Bing to pay €2.8m for Damian's upbringing

Millionaire Steve Bing today agreed to pay £1.8m (€2.8m) for the upbringing of his son by Liz Hurley.

He will pay £100,000 (€155,500) a year in “financial provision” for Damian – who was born earlier this year – until he reaches 18.

The film producer said he was “delighted” to make “generous provision” for the youngster.

The financial plan was agreed in a court order made in the family division of the High Court today.

Bing had previously said in public that he would financially support Damian if he was proved to be the father.

DNA tests showed in June that Bing was indeed Damian’s dad.

A statement released on Bing’s behalf today said: “A court order was made by consent in the family division today, December 17, concluding proceedings brought by Stephen Bing in respect of the child, Damian Charles Hurley, born to Ms Elizabeth Hurley on April 4, 2002.

“The applicant (Mr Bing) will make financial provision for the benefit of Damian from January 1, 2003 of £100,000 (€155,500) per annum until Damian is 18 or a further order is made.

“Mr Bing is delighted that the matter has been concluded and that he is able to honour his pledge to make generous provision for his son.”

Liz Hurley tonight said she refused to accept Steve Bing’s financial support for their son Damian and added that the money was “not wanted or welcome”.