The five members of the girl group, who enjoyed huge success during the late 1990s, are set to pocket £10m each for new projects, according to a report by The Sun's entertainment reporter, Dan Wootton.
He writes that Pop Idol mastermind Simon Fuller is behind the reunion, having convinced a reluctant Victoria Beckham to be part of it.
Victoria was said to 'adamant' that she would not go back, but after being given assurances that she would not have to sing, she has now agreed to join up with the other four members of the group.
A secret meeting (not so secret anymore) is scheduled to take place in the coming days where new projects will be discussed. These include the release of a new compilation album focusing on their greatest hits, various endorsement deals, a new television talent show and TV projects in China.
Perhaps disappointingly for some, the reunion doesn't appear to include any tour dates. An insider told Wootton that Victoria and Geri Horner had made clear that other commitments made this difficult:
“Victoria and Geri agreed it would be impossible to be part of a fully-fledged tour because of family and business commitments.
“Now that she’s a top designer Victoria is concerned about singing but she wants to make money to pump back into her business.”
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