Britney Spears Agrees to Sole Custody for Kevin Federline

Mark Vincent Kaplan said tonight that Britney Spears and Kevin Federline have reached a settlement in their custody case.

According to the agreement signed by all parties, Federline gets sole legal and physical custody of sons Sean Preston and Jayden James, and Spears will have visitation rights. Kaplan said:

"The case has been settled. The court still has to approve it."

"As of this evening there is a fully executed deal memo. All the issues that would have been addressed at trial have been settled. Can’t speak to the exact terms of the deal. Orders in place will stay in place."

"Kevin was not [out] to get custody. Kevins goal was to set up some kind of template so the mother of his children can co-parent. He said I need to have Britney to be involved in the coparenting of the kids, but I need there to be a structure."

"Nobody could have anticipated the terms of events that have occurred. This was a two-year journey that will be halted at a point that is good for these children. Custody is always modifiable. If there is a final order, it means there is nothing to try." [As in no need for a divorce trial.]

Both parties are due in court Friday morning to get the court’s stamp of approval for the deal.

At the end of the month the court will determine if the conservatorship, managed by Britney’s father Jamie Spears, will end or become permanent. Speaking to that issue Kaplan said:

"While I can’t tell you the terms, the order does anticipate what happens if the conservatorship is ended. The devil is always in the details and this is a very detailed deal memo."

"Nobody can predict what the future will bring, but to the extent possible I think we have really anticipated how to proceed."

This seems like it turned out in the best interest of the children. Despite all the criticism, it turned out that K-Fed was a better dad than Britney was a mom, and that’s not saying much.

Kevin Federline Named Father of the Year

Kevin Federline was named father of the year by Las Vegas club Prive just in time for Father’s Day. Kevin will host a party at Prive on June 13. Details magazine also named Federline father of the year in November 2007.

Do something special for your Father on Father’s Day.

Kevin Federline Turns 30

Kevin Federline turned 30 years-old, and celebrated in Las Vegas. Not a lot of stars came out to celebrate with him, but Shar Jackson did. Kevin gave a speech to the crowd, and they booed him. Maybe it was because it was hard to understand anything he was saying.

Kevin Federline and Jamie Spears Become Business Partners

Kevin Federline and Jamie Spears are getting into the restaurant business together. A source said:

“K-Fed wants to take over a Mexican place in LA with him and Jamie as managers. The restaurant, called Casa Cordobes, has been a favorite of Kevin’s for a while. He ate there with Britney. Now the owner wants to retire, and K-Fed really wants to run it. Kevin and Jamie get along well nowadays and Jamie is keen to get back into the restaurant game.”

It seems like a conflict of interest that Jamie and Kevin would partner in this venture using Britney Spears money, all while the divorce hasn’t been settled yet.

Kevin Federline Has a Big Pay Day

Kevin Federline will be paid $175,000 to host his own 30th birthday party at Pure nightclub in Las Vegas on March 21. At least he’s making some of his own money, even though he’s claiming he’s poor in court.