Prince Andrew’s desperate financial woes only grow as multi-million deal to sell his business blows up in his face

A potential business deal that could have possibly saved Prince Andrew from his financial troubles could be on the verge of collapse according to a source.

The Pitch@Palace Network was designed as a platform to allow U.K. entrepreneurs the opportunity to “make transformational connections that could accelerate their businesses,” according to the company’s own website. It was initially started by Prince Andrew back in 2014, and boasts “a strong ecosystem with 1,000+ entrepreneurs from 64 countries globally.”

Andrew was hoping to sell his company

There had been interest from a Dutch company called Startupbootcamp (SBC) to buy the Pitch@Palace business from Andrew. Negotiations were already underway, and could have netted the prince a profit in the millions. But according to the BBC, sources close to the negotiations say that nothing has been signed yet and no transactions have taken place despite the fact SBC has already announced its intended takeover.

The Dutch company had previously expressed a lot of interest in the deal, and even released a positive press statement about the “immense value in the network,” but the source went on to say that no formal agreement had been reache. SBC initially planned to takeover from the prince alongside its “strategic partner,” Waterberg Stirling. However, the situation has since changed, with SBC reportedly wanting to severe ties with the investment firm.

So in truth, nothing’s set in stone for Andrew yet, and with SBCs arrangement with Waterberg Stirling falling through, things aren’t looking promising. On top of that, the prince is facing all kinds of bad publicity, from befriending a suspected Chinese spy, to his connection with Jeffrey Epstein. There’s a strong possibility that negotiations with SBC could fall through, leaving Andrew high and dry.

This couldn’t be a worse time for Andrew

The prince is in a tight financial situation right now, so he could really do with that money. Andrew’s money problems mainly stem from his own stubbornness and entitlement, as he has been financially cut off by King Charles, who has been trying to get his brother out of the Royal Lodge for a long time now. 

Andrew, who signed a lease with the Crown Estate to stay in the house until 2078, pays around $336,000 annually in rent, and he is also responsible for the upkeep of the $38 million property. There has been much speculation and scrutiny of his finances, with many expressing doubts that he could afford to keep the property without the financial aid of the crown. 

He was even offered an alternative property by Charles, one that had once belonged to Prince Harry and Meghan Markle, but Andrew, stubborn as ever, refused to move to the smaller property.

This huge business deal between Andrew and SBC could have eased the troubling financial situation Andrew is no doubt facing right now. Now that things are looking less sure, it’s unclear whether he will be able to obtain the funds to continue living at his current residence. But let’s not forget, he’s still a royal, so he’ll never be financially destitute. Maybe he could join Harry and Meghan over on Netflix in order to get by.