Prince Andrew could face eviction from his home, Royal Lodge, after the collapse of a business deal that was alleged to provide a financial lifeline. While the King cut off his brother financially last year, Andrew was said to have had a number of private investments, including income through a commercial partnership with Dutch company StartUpBootCamp (SBC).
However, sources confirmed to The Telegraph on Tuesday that this deal is now "dead in the water". Company directors at SBC are said to have baulked over the damaging headlines surrounding Andrew over his connections with paedophile financier, Jeffrey Epstein, and the alleged Chinese spy scandal. The deal would have allowed the Prince to abide by the terms of his lease by paying for the expensive upkeep of the 30-room Windsor estate.
© ShutterstockIt comes after a copy of the leasehold agreement, shared with the PA news agency by the Crown Estate, which oversees the royal family's land and property holdings, shows Andrew signed a 75-year lease on the property in 2003. It reveals he paid £1 million for the lease and that since then he has paid "one peppercorn" of rent "if demanded" per year.
He was also required to pay a further £7.5 million for refurbishments completed in 2005, according to a report by the National Audit Office. The agreement also contains a clause which states the Crown Estate would have to pay Andrew around £558,000 if he gave up the lease.
Under the terms of the lease, the Prince must ensure the exterior of the mansion is repainted with two coats of paint every five years and the outside stone and cement work is cleaned and repointed. He must also repaint the interior – also with two coats of paint – every seven years. Andrew is also required to "paper polish decorate" and treat the inside of the seven-bedroom home respectfully.
Giving up royal titles
In a statement issued by Buckingham Palace last Friday, Andrew relinquished the use of all of his titles and honours, saying: "In discussion with The King, and my immediate and wider family, we have concluded the continued accusations about me distract from the work of His Majesty and the Royal Family. I have decided, as I always have, to put my duty to my family and country first. I stand by my decision five years ago to stand back from public life. With His Majesty's agreement, we feel I must now go a step further. I will therefore no longer use my title or the honours which have been conferred upon me. As I have said previously, I vigorously deny the accusations against me."
© Getty Images*Month unconfirmed
June 2000
Epstein and Maxwell attend a party at Windsor Castle to mark Prince Andrew's 40th birthday, the Princess Royal’s 50th, the Queen Mother’s 100th and Princess Margaret's 70th, hosted by Queen Elizabeth II.
March 2001
Later, in 2014, Virginia Giuffre alleges that at age 17 she was trafficked by Epstein and forced to have sex with Prince Andrew on three occasions. The first occasion allegedly occurred in Maxwell’s London townhouse in March 2001. In the court filings and in her memoir released in October 2025, she claimed the other occasions occurred at Epstein's New York mansion and his private Caribbean island.
June 2008
Epstein admits to prostituting minors and is convicted, receiving an 18‑month prison sentence.
2009*
Epstein's former housekeeper, Juan Alessi, testifies during his employer's trial that Andrew received ''daily massages'' at Epstein's Florida home.
July 2009
Epstein is released from prison.
December 2010
Andrew is photographed with Epstein in New York's Central Park.
February 2011
The Mail on Sunday publishes a photo of Virginia's alleged first meeting with Prince Andrew. Andrew later emails Epstein saying ''we are in this together''.
March 2011
Alastair Watson – who spent nine years as Andrew’s private secretary – writes to The Times saying Andrew met Epstein in the ''early 1990s''. Yet eight years later, Andrew told Newsnight that he first encountered Epstein through his ''girlfriend back in 1999'', later saying he saw Epstein ''infrequently and probably no more than once or twice a year''.
July 2011
Andrew resigns as UK trade envoy shortly.
December 2014
In a Florida court filing, Virginia alleges being trafficked by Epstein and also alleges to have been forced to have sex with him, Prince Andrew and other men. The judge later said in 2015 the claims are ''immaterial and impertinent'' to the case against Epstein.
January 2015
Buckingham Palace denies Andrew has committed any impropriety after he is named in US documents linked to Epstein.
At the World Economic Forum in Davos, Andrew makes his first public engagement since the allegations. He says: ''I just wish to reiterate, and to reaffirm, the statements that have already been made on my behalf by Buckingham Palace.''
2015*
In a civil suit filed against Ghislaine Maxwell, Giuffre testifies that Epstein paid her $15,000 to have sex with Andrew.
May 2016
During a deposition in her case against Maxwell, it emerges that Giuffre lent the infamous photo to the FBI in 2011 but allegedly last saw it packed in a box and shipped from Colorado to Sydney sometime between between 2011 and 2016, when she emigrated to Australia.
June 2018
Alleged Chinese spy Yang Tengbo visits Buckingham Palace twice to meet Andrew. He is also said to gain entry to St James’s Palace and Windsor Castle after being invited by the Prince.
