David Beckham is set to be given a knighthood in the New Year's Honors List.

The retired soccer and showbiz icon will become a "Sir" with final approval reportedly due later this month.

According to reports in The Sun on Sunday newspaper, his $260 million finances are being assessed - as is the norm before any knighthood. "HM Revenue and Customs look at the higher honors - specially at high earners like sports people - to see if there is anything they want to double check," a source said.

It is expected Britain's Prince William will perform the annual ceremony, which would be attended by David's wife Victoria, their daughter Harper, two, and their sons Brooklyn, 14, Romeo, 12, and eight-year-old Cruz.

It is said the former Manchester United and Real Madrid player's name was put forward after he ended his 20-year-old career earlier this year after he won the French soccer league with Paris Saint-Germain. However, his role as an ambassador for Britain and excessive charity work - along with the part he played in bringing the Olympics to London last summer - will also be honored.