Camille Donatacci - the `Frasier` star`s third spouse, who filed for divorce in July after 14 years of marriage - is said to be unhappy with the offer as it does not include alimony or child support for their two kids Mason, nine, and six-year-old Jude.

A source told the New York Post newspaper: "She rejected an offer from Kelsey just before Christmas. He wasn`t offering child support or alimony, and told her through his lawyers that she`d get enough in the settlement.

"Because there is no prenup, Camille was certain she`d get up to $50 million, because she`s a partner in his TV company and entitled to half the money he made from shows, including `Frasier,` while they were married."

Though he is set to lose a chunk of his fortune to his former spouse, Kelsey, 55, has reportedly refused to draw up a prenuptial agreement between himself and his current partner, 29-year-old Kayte Walsh, who he is expected to tie the knot with as soon as his divorce from Camille is finalised.

A source told gossip website PopEater: "Kelsey is deeply in love with Kayte and can`t imagine spending the rest of his life with any other woman in the world. He knows she`s the one and wouldn`t insult her by asking her to sign a prenup even though his third divorce is going to cost him about $50 million.

"Kelsey doesn`t care about the money. He never has. This is about being happy. Finding someone who is your best friend. He doesn`t want to wait any longer."
sections: Celebrities