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Prince Andrew could be facing eviction from his home at Royal Lodge after his lucrative business deal is reportedly falling apart.
Last month, the disgraced Duke of York inked a deal with Dutch-based firm Startupbootcamp (SBC) that promised to pay him millions in exchange for his connections from the Pitch@Palace initiative, the New York Post reports.
The 65-year-old’s joint venture with SBC marked the first known work he’s undertaken since stepping down as a working member of the Firm in 2020.
However, sources close to the start-up have told BBC News that weeks after the former working royal joined the team, nothing has been signed and no transactions have taken place.
Andrew was due to receive a cut for each deal Startupbootcamp made across global territories, as per the agreement.
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Prince Andrew is experiencing a setback just one month after signing a lucrative new business deal. Picture: Toby Melville – WPA Pool/Getty Images
The Duke of York’s Royal Lodge where he has lived since 2004.
Kauan von Novack, CEO of Startupbootcamp, even spoke out about the partnership with the scandal-scarred royal, saying the company’s mission “is to help entrepreneurs to create the change the world needs.”
“We see immense value in the network built up by Pitch@Palace,” he added at the time.
There’s been no word from Andrew about the ambitious business venture.
Royal Lodge has been in royal hands for nearly a century. Its walls witnessed Queen Elizabeth II’s childhood as a young princess — and after her father King George VI’s death, the Queen Mother continued to live there until 2002.
The duke moved into the $57 million mansion in 2004 after taking on a lease that lasts until 2078. He currently resides there with his ex-wife, Sarah Ferguson.
The scandal-hit prince has been doing all he can to remain at the Royal Lodge since his brother, King Charles, expressed a strong desire to downsize him into a smaller property.
The monarch urged him to follow the late Queen’s plan and move out of the 30-bed mansion and into nearby Frogmore Cottage, the former residence of Prince Harry and Meghan Markle.
Last year, Andrew was on the brink of eviction — but nonetheless refused to move into the smaller home.
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King Charles expressed a strong desire to downsize Andrew into a smaller property. Picture: Max Mumby/Indigo/Getty Images
The King has urged his scandal-hit sibling to relocate to Frogmore Cottage. Picture: Leon Neal/Getty Images
The monarch urged him to follow the late Queen’s plan and move out of the 30-bed mansion. Picture: Mark Cuthbert/UK Press via Getty Images
Despite being poised to leave the royal digs after Charles refused to continue financially carrying his brother’s weight, Andrew managed to find a mystery financial backer at the eleventh hour.
The new gig was said to have been a financial lifeline that could have provided him with a much-needed cash boost.
However, it’s now been thrust into doubt given that no transactions have taken place.
It comes as Andrew had taken up household chores in a desperate bid to pinch a few pennies around Royal Lodge, given its “shocking” current state.
Parts of this story first appeared in the New York Post and was republished with permission.