David Beckham has walked away from a new £3m Gillette sponsorship deal. The shaving products manufacture failed to agree a new deal with the England footballer despite weeks of negotiations.
Beckham had been the face of the razor and shaving foam brand since 2004 but the three-year agreement ran out on June 30.
It is believed Beckham is eager to sign profit-share agreements for his sponsorship deals. Gillette is understood to have only offered a 12-month deal.
The footballer recently left Real Madrid to join the American club Los Angeles Galaxy in a £125m five-year deal that includes a percentage of club revenue.
The former Manchester United player is one of the highest paid sporting stars in the world and already has lucrative contracts with sportswear manufacturer Addidas and mobile phone company Motorola.
There was widespread speculation earlier this year that Gillette were looking to drop Beckham after signing Tiger Woods, Roger Federer and Thierry Henry for a “Champions” campaign.