Beckham signs £20m underwear deal

David Beckham is to model Armani underwear in a £20 million deal.

The footballer will promote the fashion house's 'Emporio SS08' range for three years until 2010.

His first advertising campaign, which he shot on Friday, will appear on billboards and in magazines in January.

The deal is thought to be part of a strategy by Beckham's management team to maximise his earnings as his playing career draws to close.

His sponsorship earnings have dropped for the second year running following his move to the US, a series of injuries and the end of his contracts with Gillette and Vodafone. However, he still has deals with Adidas, Pepsi, Motorola and perfume maker Coty, and pockets £500,000 a week to play for LA Galaxy.