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David Beckham hung up the cleats seven years ago, but he is still putting up big numbers: since 2019, Beckham and his wife Victoria have paid themselves $19.9 million (about $55k a day) from their various media interests.
The hefty payout packages have reportedly drawn the equivalent of a red card with auditors and creditors.
Posh Awash in Loss
David Beckham Ventures Limited, the company that manages Beckham’s image deals and his stake in Major League Soccer’s Inter Miami CF, reported a £600k increase in annual revenue to £16.2 million in 2019. That was good for £11.3 million in pre-tax profits.
But Victoria’s turn at entrepreneurship — through her interest in luxury goods purveyor Victoria Beckham Holdings Limited — has resulted in something of an own goal:
- Despite a £2.5 million jump in sales, pre-tax losses at Posh’s luxury fashion business ballooned to £16.5 million in 2019.
- Victoria was forced into an “extensive cost-cutting program” to survive the pandemic.
- The Beckhams can bend a soccer ball, but apparently not credit covenants. Victoria and her private-equity partners were forced to inject £9.2 in cash to pay down a loan whose terms had been breached.
On top of monetizing his likeness on billboards around the globe, David Beckham took a “significant minority interest” in esports company “Guild ESports” last fall. The electronic outfit had reportedly raised £20m to recruit 20 professional gamers ahead of an IPO.
Six years after being dubbed People magazine’s 2015 ‘Sexiest Man Alive’, David can still take those looks to the bank. Victoria’s business, on the other hand, could use a little spice.