests.
The hefty payout packages have reportedly drawn the equivalent of a red card from auditors and creditors.
Posh Awash in Loss
David Beckham Ventures Limited, the company that manages Beckham’s image deals and his stake in Major League Soccer’s Inter Miami CF, reported a £600,000 increase in annual revenue to £16.2 million in 2019 (the latest numbers available in yesterday's report). That was good for £11.3 million in pre-tax profits.
But Victoria’s turn at entrepreneurship — through her interest in luxury goods purveyor Victoria Beckham Holdings Limited — has resulted in something of an own goal:
- Despite a £2.5 million jump in sales, pre-tax losses at Posh’s luxury fashion business ballooned to £16.5 million in 2019.
- Victoria was forced into an “extensive cost-cutting program” to survive the pandemic.
- The Beckhams can bend a soccer ball, but apparently not credit covenants. Victoria and her private-equity partners were forced to inject £9.2 million in cash to pay down a loan whose terms had been breached.
On top of monetizing his likeness on billboards around the globe, David Beckham has been investing in video games. Last fall he took a “significant minority interest” in budding e-sports company “Guild ESports,” which subsequently went public.
The Takeaway: Six years after being dubbed People magazine’s 2015 “Sexiest Man Alive,” David can still take those looks to the bank. Victoria’s business could use a little extra spice.