Tabloid reports claim that the video lasts two hours and features the popstar naked. She allegedly wears a pink wig during the film, which is thought to have been shot during a holiday in Mexico.
Speaking about the rumoured video, Ghalib told Heat: "There is such a tape. But I won't discuss prices for hypothetical inquiries.
"Unless there is a locked-in deal, I will go no further. I am not interested in selling out any other details about Britney."
The paparazzo split from Spears in March after she allegedly discovered that he was having an affair.
> Click here for our thoughts on Britney's new single 'Womanizer'