2019*
A newly released document includes a claim from Johanna Sjoberg, who has said she was an associate of Jeffrey Epstein, alleging that Prince Andrew touched her breast while she was sitting on a couch in Epstein's Manhattan apartment in 2001 - an allegation he has always denied.
August 2019
Epstein is found dead in his prison cell on 10 August, an apparent suicide, after being charged with sex trafficking.
Separately David Rogers, a pilot on Epstein's private jet, claims Andrew was a passenger on past flights with Epstein and Giuffre. Rogers also testifies that Epstein, Andrew and Giuffre travelled to the US Virgin Islands on 11 April 2001.
Buckingham Palace says the report contains ''inconsistencies'' and notes that in some cases Andrew was on a different continent.
In a statement, the Palace says Andrew is ''appalled by the recent reports of Jeffrey Epstein’s alleged crimes''.
Andrew also issues a statement: ''At no stage during the limited time I spend with him (Epstein) do I see, witness or suspect any behaviour of the sort that subsequently leads to his arrest and conviction.''
November 2019
BBC Newsnight broadcasts an interview in which Andrew speaks about his relationship with Epstein ''with no bars.'' He says he has ''no recollection'' of ever meeting Giuffre and adds he could not have had sex with her in March 2001 because he was at Pizza Express with his daughter, Beatrice, that day.
He also says he ''does not regret'' his friendship with Epstein, though he admits he should not have visited him in New York in 2010 to break off their friendship.
Four days after the interview, he announces he is stepping back from royal duties ''for the foreseeable future'' with permission from Queen Elizabeth II.
He says he ''deeply sympathises'' with Epstein’s victims and is willing ''to help any appropriate law enforcement agency with their investigations, if required.''
December 2019
Giuffre appeals to the British public in a BBC Panorama interview released in December 2019, urging them to ''stand up beside me… help me fight this fight'' and ''not accept this as being OK.''
January 2020
A US prosecutor claims Andrew has provided ''zero co‑operation'' in the Epstein sex trafficking inquiry.
US Attorney Geoffrey Berman speaks outside Epstein's Manhattan mansion saying Andrew's lawyers have been contacted by prosecutors and the FBI, who request to interview him.
March 2020
Andrew’s aide, Dominic Hampshire, writes to Yang Tengbo describing the alleged Chinese spy as one of ''Andrew's closest internal confidants''.
June 2020
Andrew's lawyers say he offered to assist the US Department of Justice ''on at least three occasions this year'' in their Epstein investigation.
Hours later, Berman says Andrew ''again seeks to falsely portray himself to the public as eager and willing to co‑operate,'' though he ''repeatedly declines'' requests to schedule an interview.
August 2021
Giuffre's lawyers file a civil suit against Andrew. The Prince is the only named defendant in the 15‑page claim, though Epstein and Maxwell are referenced throughout.
December 2021
Ghislaine Maxwell is convicted in New York of aiding Epstein’s sexual abuse of teenage girls.
January 2022
A US judge rules the civil case against Andrew may proceed.
Andrew is stripped of his military roles and royal patronages, and he relinquishes his HRH title. Buckingham Palace states Andrew ''continues not to undertake any public duties and is defending this case as a private citizen.''
February 2022
Court documents reveal that Andrew and Giuffre reach a ''settlement in principle'' in the civil claim. The papers say Andrew promised to make a ''substantial donation'' to Giuffre’s charity ''in support of victims' rights'', and pledged to ''demonstrate his regret for his association with Epstein.''
January 2024
Unsealed documents linked to Ms Giuffre’s civil claim against Ghislaine Maxwell revisit previously made allegations about Prince Andrew - including references to purported sex tapes and claims he was present at an event involving underage girls. Andrew has always denied any involvement in criminal activity.
December 2024
At a High Court hearing it emerges that Yang Tengbo, the alleged Chinese spy, is a ''close'' confidant of Andrew. Andrew issues a statement saying he ceased ''all contact'' with Yang once concerns arose.
Andrew is absent from the royal family's traditional gathering at Sandringham.
April 2025
Giuffre tragically dies by suicide aged 41 in Neergabby, Western Australia.
October 2025
An email reportedly sent by Prince Andrew to Jeffrey Epstein in 2011 - in which he is said to have written, "We are in this together" - has been unearthed by The Sun and is being described as a potential "smoking gun." Andrew has consistently denied any wrongdoing.
© Getty ImagesAndrew stepped down from public life in 2019. He then stopped using his HRH style and was stripped of his military patronages by his late mother, Queen Elizabeth II. Legislation would be required for Parliament to completely strip Andrew of the Duke of York title.
