Madonna has denied that she paid ex-husband Guy Ritchie a multimillion dollar settlement to secure a divorce – insisting a statement issued on her behalf earlier this week was “inaccurate.”

On Monday, Liz Rosenberg, the Material Girl’s longtime spokeswoman, issued a statement to the Associated Press confirming that the singer had reached a settlement with the director for between $50 million and $60 million.

Not true, says the divorced pair.

“We have tried to maintain a dignified silence regarding the details of our divorce for the last few months whilst accepting the obvious media interest….A misleading and inaccurate statement, specifically in relation to the sums of money involved, was wrongly issued to AP this week.”

“The financial details of the settlement will remain private, save to say that both of us are happy with our agreement. Our primary concern, like any co-parents, is the care and well being of our children.”