Beckham's Two British Firms Expected To Show "Eight-Figure" Profits This Year
The reason David Beckham is "so comfortable at not earning a single penny from his current spell at Paris St. Germain "will be clear when the companies he owns publish their financial accounts," according to Nick Harris of the London DAILY MAIL. Beckham made more cash in '12 than in any single year of his career, "with tens of millions pouring in not only from a string of lucrative endorsements but also from high-profile commercial ambassadorial roles linked to the London Olympics." When Beckham signed up to his five-month spell at PSG, it was announced his salary of more than £100,000 ($150,000) a week "would be donated to a local children’s charity." However, there is a "widespread misconception" that the former England captain is earning huge sums from PSG image rights and from shirts sold with his name on it at nearly £100 ($150) a piece. A source said, "Actually, he won’t be getting anything whatsoever." When his two main British-based firms, Footwork Productions and Beckham Ventures, file their accounts later this year, "both will show eight-figure profits." Footwork earned £15.2M in the year to Dec. '11 and paid Beckham personally £13.3M ($20M). Income for '12 "will balloon" thanks to cash from adidas, H&M, Breitling watches, a one-off Burger King smoothies campaign, plus big money from Samsung and Sainsbury’s for promoting their Olympic and Paralympic campaigns (DAILY MAIL, 3/2).