Mathew and Tina Knowles poses with their daughter Beyonce

It has been confirmed Beyonce’s parents are getting a divorce!

Mathew and Tina Knowles broke their silence on the issue over the weekend confirming that they were heading for a divorce. The reports allege that stylist Tina Knowles had filed papers in a Harris County, Texas court in November to put an end to the 29-years marriage.

This divorce could have some interesting legal and financial implications, given that the family is estimated to possess a fortune of over $100 million dollars. Usually when that much money is involved, the break-ups are always interesting.

But we might be disappointed as Mathew and Tina have released a joint statement saying:

“The decision to end our marriage is an amicable one. We remain friends, parents, and business partners. If anyone is expecting an ugly messy fight, they will be sadly disappointed. We ask for your respect of our privacy as we handle this matter.”

Allegations are that the split comes weeks after Beyonce’s manager and father was hit with a paternity lawsuit from Los Angeles resident Alexsandra Wright, who claims Mathew Knowles is the father of her unborn child, which is due in spring 2010.