The Spice Girls are reportedly gearing up for a $70 million (£50 million) payday after agreeing to a reunion.

The five-piece band will apparently come face-to-face at a business meeting in London on Friday (02Feb18) - the first time the whole group, Victoria Beckham, Emma Bunton, Geri Horner, Mel B and Mel C, have been in the same room since 2012.

According to Britain's The Sun newspaper, the girls' former manager Simon Fuller has organised the meet-up, and has promised Victoria that she won't have to sing. Instead, they will decide on television projects in China, a TV talent show, various endorsement deals and a compilation album of their greatest hits.

"This is the pop reunion no one thought would ever happen again," an insider told the newspaper. "But after a long period of negotiation Victoria agreed the time is right to work on new projects this year. It’s very exciting because she has always been adamant she wouldn’t go back.

"Victoria and Geri agreed it would be impossible to be part of a fully-fledged tour because of family and business commitments. Now that she’s a top designer Victoria is concerned about singing but she wants to make money to pump back into her business." The newspaper reports that the girls could stand to rake in $14 million (£10 million) each from from the reunion.

Victoria had initially found huge success with her fashion line, but her business, which was launched in 2008, made a loss of $11.9 million (£8.4 million) in 2017.

The Spice Girls first found fame when they released their debut single Wannabe in 1996, quickly rising in popularity to become the biggest-selling girl group ever. They split in 2000 but reunited for a tour in 2007/2008, which was cut short because of personal commitments.

They last performed together at the closing ceremony of the 2012 Olympics in London, and talk of further reunions have been rife since then.

Geri admitted in an interview last October that she had pushed for the girls to reunite, explaining: "I really pushed to get everyone back together. It got to the point where I had to let it go. I still love the girls and there are other bits and bobs in the pipeline."