Britney Spears almost went broke when Sam Lutfi was managing her career

OHMYGOSSIP — Britney Spears was on the verge of losing everything when Sam Lutfi was managing her career. Lutfi is currently embroiled in a legal battle with Spears’ parents, Jamie and Lynne Spears, claiming breach of contract, libel and defamation stemming from the time he managed their daughter — which included her public breakdown in 2008 — but insiders say he wasn’t the shrewd businessman who was trying to get her career back on track, as he claims.

“Britney was hemorrhaging money at the time when Sam Lutfi was in her life and acting as her manager,” a source said. “Her estimated net worth in 2007-2008 was $32 million dollars. However, she was spending about a whopping $700k a month.

“Britney also had huge legal bills because she was fighting her ex-husband, Kevin Federline, for custody of their two sons. She probably paid around $2 million dollars in attorneys’ fees to her family law attorneys in just a year and a half, and remember, she ended up losing custody of the boys to Kevin.

“Britney also leased several very high priced rental mansions in Malibu, including one house that she only spent three nights in.

“Britney wasn’t working during that time and didn’t have a source of new income coming in. At the rate she was spending money when Sam was in her life, had it continued without her dad getting conservatorship [in 2008], she would have been broke.”

Jury selection in the trial is currently taking place, and Sam, Lynne, Jamie and Britney’s fiance, Jason Trawick, are all scheduled to testify.