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Britney Spears Removes Father from Managing Finances


Britney Spears' recently installed lawyer, Mathew Rosengart, submitted a blistering 120-page petition to Los Angeles Superior Court on Monday, arguing that the singer's father, Jamie Spears, needs to be removed from overseeing her financial affairs immediately.


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According to Rosengart, the elder Spears appears to have "profited handsomely" from being his daughter's conservator since 2008 — an arrangement that he originally requested. Rosengart also says "serious questions abound concerning Mr. Spears's potential misconduct, including conflicts of interest, conservatorship abuse and the evident dissipation of Ms. Spears's fortune."


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In the filing, Rosengart lays out some of the elements that he argues have contributed to the "dissipation" of Britney Spears' fortune. According to the petition, her father took a percentage cut on her popular four-year Las Vegas residency as if he were his daughter's agent or manager, although he doesn't perform any such role.


According to Rosengart, Jamie Spears took a 1.5% cut of the gross revenues and merchandise earnings on the Las Vegas residency — amounting to at least $2.1 million. Spears also allegedly took a 2.95% commission on his daughter's Femme Fatale tour in 2011, which totaled approximately $500,000.


Rosengart also notes that Jamie Spears has been paying himself $16,000 a month — which is $2,000 more per month than his daughter receives — plus another $2,000 for office expenses. Additionally, Rosengart argues, Jamie Spears has brought in multiple expensive teams for his own legal representation — which Britney Spears has ultimately paid for. One such firm, Holland & Knight, has charged the estate over $1.3 million just from October 2020 to June 2021 to represent Jamie Spears in litigation matters. Until earlier this month, Britney Spears was only represented by one court-appointed attorney.



Source: npr.org

 
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