Prince Andrew's Financial Crisis: King Charles Cuts Support

  • WorldScope
  • |
  • 02 November 2024
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Prince Andrew has reportedly faced a significant financial cutoff from his brother, King Charles, as detailed in a recent royal biography. The Duke of York has been struggling with the expenses associated with maintaining his extensive 30-room residence at Royal Lodge in Windsor. According to royal author Robert Hardman, the King has opted to cease funding security for Prince Andrew’s home and to withdraw his personal allowance. This combination of expenses is estimated to total several million pounds annually.

Buckingham Palace has refrained from commenting on the assertions made in Hardman’s biography, which is being published in installments by the Daily Mail. The updated account reveals that the Keeper of the Privy Purse has been directed to terminate both the personal allowance and security provisions for Prince Andrew. The BBC had previously reported that King Charles was unwilling to indefinitely subsidize his brother’s lifestyle, suggesting this recent decision may be a definitive step toward financial independence for Prince Andrew.

Currently without an official spokesperson, Prince Andrew has not addressed these new claims about his funding situation. Should these changes be implemented, he would be responsible for covering the costs associated with maintaining and securing Royal Lodge, a historic property that is leased from the Crown Estate. Maintaining such a large estate is expected to be costly.

This financial strain on Prince Andrew follows the production of two films earlier this year—one by Netflix and another by Amazon—focused on his controversial 2019 BBC Newsnight interview regarding his ties to convicted sex offender Jeffrey Epstein. Following this scandal, he stepped away from royal duties, relinquished military titles and patronages, and retreated to life at Royal Lodge.

While King Charles is now reportedly taking action regarding funds, sources have indicated that discussions about Prince Andrew’s future housing and finances began prior to the King’s reign. It has been suggested that he consider relocating from Royal Lodge to Frogmore Cottage, previously occupied by Prince Harry and Meghan Markle, due to its lower maintenance costs.

Prince Andrew holds a personal lease on Royal Lodge until 2078, having made significant upfront payments when he acquired it in 2003. He invested over £7.5 million in renovations and paid £2.5 million upfront to secure favorable rental terms. However, should he vacate before 2028, he would only recover a diminishing portion of his renovation investment.

Despite facing substantial security and maintenance expenses moving forward, it appears that King Charles will no longer cover these costs, as noted by Hardman’s biography. A source remarked that “the duke is no longer a financial burden on the King.” The biography is set for release by Macmillan on November 7.

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