King Charles III has reportedly considered restructuring the British monarchy for quite some time.
Charles, 73, was Queen Elizabeth II's eldest son, and following her death on Thursday, he immediately became king.
Although the Queen remained monarch until her death, the king had begun taking on additional responsibilities in recent years as the 96-year-old monarch slowed down, The Mirror reported.
One of his responsibilities may have included "slimming down" the monarchy, The Telegraph and Tatler previously reported.
The line of succession on the royal family's website shows the 22 highest-ranking members of the royal family. The king plans to reduce the monarchy to a team of just seven key members, all senior working royals, according to the publications.
There could be several reasons for this, including the royal family's reputation, according to The Times.
The publication reported that the various royal press offices "are left to operate in their 'own silos,' regardless of the impact on the institution," making it more difficult to effectively deal with PR scandals.
Another possible reason could be financial. Reducing the number of royals who undertake official duties would also mean reducing who is funded by the sovereign grant, the public funds used to support them, The Times reports.
The royal family could face an estimated $44.5 million shortfall due to the impact of the pandemic, Forbes reported in September 2020. However, the royals have "no intention of asking for extra funding," the Queen's financial officer Sir Michael Stevens said in a statement at the time.
Plans are yet to be officially confirmed. If the reports are true, the British monarchy wouldn't be the first to restructure in this way.
The original lineup reportedly included Prince Harry and Prince Philip
Royal commentator Kinsey Schofield told Insider that the original lineup included the late Prince Philip before his retirement in 2017 and Prince Harry before his resignation in 2020.
"We saw our first glimpse of the new firm over the Christmas holiday 2020," Schofield told Insider.
As Insider previously reported, "the firm" is a common term used to describe the institution as a family business.
According to Schofield, the new, slimmed-down firm could include King Charles III and Queen Consort Camilla; Prince Edward and Sophie, Countess of Wessex; The Duke and Duchess of Cornwall and Cambridge; and Anne, Princess Royal.
"While these are all individuals that will be out in the future representing the crown, I think Charles will try to draw attention to himself, Camilla, and the Cambridge family as the future of the monarchy," Schofield said.
King Charles could be taking inspiration from the King of Sweden
One thing the king will have to consider is the next generation of royals, and which members should be included in the "new firm."
Prince William, the heir to the throne, and Kate Middleton's children are high in rank, despite their young ages.
Prince George, 9, is second in line to the throne and Britain's future king. Princess Charlotte, 7 — "the spare" — is third in line and Prince Louis, 4, is fourth in line to the throne.
Meghan Markle and Prince Harry's son, Archie Harrison, 3, is sixth in line to the throne, and their daughter, Lilibet Diana, 1, is seventh. However, they do not currently have HRH status, though that could change in light of the Queen's death.
Charles could follow in the footsteps of Sweden's King Carl Gustaf, who in 2019 stripped almost all of his grandchildren of their HRH titles, with the exception of the future "heir and spare" to the throne.
The king of Sweden's eldest child Crown Princess Victoria has two children: Princess Estelle, age 10, and Prince Oscar, age 6. Estelle and Oscar will grow up to be working members of the royal family with titles, unlike their cousins, who will likely have to get jobs outside of the monarchy.
An ancient decree written in 1917 by Queen Elizabeth II's grandfather, George V, states that only the children and great-grandchildren on the direct male line of the British monarch will gain official royal titles.
This means that Archie and Lilibet could be eligible to receive titles now that the King has taken the throne — but he could choose not to do this in keeping with the "slimmed down" version of the monarchy.
Buckingham Palace and Clarence House did not immediately respond to Insider's request for comment.
