The Duke of York has reportedly closed a deal to make money by sharing contacts he had made through his pitch@Palace initiative.
Prince Andrew was able to earn millions under the deal with Startupbootcamp (SBC), based in the Netherlands, from the project that aimed to connect entrepreneurs with investors.
Pitch@Palace is confronted with control since Yang Tengbo, an alleged spy that led the Chinese branch of the project, was banned from the UK last year on national security grounds.
According to the apparent new agreement, the duke will be paid for every deal that corresponds to global areas.
It comes in the middle of a row between the king and the prince, 64, after the prince had cut off its private security and £ 1 million compensation in October.
The King wants Andrew to move to Frogmore Cottage, the former residence of the Duke of Sussex, is claimed
The move is considered the king's first step to remove his younger brother from Royal Lodge, a house with 30 rooms in Windsor that is being thought of Sussex's former home.
SBC officials reportedly threw the idea of Buckingham Palace last year.
A source told the sun: “[Prince Andrew] Will make money with every deal that SBC protects against his pitch@palace work and the windfall will help him to hold Royal Lodge.
“It is a way to use the enviable business ties that he has secured over the years.”
It is, however, understood that the reputation guarantees of SBC looked for the partnership and, as a result of the shared information, did not raise any objections to the company. However, the palace was not involved in negotiations on conditions or contractual details, because the duke is a private individual.
The prince has been struggling financially since he was stripped of his working royal titles three years ago by the deceased queen.
He also confronted with control over his ties with pedophile Jeffrey Epstein after a disastrous newsnight interview in 2019.
The prince also stepped away from Pitch@Palace after the research into his relationship with Epstein came to light.
De Duke launched his pitch@Palace initiative in China. The leader there was accused of foreign agent and banned from the VK – Anthony Devlin /WPA /Getty
The Prince launched Pitch@Palace, which led a Den-Stijl company in the UK in 2014 in the UK, in the United Kingdom.
Two years later he launched it abroad, including in China, which was operated for profit.
Yang, 50, a businessman who was appointed for the Chinese branch in Leiden, was unveiled last year as the suspected foreign agent involved in a spy scandal in the UK. In 2023 he was banned from the UK on national grounds for safety.
Pitch@Palace has confronted with control after the revelation that Mr Yang reportedly visited Buckingham Palace twice and was invited for the Hertog's 60th birthday party.
In the meantime, Business Matters reported in January that half of the cash balance at Pitch@Palace Global, the commercial arm of the scheme, was withdrawn into the space of a year.
The last figures from Companies House show that the funds of the company fell from £ 454,979 to £ 220.990 in the 12 months to 31 March 2024. The destination of the funds is not mentioned, according to documents.
