Alex Reid demanding 700k settlement

Alex Reid is reportedly asking for a £700,000 divorce settlement from Katie Price.

The cage fighter and the former glamour model are believed to be on the verge of announcing the end of their 11-month marriage, but Alex is said to be refusing to sign a financial agreement and move out of their marital home in Surrey, Southern England.

A source told the Daily Mirror newspaper: ""Kate is a romantic by nature and refused to sign a prenup.

"As a result things could get messy but if Alex has got any sense, which he has, he will not be greedy.

"He basically wants enough money to buy a house of his own, and some pocket money, because he says he invested heavily in both the marriage and the current family home.

"Kate's pretty annoyed as she feels he landed a magazine deal off the back of her, and got more TV work by using her name. She feels she's given him enough as it is."

Because the couple did not establish a prenuptial agreement ahead of their Las Vegas wedding in February last year, they have to discuss splitting their finances upon parting, but Katie - worth an estimated £30 million - has reportedly relegated Alex to a dressing room in the house and is refusing to discuss financial details until he leaves the house.

Alex, 35, is thought to have asked for £1 million originally and been offered £250,000 by Katie but now wants £700,000 from her.

Friends of 32-year-old Katie - who has children Harvey, eight, Junior, five, and three-year-old Princess Tiaamii from previous relationships - say she told them she wants Alex to walk away from their relationship with dignity rather than money.

A source said: "It's a shame, it's turned out nasty. She believes he should walk away with his head held high and with his dignity still intact.

"Katie claims Alex has made enough money out of their relationship with his TV and magazine deals over the last year. But Alex seems to have been advised that he can, and should, take more than this."

"Both sides are a long way from agreeing a compromise. It's a very end to a relationship and it's getting more bitter by the day."