Madonna and her ex-husband Guy Ritchie have finally reached a divorce settlement that requires the singer to pay the British filmmaker at least 50 million pounds ($76 million), the pop icon’s spokeswoman, Liz Rosenberg, announced on Monday.

Liz Rosenberg explained that the settlement was between 50 million and 60 million pounds ($76 million and $92 million), according to the former couple’s divorce agreement. She added that the figures also consisted of the value of Madonna and Guy Ritchie’s country home, Ashcombe House in western England, which will remain in the possession of the movie director.

Liz Rosenberg said that the couple’s west London pub, the Punchbowl, would also be kept by Guy Ritchie.

Madonna and her ex-spouse had an estimated $525 million fortune, although the greater part belonged to the 50-year-old singer, as Guy Ritchie’s wealth was worth approximately $35 million.

Madonna’s spokeswoman said that the settlement between the parties was presumably “one of the largest payouts ever in a divorce settlement.”

For instance, the multimillion pound settlement is about two times higher than the sum paid out in another famous celebrity divorce that featured former The Beatles member Paul McCartney and model Heather Mills.

The most impressive contested divorce settlement in the history of Britain included the 48 million pounds (approximately $90 million back then) payout insurance magnate John Charman was requested to offer to his ex-wife a couple of years ago.

Nevertheless, United Kingdom-based entertainment attorney Ambi Sitham explained that it seemed sensible for Madonna to separate from her British property because she had no plans to stay in England, The Associated Press quoted her as saying. She added that given the fact that worldwide business was in the midst of an economic crisis, Madonna would not benefit from selling her properties.

Liz Rosenberg said that despite the fact that the financial part of the agreement had been covered, custodial arrangements for the couple’s children remained unresolved.

Madonna and Guy Ritchie have two children together, 8-year-old Rocco and 3-year old David Banda, who was adopted from Malawi in 2006. In addition, the pop star has a 12-year-old daughter, Lourdes, from a previous relationship with personal trainer Carlos Leon.

The two tied the knot during a sumptuous ceremony in December 2000 at Skibo Castle in the Scottish Highlands.

However, during the past couple of years various reports started claiming that their marriage was collapsing. In spite of the fact that Madonna denied all accusations, tabloids link her to Alex Rodriguez and his divorce from wife Cynthia.

The singer and Guy Ritchie made their breakup public in October following months of speculation. The two were granted a preliminary divorce decree last month and the divorce is expected to become final and official in January.