Rod Stewart's estranged wife Rachel Hunter has slammed her ex-husband's upcoming marriage with Penny Lancaster, hinting that the catwalk stunner is likely to be willing to tie the knot because of Rod's money. The 60 year-old rocker popped the question to his longtime girlfriend Lancaster during their romantic trip to Paris' Eiffel Tower, but only a day after the news broke into press, Rachel Hunter suggested Lancaster may be accepting Rod Stewart's proposal for financial reasons.

"I used to think marriage was so beautiful, but right now, it's just one big ugly contract,”  the 36-year-old mother of two told the Houston Chronicle.    

 It is all about money, what people can get, and it has very little to do with church and vows. That is not me being angry, because I had a great marriage.

"The contract between Rod and me wasn't important, because I didn't take anything.

"But if you are truly in love with someone, why get that piece of paper from the government?"

But according to Lancaster's rep, it was hard not to accept Rod Stewart's proposal delivered in an old fashioned romantic way. The singer went down on one knee and told Lancaster "I love you - will you marry me?” before giving her what she described to be  “the most amazing princess cut diamond engagement ring - classic and striking.” Steward has also having asked the permission of the model's father first.     

Hunter, who will be presenting the UK Channel Five reality show Make Me a Supermodel (Britain's equivalent of America's Next Top Model, judged by Tara Banks), is expected to demand as much as 100 million pounds from Rod Steward after their divorce is finalized.