Britney Spears Slashes Asking Price for Her Malibu Mansion  4/7/07

Britney Spears has slashed the asking price on the Malibu, California mansion she shared with ex-husband Kevin Federline in an effort to make a quick sale.

The seven-bedroom pop palace, which features a dance/workout room and a recording studio, hit the market earlier this year (07) at $13.5 million, but Spears has now dropped the price to just under $12 million.

Sources tell TMZ that Britney agreed to chop a million dollars off her original asking price because she's keen to settle her financial ties to Federline after finalizing her divorce from him last week (ends30MAR07).

Reports suggest Spears and her ex will split the proceeds from the sale of the mansion.

According to TMZ, there have been no offers on the place.