Buckingham Palace is preparing a significant financial package for Prince Andrew that includes a substantial upfront payment and ongoing annual support, according to well-placed sources within royal circles.
The Financial Details
The Duke of York is reportedly in line to receive a six-figure sum described as being in the "low hundreds of thousands" of pounds, alongside a yearly stipend to cover his expenses. This arrangement forms part of King Charles's broader strategy to streamline royal finances and define the future roles of working royals.
Sources indicate the payment is intended to help Andrew transition to his new status as a non-working royal while maintaining his residence at the Royal Lodge in Windsor. The exact figures remain confidential, but insiders suggest the package represents a careful balancing act between supporting a family member and respecting public sentiment.
Broader Royal Financial Restructuring
This development comes as King Charles implements what palace insiders are calling the "slimmed-down monarchy" vision. The sovereign grant, which funds the monarch's official duties, increased significantly this year to £117 million, primarily to cover extensive renovations at Buckingham Palace.
The financial arrangements for Prince Andrew are being handled separately from the main sovereign grant, with the King understood to be drawing on other resources within the royal estate. This approach reflects the delicate nature of providing for a prince who stepped back from public duties following the controversy surrounding his association with Jeffrey Epstein.
Ongoing Royal Responsibilities
Despite no longer undertaking official royal engagements, Prince Andrew remains:
- Counsellor of State
- Colonel of the Grenadier Guards
- Involved in various charitable organisations
His continued residence at the 30-room Royal Lodge, which requires significant maintenance costs, has been a point of discussion within royal financial planning. The new financial package appears designed to address these ongoing commitments while acknowledging his changed status within the institution.
Neither Buckingham Palace nor representatives for Prince Andrew have commented publicly on the specific financial arrangements, maintaining the tradition of keeping private royal financial matters confidential.
