Madonna and her her film director husband Guy Ritchie have agreed a divorce settlement, according to reports.

The deal, published in tonight's Evening Standard, states that Ritchie will not accept any of the singer's fortune.

But he his is understood to have insisted that he has shared custody of the couple's two children - eight-year-old Rocco and adopted Malawian, David Banda.

The children will spend their time between Ritchie's home in London and Madonna's property in New York.

The newspaper claims that the deal will be formally announced at the end of November.

Madonna's publicist was unable to comment on the claims when contacted by Gigwise.

The couple confirmed they were to divorce after nearly eight years together last month.

Neither Madonna nor Ritchie have spoken publicly about about the end of their marriage.

Madonna is currently performing on her 27-date Sticky & Sweet world tour.

(by Jason Gregory)