Guy Ritchie Turns Down Madonna's First Divorce Office 10/29/08

Madonna estranged husband Guy Ritchie has reportedly snubbed a $31 million (£20 million) offer from the pop superstar to settle their divorce out of court.

The pair announced earlier this month (Oct08) that they are to divorce following seven-and-a-half years of marriage.

They have been locked in divorce negotiations ever since - but director Ritchie is allegedly refusing to settle without a fight. A source says, "Guy is certainly not going to accept the first offer - £20 million is a lot of cash, but not in their world."

Madonna's fortune is estimated at a staggering $468 million (£300 million).

The former couple is also at odds over their custody plans. Madonna is said to be planning to move to New York with their son Rocco, eight, adopted son David, and Lourdes, 12, the singer's daughter from a previous relationship - while Ritchie wants them to remain close to his London home.