Sports and entertainment guru Simon Fuller's XIX sees profits rise seven fold to £10.9m

The man behind Andy Murray, Lewis Hamilton and Brand Beckham has seen a seven-fold rise in profits at his British management company, after stand-out years for a number of clients.

The entertainment and sports impresario Simon Fuller generated profit before tax of £10.9m at his XIX Management company last year, up from £1.5m in 2014.

Accounts recently filed at Companies House for the year to December 2015 show that the sharp increase in profitability came despite a 17pc reduction in turnover to £6.06m.

XIX generates income from partnerships with stars such as tennis champion Andy Murray, Formula One driver Lewis Hamilton and cyclist Sir Bradley Wiggins.

It also makes money from ventures and management agreements with fashion designers including Victoria Beckham and Roland Mouret.

XIX owns a 33.3pc stake in Beckham Brand Holdings which in turn owns stakes in Mrs Beckham’s VBL and Mr Beckham’s DB Ventures.

XIX also cut administrative costs, down from £6.89m to £4.14m, including a reduction in staff numbers.

Mr Fuller, perhaps best known as the man behind Pop Idol and its US off-shoot American Idol, owns XIX through his US vehicle XIX Entertainment.

Profits are currently being invested in a number of digital platforms including Serengeti, a natural history drama series for the BBC, and a digital joint venture with Swedish pop legends Abba which will see the creation of a new Abba experience in London where fans can “sing” with their idols.

A spokesman for Mr Fuller declined to comment.