Madonna and her former husband Guy Ritchie have called reports about their divorce settlement “misleading and inaccurate”.

In a joint statement, the couple said their were both “happy” with their settlement but added the agreement would “remain private”.

On Monday, the Associated Press news agency quoted Madonna's US publicist as saying the singer had agreed to pay Ritchie nearly £50million as part of their divorce.

Liz Rosenberg said the figure, one of the largest payouts in divorce history, included the couple's Ashcombe home in England.

She letter told the BBC that the settlement was between £39-46million.

However, in a statement to the BBC today, Madonna and Ritchie said: "We have tried to maintain a dignified silence regarding the details of our divorce for the last few months whilst accepting the obvious media interest.

"A misleading and inaccurate statement, specifically in relation to the sums of money involved, was wrongly issued to AP this week.

"The financial details of the settlement will remain private, save tosay that both of us are happy with our agreement."

The couple said that their main concern was now "the care and wellbeing of our children”.

The statement is the first time the couple have spoken about their divorce, which was made official last month.

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

(by Jason Gregory)