Beckhams acquire full ownership of their brand company

David and Victoria Beckham have acquired full ownership of the footballer’s brand company, buying out the minority stake held by Simon Fuller, their longtime business partner and creator of the American Idol talent show.

The former Manchester United footballer paid about $50m for the 33 per cent stake, which had been held by Mr Fuller’s XIX Entertainment group, according to two people familiar with the transaction. The deal gives Mr Beckham and his wife Victoria full control of the company, which manages his partnerships and brands. It consists of stakes in Seven Global and David Beckham Ventures and includes a stake in Inter Miami FC, a football club set to start playing in the US Major League Soccer next year.

Beckham Brand Holdings was founded in 2014, but the relationship between Mr Fuller and Mr Beckham goes back further, with a mechanism that would allow the retired footballer to take full control of the business that carries his name whenever he wanted.

via Financial Times