Prince Edward personally absorbed more than £108,000 in outstanding rent owed by his unsuccessful television production company Ardent, documents appear to show.
The firm occupied converted office space within the stable blocks at the Duke of Edinburgh’s £30million Surrey estate from 1999 until May 2003.
Despite annual rent being initially set at £50,000 before increasing to £62,500, Ardent paid approximately £18,000 in total during its four-year tenancy at Bagshot Park.
Palace sources told the Telegraph that the Duke and Duchess of Edinburgh covered the shortfall themselves, with the royal couple absorbing the cost of the waived payments.
Prince Edward personally covered a £108,000 rent shortfall from his failed TV company, documents appear to show
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Ardent was established in 1993, with the then-Earl of Wessex declaring it would become one of Britain’s leading production companies.
The venture attracted initial funding of £200,000 from the prince himself, alongside investments from Kwik Fit chairman Tom Farmer and DFS furniture chain owner Michael Kirkham.
However, the company faced persistent criticism that it amounted to little more than a vanity project, with its inaugural documentary focusing on Real Tennis, an obscure indoor racquet sport with only several thousand UK participants.
Further controversy arose from accusations that Edward exploited his royal connections by producing programmes about his own family, including films on Windsor Castle’s restoration and his great-uncle Edward VIII.
Prince Edward pictured on his first day working at Ardent in 1993
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The prince stepped down as joint managing editor in 2002 after Ardent was compelled to apologise for dispatching a camera crew to St Andrews while Prince William was studying there, breaching privacy agreements with media organisations.
When the couple withdrew from the business that year, Queen Elizabeth II reportedly provided a one-off £250,000 payment to compensate them for their lost income.
The production company ultimately ceased operations in 2009, with final documents published in 2011 revealing that investors received a mere £40.27 when the firm was wound up, a stark contrast to the substantial sums originally committed by its backers.
These revelations emerge amid heightened scrutiny of royal housing arrangements following a National Audit Office report on Crown Estate leases published earlier this month.
Prince Edward pictured in Los Angeles in 1999 to promote his television production company Ardent Productions
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A copy of a statement by Ardent Productions Ltd, defending itself against claims it broke a media agreement and filmed Prince William at St Andrews University
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The Old Stables, a Grade II-listed building situated 400 metres from the main residence, was recently advertised for more than £130,000 annually before being withdrawn from the market for refurbishment.
Prince Edward’s own lease on the 120-room Bagshot Park mansion was renegotiated in 2007, when he paid £5million upfront for a 150-year agreement at peppercorn rent.
Unlike other royal leases, including those held by Andrew Mountbatten-Windsor and Prince William, no restrictions prevent Edward from selling his lease to non-royals.
GB News has contacted Buckingham Palace for comment.