Duchess of York solves money problems with multi-million pound TV deal

Sarah Ferguson aka Fergie is set to pocket millions from a deal to turn her children's books into a cartoon series.

The Duchess of York, feared to be on the brink of bankruptcy, will pick up a big advance after selling the TV and merchandising rights to her best-selling kids' books Tea For Ruby and Little Red.

The book rights have been snapped up by Handmade - the film company set up by the late former Beatle George Harrison.

Newly launched studio Handmade Kids will turn Tea For Ruby and Little Red into cartoon series in the US and Canada.

"I'm pleased the books will be developed by what will be a leading kids' entertainment firm," the Sun quoted Fergie, a non-executive director on the board, as saying.

Handmade, who also signed Fergie for a National Geographic series on great women explorers, is planning to raise 17 million pounds to finance the deals.

The Duchess will pocket a 'substantial' sum from the deal and she could earn a fortune from merchandising in future.