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The X Factor

Report: Britney Spears Almost Went Broke Due to $700k Monthly Spending Habits

Britney Spears' trial with ex-"manager" Sam Lutfi is getting vicious, y’all. You might say Brit-Brit is at a Crossroads — but fear not, she's stronger than yesterday. In case you need an update, Sam is suing Britney and her parents for defamation of character, libel and breach of contract. Basically, Lynne Spears made some questionable comments about Sam in a book, and he is less than pleased. This trial is all kinds of stressful, but thanks to court documents we're learning a few specifics about Britney's financials.

"Britney was hemorrhaging money at the time when Sam Lutfi was in her life and acting as her manager," a source tells RadarOnline. "Her estimated networth in 2007-2008 was $32 million dollars. However, she was spending about a whopping $700k a month."

So, why was Brit such a big spender? According to the source, she had huge legal bills, and splurged on shopping, cars, and homes. "Britney wasn't working during that time and didn't have a source of new income coming in," the source adds. "At the rate she was spending money when Sam was in her life, had it continued without her dad getting conservatorship, she would have been broke."

Nowadays, Britney's fortune is estimated to be $100 million thanks to The X Factor and her extremely successful Circus tour. "Sam wants a piece of her fortune now, which absolutely infuriates her parents who are also being sued by him," the source says. "The only reason that Britney is in the black now is because her dad took control and got Sam out of her life. Period. It's important to remember that Britney never signed a contract for Sam to be her manager, it was only an oral commitment according to Lutfi."

Well, this sounds stressful. Thank goodness Britney's raking in the dolla dolla bills again!

Source: RadarOnline

10.19.2012 / 03:43 AM EDT by Mehera Bonner
Related: The X Factor, Britney Spears, News

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