Missing: But the parents of Madeleine McCann are paying to keep their daughter in the public eye

Losses: Brian Kennedy has stopped paying for the Madeleine McCann media campaign

The multi-millionaire tycoon backing Kate and Gerry McCann in their search for their daughter has cut back his financial support after losing an estimated £50million from his fortune.

Brian Kennedy, who pledged to support the McCanns until Madeleine was found, has stopped paying for the couple’s media campaign after the credit crunch hit his business interests.
 

The Madeleine Fund – which is down to £500,000 and expected to be empty by the end of the year – is now paying for the media relations work of former BBC reporter Clarence Mitchell, although at a reduced rate.

The McCanns continue to regard a high-profile campaign as a crucial part of their efforts to find Madeleine, who went missing two years ago from her parents’ holiday apartment at Praia da Luz in Portugal.
 

But a source said Mr Kennedy, 49, who made his fortune in home improvements, had stopped paying the team promoting the McCanns’ investigation as part of a ‘costs-cutting exercise’.
 

Mr Kennedy saw his fortune dwindle from £350million to £300million over the past year, according to a newspaper Rich List.

However, he is still reportedly the joint 178th richest man in the UK through his company Latium, which owns Sale Rugby Club and Everest Double Glazing.
 

The source said: ‘Mr Kennedy was paying for reputation protection for Mr and Mrs McCann. So when their arguido, or official suspect status, was removed by the Portuguese police, he believed there was no further need to pay Mitchell’s costs.

‘Of course, it was also a way to cut costs given the state of the economy. The fund are paying a reduced rate for Mitchell to deal with the continuing Press attention.’

But the source added: ‘Kennedy continues to talk to Kate and Gerry and his lawyer is involved in the latest legal action against the former Portuguese detective Goncalo Amaral. His wallet is there if needs be.

'This does not represent a scaling down. For example, his company funds the offices from which the investigators are working.’

The Madeleine Fund amassed over £1million in the first few months of the then three-year-old’s disappearance after an unprecedented public reaction.
 

However, it was immersed in controversy after it was revealed that money from the fund had covered two mortgage payments on the McCanns’ home.

The fund was also drawn upon heavily by private detective agencies hired by the McCanns and Mr Kennedy, including an American firm, which charged £500,000 for six months work.

It was replenished by defamation action against British media organisations. And this newspaper can reveal that the defamation case against Mr Amaral is expected to reap the McCanns a six-figure compensation fee.
 

But the couple and Mr Mitchell face the possibility that Mr Amaral, who was removed from the Portuguese police investigation for criticising the British police involved, will launch a legal action against them for defamation.

Campaign: The media force behind Kate and Gerry McCann to find Madeleine has even seen them interviewed on the Oprah Winfrey show

He claims to have launched his own private inquiry into Madeleine’s disappearance and warned he intended to call a string of witnesses to court to show his reputation had been stained.

Detectives working for the McCanns are still hoping to interview convicted paedophile Raymond Hewlett, who lives in Germany.

On Thursday he was interviewed in Aachen police station by two detectives from West Yorkshire over two offences in the Seventies.

Last night Brian Kennedy’s lawyer, Ed Smethurst, confirmed Mr Kennedy and Latium were no longer paying Mr Mitchell’s salary directly, but added: ‘They remain fully supportive of Kate and Gerry McCann and the search for their daughter.

Search: Gerry McCann has never given up hope that they will find Madeleine

There are missing children the world over. The McCanns should never have been singled out for being the most deserving of help. How unutterably cruel to other parents who have missing children.

- Beeper, Rothley, 7/6/2009 9:50

Click to rate     Rating   337

Report abuse

He was paying to protect the reputation of Gerry and Kate McCann? How strange - I thought like most people this was all about finding their daughter!

- heard it all, sheffield, 7/6/2009 9:27

Click to rate     Rating   355

Report abuse

Keep up the good work, I pray for her safe return.

- Elizabeth, Houston, Texas USA, 7/6/2009 9:04

Click to rate     Rating   105

Report abuse

So now the fund is paying Clarence Mitchell. Why do they need a media spokesman now? it appears that Gerry and Kate McCann are quiet able to speak for themselves.

The money that people, including myself, donated to the fund, did so to help find Maddie not to pay the likes of Clarence Mitchell.

How many more peoples "wages" are being paid for out of the fund? I didn't even know that Kate and Gerry McCann were Directors until reading it the other day.

This is one person who will never give to any such fund again.

- N Williams, UK, 7/6/2009 8:26

Click to rate     Rating   332

Report abuse

So ever since the arguido status was lifted, the find Madeleine fund has been paying for PR, "reputation protection" for her parents? I'm very sorry but I don't think that this is what donors to the fund had in mind. Schools have been encouraging children to donate, and to fundraise. But this should be to look for Madeleine, not pay for a PR spokesman.

- Liz, Glasgow, 7/6/2009 7:48

Click to rate     Rating   334

Report abuse

Isn't it sad that the search for a missing child / person always comes down to money in the end. I agree that a high profile media campaign is the best hope of finding Madeleine as has been shown by the information gleaned from the public after a TV or newspaper special. As we all know, someone somewhere knows something and it is getting that person to realise that they have a vital piece of info that will realise sucess.

- jacci, cape town, 7/6/2009 7:29

Click to rate     Rating   140

Report abuse

Hundreds of children go missing every year and its good old fashioned and dedicated police work that finds out what has happened to them, if they do find out. Most of the parents didnt have the means to pay for things like "media relations" or maintain a "high profile". So the presence or absence of the fund is not going to get us any nearer to finding out what happened to Madeleine, and in fact has got nowhere so far.

- Sarah, London, UK, 7/6/2009 4:36

Click to rate     Rating   165

Report abuse

It's been a month so I guess it's time for another Maddie story to be planted in the media.

- Dr Stephen Fox, Sydney Australia, 7/6/2009 4:01

Click to rate     Rating   197

Report abuse

There are thousands of children missing every year in the world. Each case also deserves media attention and requires funding to help. The McCanns must accept responsibility that they made a mistake by leaving their children home alone. They should not use other people's kindness and money and the media to reduce their own guilt. They have other children to look after and should move on with their life.

- Alison, KL, Malaysia, 7/6/2009 3:28

Click to rate     Rating   164

Report abuse

SO SAD WHEN EVERY THING HAS TO COME DOWN TO MONEY.
I HOPE THEY FIND MADDIE ,AND SOON

- Irene, ireland, 7/6/2009 3:14

Click to rate     Rating   116

Report abuse

I still hope she is released unharmed by her captor someday.

- Sara, Greenfield, United States, 7/6/2009 1:51

Click to rate     Rating   116

Report abuse

This man cannot support the Maccanns and their reputatation for ever They have had too much protection from others. The focus should be on Madelaine and her alone not her parents public image. Ameral has every right to defend his public Image and that of the portugese people.

- olivia, Lancs, 7/6/2009 1:49

Click to rate     Rating   210

Report abuse

oh dear,their must feel that she's alife.it's been long time now,just keep memorries and faith that one day she'll turn up alive and well.

- jane, liverpool, 7/6/2009 1:49