WOOD FACES MASSIVE DIVORCE PAYOUT

Last updated: Sunday, September 28, 2008

WOOD FACES MASSIVE DIVORCE PAYOUT

ROLLING STONE rocker RONNIE WOOD is facing a massive $92.5 million (GBP50 million) payout to his estranged wife JO after she began to seek advice from lawyers about a possible divorce.

RONNIE WOOD

Wood, 61, was exposed as a love cheat after his affair with Russian Ekaterina Ivanova, 20, was exposed in June (08).

The star, who returned to rehab earlier this summer (08) to curb his alcohol addiction, has been living with his young lover in recent weeks, and the couple was snapped together for the first time on Monday (22Sep08) as they enjoyed a romantic meal at a top London restaurant.

But the pictures have infuriated Jo, prompting her to consult her attorneys with a view to officially ending her 23-year marriage.

A close friend of Jo tells Britain's News of the World newspaper, "She feels humiliated, spurned and furious that her best friend has treated her like that. She has spoken with her legal team and they've made it clear she is in a terrifically strong position."

Wood's wife has played an intricate part in his career, working as his executive assistant, holding a controlling stake in the couple's finances and acting as his personal management assistant on a number of profitable deals. Jo also serves as a joint director of his music empire Rockyarch and is company secretary for his painting business Scream Art.

This means that if Wood is taken to the divorce courts, the payout to Jo is likely to eclipse that of Sir Paul McCartney's $50 million (GBP24.3 million) divorce settlement with ex-wife Heather Mills.

Jo would be entitled to half of Wood's estimated $129.5 million (GBP70 million) fortune - but she could also scoop another 20 per cent of his earnings for her time as his employee.

Source: WENN

| Sunday, September 28, 2008

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WOOD FACES MASSIVE DIVORCE PAYOUT

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