Parents: 'Britney would've gone bankrupt'

Britney Spears would have been bankrupt within four years if her father had not taken control of her finances, her parents have said.

The singer had spent $60 million of her $100 million fortune when dad Jamie was granted temporary conservatorship at the beginning of February.

Lynne and Jamie Spears are now in "crisis talks" with their daughter over her financial affairs, reports the Daily Star.

A business associate is quoted as saying: "She was very wide-eyed and attentive but she's as addicted to buying houses and new Mercedes as she is to the attention of the paparazzi.

"There was a moment when her mother said she could be out of money within four years and her children would still be in primary school. That was when she really sat up and took notice."

According to Life & Style, Britney now receives $60 a day and has to make a "special case" if she wants a larger sum.

A source said: "When Britney gets better, she’ll need her money, and Jamie wants her to have it."