David BeckhamGETTY IMAGES
David Beckham’s "lucrative image rights company has been formally warned it could be closed down" after failing to file its accounts on time, according to Morgan & Miller of the London TELEGRAPH. Footwork Productions Ltd. -- which has paid out tens of millions of pounds in recent years to the former England captain -- "should have filed by September." The business, which he set up in '96, was served with a "notice of compulsory strike-off" by Companies House, dated Tuesday. The letter said, "Unless cause is shown to the contrary, Footwork Productions Limited will be struck off the register and the company will be dissolved" by February 11. The notice informs Beckham and his wife, Victoria, a fellow director, that the company, which "enjoyed a turnover" of more than £34M in '14, and all its property would then "belong to the Crown." Footwork Productions "is understood to be planning to file accounts in the coming days." There is "no suggestion Beckham is facing financial problems." Last year, he paid himself a £12.7M salary from the company -- the equivalent of £35,000 a day. Latest available accounts showed the company had assets of £263,596 ($330,000). Victoria Beckham's fashion label, Victoria Beckham Ltd., "has also been repeatedly formally warned that it could be closed down for failing to file its accounts on time" (TELEGRAPH, 12/11).
