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Ronnie Wood is said to have put offered a £3m-a-year divorce deal to his estranged wife.
The Rolling Stones star left Jo for Russian waitress Ekaterina Ivanova, 20, earlier this year.
Now Ronnie is thought to have made a £250,000-a-month offer to his wife of 23 years.
The 61-year-old, who has a £70 million fortune, has also agreed to hand over a multi-million pound lump sum.
‘Ronnie feels the marriage is over but he wants to do the right thing by Jo,’ a source tells the News Of The World.
Meanwhile, Jo, 53, has admitted she misses her husband.
‘Lately, I’ve been dreaming of Ronnie,’ she tells the Sunday Mirror. ‘I miss his presence in the home.’