Simon Cowell cuts ties with former friend and ‘toxic’ tycoon Sir Philip Green

Simon Cowell is said to be relieved after cutting all ties with Sir Philip Green.

The X Factor judge is believed to have spent £10million buying out the tycoon’s 5% shareholding in his company Syco.

One friend of Cowell, 59, said he had considered any link with the high street billionaire to be “toxic”. The source added: “Simon is relieved it’s all over between the two of them.

“It’s taken a while to sort out but he is glad he can finally draw a line under the whole business.”

The share buyout is understood to have been brokered by Baroness Karren Brady.

She is chairman of Taveta, the holding company of Green’s Arcadia retail empire, which includes Topshop, Burton and Dorothy Perkins.

Green, 66, has been accused by ex-staff of bullying, sexual ­harassment and racism.

He sought gagging orders to stop the press from naming him over the allegations. But his friendship with Cowell is said to have broken down at about the time of BHS’s collapse in 2016.

Green had sold the chain for £1 the previous year to investors with no retail experience.

Its demise left 11,000 people jobless and a £571million hole in the pension pot. The scandal also led to calls for Green to be stripped of his knighthood.

Cowell, who has holidayed with Green as well as worked with him, lost respect for his former friend. Green had rejected previous offers from Cowell for the shares.

Our source said: “Philip has finally realised that his relationship with Simon is over.

“He’s hung on for the last couple of years but, in the end, decided there was no point keeping hold of his shares.”

Cowell declined to comment.

Green said in a statement: “To the extent that it is suggested that I have been guilty of unlawful sexual or racist behaviour, I categorically and wholly deny these allegations.”

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