Princess Diana’s younger brother, Charles Earl Spencer has said that he is planning to close down a museum he opened to honour the Britain’s famous princess.

Reports suggests that Spencer is planning to close down the museum that is located at their family home at Althorp next year and handover the objects to Prince William and Prince Harry, his two nephews. Spencer had opened the museum in 1998 after the princess was killed in a car crash in 1997. Diana: A Celebration has been on exhibit in Northamptonshire at Althorp for years.

“It will close worldwide in August 2014. It has been admired by thousands of people around the world, and has been a wonderfully tasteful celebration of the late Diana, Princess of Wales' life and achievements - particularly her charitable works and her glamour,” a spokesperson said.

The articles of the museum include 28 of Diana's dresses, two tiaras and other priceless family jewels as well as pictures and letters and home movies. He pointed out that he is honouring his sister’s wishes by handing over the objects. It is believed that Diana had apparently said that her belongings were to be “looked after” by Lord Spencer until both of her sons turned 30.