Prince Andrew has denied his mother, the Queen, will be paying off the multimillion pound debt owed on the ski chalet he owns with his former wife Sarah Ferguson.
Reports over the weekend suggested the Queen was to pay off more than £6m ($7.5m) which the Duke of York owes on a chalet in Verbier, where he and his children, princesses Beatrice and Eugenie spent their winter holidays.
However the duke has now quashed those reports, and said he hopes the sale of the lodge will cover the money he and the Duchess of York still owe.
A spokesperson for Prince Andrew said: “The Queen will not be stepping in to settle the debt owed on the Swiss chalet. The chalet is currently on the market and it is expected that its sale will enable outstanding debts to be met.”
It comes after reports the duke will never return to public duties, having stepped back in the wake of his disastrous interview about his friendship with Jeffrey Epstein.
Andrew, 60, and his ex-wife reportedly bought the seven-bedroom holiday home in the ski resort of Verbier for £18.3m in 2014 but allegedly failed to pay off a chunk of the total sum by a deadline of December 2019.
Earlier this month, a spokeswoman for the Duke of York said: “We can confirm there is a dispute between the two parties in this matter. The contractual details remain the subject of a confidentiality agreement and prevent further discussion.”
Buckingham Palace has not commented on the matter.
The duke stepped back in November after failing to show regret in an interview about his friendship with Epstein, who took his own life in prison.
Virginia Giuffre, who claims she was trafficked by Epstein, alleges the royal had sex with her on three separate occasions, including when she was 17.
Andrew, who strenuously denies the allegations, has faced calls to talk to the FBI and US prosecutors still investigating Epstein, who say the royal has declined to co-operate with them.
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