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September 7, 2008 12:50:02 AM CDT

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$20M Payday May Await Bill Clinton

Posted Jan 22, 08 12:30 PM CST in Politics,  Business 

(Newser) – Hoping to insulate his wife’s presidential campaign from potential conflicts of interest, Bill Clinton is negotiating to untangle himself from a business relationship with billionaire Ron Burkle that includes a potentially sensitive link to Dubai, the Wall Street Journal reports. In the process, Clinton could earn a $20 million payout.

Clinton was an adviser to Burkle’s company, Yucaipa, from 2002 to 2007. His substantial paycheck helped pay legal bills left over from his presidency. A profit-sharing provision in the deal kicked in when two domestic funds exceeded earnings thresholds recently, earning Clinton millions. He also wants out of Yucaipa Global Partnership Fund, in which he and Burkle are partners along with an entity linked to Dubai’s ruler, Sheikh Mohammed bin Rashid al-Maktoum.

Source Wall Street Journal

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Former President Bill Clinton, center, and his daughter Chelsea, left, greet employees as they tour the Caesars Palace hotel and casino in Las Vegas, Thursday, Jan. 17, 2008. (AP Photo/Jae C. Hong)   (Associated Press)
Former President Bill Clinton speaks during Martin Luther King Jr., birthday service Ebenzer Baptist Church Monday, Jan. 21, 2008 in Atlanta. (AP Photo/John Bazemore)   (Associated Press)
Former President Bill Clinton speaks with campaign workers about the upcoming New York primary election for his wife, Hillary Rodham Clinton, during a rally in Buffalo, N.Y. on Sunday, Jan. 20, 2008....   (Associated Press)
Pittsburgh Penguins co-owner, Ron Burkle.   (Associated Press)
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