Prince Andrew could receive £7m in compensation if he leaves his Royal Lodge home, latest reports claim.
This week, the Duke of York, 61, settled his civil sexual assault case by agreeing to pay a “substantial donation” to Virginia Giuffre’s charity, which supports victims’ rights.
Reports allege that Andrew is paying Ms Giuffre £12million. However, there’s no confirmation on the amount.
Prince Andrew latest
According to The Sun, unearthed documents reveal he’s entitled to up to £7million if he leaves his 31-bedroom Windsor home.
Read more: Queen ‘to pay millions to Prince Andrew accuser Virginia Giuffre’
Andrew reportedly paid £1million for a 75-year lease on the mansion in 2003.
However, the lodge could now apparently be worth around £30million. Andrew had a £7.5million refurbishment on the home.
Meanwhile, royal expert Margaret Holder told the publication: “The compensation would give Andrew a potential source of funding to repay loans to the Queen…
“…and anybody else who would lend him the money.”
The Sun claims a 2005 National Audit Office report states Andrew cannot “gain financially from any increase in the value of the property”.
However, it adds that he would receive “compensation in respect of the refurbishment costs”.
In addition, it says: “The maximum compensation of just under £7million is subject to annual reductions over the first 25 years of the lease.
“So that at the end of that period, there is nil compensation payable.”
A rep for the Duke of York declined to comment on these reports.
Elsewhere, Andrew has been facing calls to lose his remaining royal titles following the settlement news.
Piers Morgan demanded the change to titles in his column for The Sun.
Read more: Charles and William ‘convinced Andrew can’t make comeback to royal life’
The former GMB host said: “He must be immediately stripped of all remaining titles and privileges that come with being a Prince.”
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