Breaking: Harry and Meghan won’t receive $12 million in compensation just when they need the money most….See More

Prince Harry has secured a substantial $12 million payout from News Group Newspapers (NGN), publishers of The Sun, following a six-year legal battle.

However, in a report published by RadarOnline, it’s clear that the Duke of Sussex may see much less of the settlement than expected due to legal fees and taxes.

The case revolved around accusations that NGN engaged in illegal information gathering between 1996 and 2011, hiring private investigators to target Harry. While NGN initially denied wrongdoing, they ultimately issued an apology and agreed to pay significant damages.

Legal and tax deductions loom
Despite the settlement, Harry’s final take-home amount will be significantly reduced. Legal fees and court expenses will consume a large portion of the payout. As a U.S. resident, Harry is also subject to American taxes on his global income unless the funds were taxed in the U.K. first.

“Legal damages are not taxed in the U.K., but since Harry resides in the U.S., the IRS will likely expect its share unless it can be proven the settlement was already taxed overseas,” one source told RadarOnline.

The settlement arrives as rumors swirl about financial challenges for Harry and Meghan Markle. Recent projects, such as Harry’s Netflix docu-series Polo, reportedly failed to gain traction, with critics noting a lack of promotion by the streaming giant. Insiders suggest the couple is losing key allies and facing mounting pressures.

In a statement, Harry’s lawyer, David Sherborne, commended his client’s bravery in taking on NGN. Sherborne revealed that the publisher employed more than 100 private investigators over 16 years, conducting 35,000 illegal activities targeting Harry and others.

“His determination under extraordinary pressure has brought accountability to a part of the media world that thought it was untouchable,” Sherborne declared.

While Harry’s financial gain may be diminished, the case represents a significant moral victory. It highlights his ongoing fight against unethical media practices, even as he navigates personal and professional challenges.