The Celebrity Big Brother winner reportedly rejected a £250,000 confidentiality deal that would ban him from talking about his 11-month marriage to the glamour model, deciding instead to pursue the six-figure sum as compensation for being "used" and "abused" during their relationship.
The Mirror quotes Reid as telling a friend: "I’ve been used, abused and treated like Jordan’s puppet - all because she can’t get over her last husband.
"I'm now doubting she ever loved me - it’s as if the whole marriage was a sham and a publicity stunt."
Meanwhile, a source insisted that Price would refuse to let Reid take a chunk of her £30 million fortune, as she considers herself to be solely responsible for his rise to fame.
"He’s saying that if she wants him to go then he wants a house and a business, which will cost around £1 million.
"Katie doesn’t want to give him money. She’s saying that without her he is nothing. He has a weekly magazine column and has appeared on a TV reality show, all on the back of her. She says he’s done well out of marrying her and made his money so he needs to sling his hook and think himself lucky. She just wants rid of him - and quick."
However, other insiders have claimed that the Page 3 icon still cares for Reid and has been genuinely damaged by their chaotic separation.
"She might come across as as hard as nails but this is hurting her," a source said. "The last thing she wants is a messy divorce like the one she’s only just put to rest with Peter [Andre]."
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