Madonna settles divorce for $76 million

<div class="meta image-caption"><div class="origin-logo origin-image none"><span>none</span></div><span class="caption-text">Madonna poses at the MTV Video Music Awards, in this Sept. 14, 1984 photo, in New York&#39;s Radio City Music Hall. &#40;AP Photo&#41;</span></div>
December 15, 2008 11:32:25 AM PST
Madonna has settled her divorce with ex-husband Guy Ritchie for at least 50 million pounds ($76 million), the singer's spokeswoman said Monday.

Liz Rosenberg told The Associated Press the settlement was in the range of 50 million to 60 million pounds ($76 million to $92 million) as part of their divorce agreement, a figure she said included the value of the couple's country home, Ashcombe House in western England.

Rosenberg said the couple's west London pub - the Punchbowl - would also remain with Ritchie.

A representative for the British filmmaker declined comment.

The couple were reportedly worth some $525 million, the vast majority of which belonged to Madonna. Ritchie had an estimated $35 million fortune.

Their multimillion pound (dollar) settlement is about twice the size paid out in Britain's latest high-profile celebrity divorce, that of former Beatle Paul McCartney and model Heather Mills.

"I'd assume it's one of the largest payouts ever in a divorce settlement," Rosenberg said.

She added while the financial component of the settlement had been worked out, custodial arrangements for the couple's children have yet to be finalized.

Madonna and Ritchie have two children, Rocco, 8, and David Banda, 3, who was adopted from Malawi in 2006. The singer has a 12-year-old daughter, Lourdes, from a previous relationship with personal trainer Carlos Leon.

Madonna and Ritchie, director of "Snatch" and "Lock, Stock and Two Smoking Barrels," were married in a lavish ceremony in December 2000 at Skibo Castle in the Scottish Highlands.

But in recent years, reports began to accumulate that their relationship was on the rocks. Over the summer, Madonna was linked - unfairly, she said - to the breakup of New York Yankee Alex Rodriguez and his ex-wife Cynthia.

Madonna and Ritchie announced their split in October after months of tabloid speculation. They were granted a preliminary decree of divorce on Nov. 21 and the split is expected to become final in January.

Madonna kicked off her latest tour - "Sticky and Sweet" - in Cardiff, Wales, on Aug. 23.


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