According to Forbes, Jamie has made at least $5 million from Britney’s conservatorship. Per court documents reviewed by Forbes, Britney has had to pay her father $16,000 per month since February 2009 as her conservator. In 12 years, that amount has equaled to $2.4 million.
In legal documents filed in August 2021, Britney’s lawyer, Mathew Rosengart, claimed that Jamie spent more than $1.3 million in attorney fees from October 2020 to June 2021. He also alleged that Jamie asked for $541,000 in the past year for “media matters” as Britney’s conservator. “There has been an evident dissipation of assets of Ms. Spears Estate, and that dissipation is ongoing,” he said.
Per a 2021 report by The New York Times, Jamie has also received a cut of Britney’s touring revenues. The newspaper reported that Jamie received 1.5 percent of gross ticket and merchandise sales from Britney’s Piece of Me Las Vegas residency, which ran from 2013 to 2017. The show grossed $137.7 million, according to Caesars Entertainment, which left Jamie with a cut of $2.1 million. The New York Times also reports that Jamie received a 2.95 percent commission from Britney’s 2011 Femme Fatale tour, which would have made him at least $500,000.
Along with her court-ordered salary to her father, Britney has had to pay for Jamie’s $2,000-per-month office, which has cost her almost $300,000 in 12 years. Britney has also had to pay an estimated millions of dollars in legal fees for both her attorney and Jamie’s. According to Forbes, court records from 2018 to 2019 reveal that Jamie’s law firm at the time, Freeman, Freeman and Smiley, charged Britney $170,000 for her father’s legal fees. From 2016 to 2018, Britney’s former attorney, Samuel D. Ingham III, was paid $331,940.50 for 698.7 hours of work at $475 per hour while representing her.
According to a 2018 filing by Jamie’s attorney, Britney’s conservators claimed that her “estate was nearly out of funds and cash equivalents” when her conservatorship was created in 2008. The documents state that, between 2014 and 2018, Britney’s estate increased in value by $20 million as a result of her conservators’ management of her assets. “The problems were of epic proportions over a period of years,” the filing reads, according to Forbes. “Extraordinary skills have been employed by all in order to achieve the results enjoyed at the present time. [The conservator, Jamie Spears] has had many months at a time where all of his professional time was spent in services rendered exclusively to the conservatee.”
At her court hearing in 2021, Britney slammed the California court system for allowing her father to make so much money off of her. “It makes no sense whatsoever for the state of California to sit back and literally watch me, with their own two eyes, make a living for so many people and pay so many people, trucks and buses on tour, on the road with me, and be told I’m not good enough,” she said. “It’s been a long time since I’ve owned my money, and it’s my wish and my dream for all of this to end.”
No comments:
Post a Comment