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Queen Margrethe's shocking abdication announcement has left many royal watchers wondering if something is rotten in the state of Denmark.

On New Year’s Eve, the 83-year-old announced that she planned to step down after 52 years and hand over the throne to her son, Crown Prince Frederik.

The decision came months after a Spanish socialite denied rumors that she was having an affair with the future king, 55, while his wife was traveling overseas.

DENMARK'S QUEEN MARGRETHE II MAKES FINAL PUBLIC APPEARANCE BEFORE STEPPING DOWN FROM THRONE

Queen Margrethe wearing a purple dress and sitting in front of her desk

Queen Margrethe II gives a New Year's speech in Copenhagen, Denmark, on Dec. 31, 2023, announcing her upcoming abdication. (Keld Navntoft/Ritzau Scanpix/AFP)

"These rumors, of course, were neither verified nor denied by the Danish royal family, but the timing of this announcement by Queen Margrethe was mighty suspicious," royals expert Hilary Fordwich told Fox News Digital. "… Additionally, Queen Margrethe denied any intention of an abdication as recently as [a year prior]."

In November, several Spanish outlets published photos of Frederik with Genoveva Casanova, a model and philanthropist, during a private trip to Madrid.

During the outing, which took place in late October, the pair toured a Picasso exhibit at the Thyssen-Bornemisza National Museum. They also walked through a park and had dinner together.

Princess Mary and Prince Frederik standing shoulder to shoulder and facing away from each other

Crown Princess Mary and Crown Prince Frederik of Denmark attempted to put on a brave face following the gossip. (Carlos Alvarez/Getty Images)

According to Hola! Magazine, a mutual friend was originally supposed to accompany the prince during his visit to Madrid but got sick, reportedly with COVID. The friend then asked Casanova, a known expert in Picasso art, to step in on their behalf and host the royal. The outlet noted that the pair appeared "normally" while out in public and didn’t use sunglasses, scarves or hats to hide their identities.

Rumors of a fling were intensified by tabloids, which prompted Casanova to speak out. The 47-year-old didn’t immediately respond to Fox News Digital’s request for comment at the time. A spokesperson for the Royal House of Denmark told Fox News Digital: "We do not comment on rumors and insinuations."

The TV personality told Hola! that she won't tolerate the spread of malicious gossip.

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A close-up of geneveva casanova wearing a fur coat and surrounded by flowers

Genoveva Casanova said she wouldn't tolerate malicious rumors. (Juan Naharro Gimenez/WireImage)

"I flatly deny the statements that suggest a romantic relationship between Prince Frederik and me," Casanova told the outlet. "Any statement of this type is not only completely untrue but also distorts the facts in a malicious manner."

"This is already in the hands of my lawyers, who will take care of the pertinent steps to protect my right to honor, truth and privacy," she added.

Danish news site Dagens.com noted that Frederik’s trip to Madrid occurred while his wife was in New York for United Nations Day.

Crown Prince Frederik and Crown Princess Mary walking near a line of military guards

The crown prince will become King Frederik X of Denmark, while Australian-born Crown Princess Mary will be queen. (Mads Claus Rasmussen/Ritzau Scanpix/AFP)

Casanova was born in Mexico but is based in Spain, the outlet reported. She was married to equestrian Cayetano Martínez, the current Count of Salvatierra and Duke of Arjona, from 2005 to 2007.

Frederik and Princess Mary celebrated 19 years of marriage in May. The pair met in 2000 in Australia while the prince was visiting for the Summer Olympics in Sydney. The former Mary Donaldson, an advertising executive, became smitten with "Fred" at a local bar, not realizing she was speaking with the heir to the 1,000-year-old Danish throne, People magazine reported.

The couple had a long-distance courtship before getting engaged in 2004. The couple said "I do" that year. They are parents to four children.

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Princess Mary kissing Prince Frederik on their wedding day

Danish Crown Prince Frederik and his bride, Princess Mary, kiss as the royal couple appear after their wedding on May 14, 2004, in Copenhagen, Denmark. (Ian Waldie/Getty Images)

"Similar to Britain’s Kate Middleton, Princess Mary has endeared herself to the public," Fordwich explained. "Like Kate, it can be credited to her down-to-earth upbringing. Both have their respective families and support to ground them in assuming their daunting tasks. Both have a resulting spine of steal."

Royal expert Shannon Felton Spence told Fox News Digital that the signs of the queen’s abdication were already there.

"Not too long ago, the queen tightened the line of succession by removing the titles of her younger son’s children," Felton Spence explained. "To me, that was the first sign that an abdication was imminent. This was long before the affair scandal. Slimming down the monarchy is a move toward the future… The timing of an alleged affair was just bad luck. Do I think the decision was made in haste? No. All signals point that it was in the works for the near future."

Queen Margrethe holding her chest and wearing an aqua blouse

Queen Margrethe said it was health reasons that compelled her to step down. (Julian Parker/UK Press)

In March 2023, the queen’s younger son, Prince Joachim, announced that he was moving to Washington, D.C. The 54-year-old had scored a new role at the Danish Embassy under the Ministry of Defense. He previously lived in France.

The announcement was significant as the queen previously revealed that she was stripping Joachim’s four children of their prince and princess titles. In early 2023, they became known as His/Her Excellency Count of Monpezat instead of His/Her Highness.

Joachim told Danish outlet B.T. that he hadn’t talked to his mother, his brother or his sister-in-law following the shocking news. He also claimed that the monarchy "unfortunately" had not connected with them since the announcement of the title changes.

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Prince Joachim of Denmark with his family outside posing for cameras

Prince Joachim is seen here with his family in Copenhagen, circa 2022. (Mads Claus Rasmussen/Ritzau Scanpix/AFP)

"It’s also family. Or whatever we want to call it," he said.

Joachim is sixth in line to the Danish throne. His children will maintain their places in the order of succession, which is currently seventh through 10th.

"With her decision, Her Majesty The Queen wishes to create the framework for the four grandchildren to be able to shape their own lives to a much greater extent without being limited by the special considerations and duties that a formal affiliation with the Royal House of Denmark as an institution involves," the palace previously said in the statement.

Prince Joachim smiling alongside Prince Harry

Prince Joachim is seen here with Britain's Prince Harry. The Duke of Sussex resides in California with his wife Meghan Markle. (Chris Jackson - WPA Pool/Getty Images)

It is believed the change was made to streamline the monarchy’s future. However, Joachim argued that family should come first.

"The reality must still be: Whether you modernize or slim down, it must be done in a proper way," he told the outlet. "It’s about children. Orderliness and children. It is a very heavy matter."

The queen apologized for upsetting members of her family with the decision. However, she refused to change her mind.

PRINCE CHRISTIAN OF DENMARK DECLINES ROYAL PENSION HE WAS EXPECTED TO RECEIVE ON 18TH BIRTHDAY

Prince Joachim and Princess Marie of Denmark arrive at the gala banquet at Christiansborg Palace

Prince Joachim and Princess Marie of Denmark arrive at the gala banquet at Christiansborg Palace on Sept. 11, 2022, during celebrations to mark the 50th anniversary of the Queen of Denmark's accession to the throne. (Mads Claus Rasmussen/Ritzau Scanpix/AFP)

"It is my duty and my desire as queen to ensure that the monarchy always shapes itself in keeping with the times. Sometimes, this means that difficult decisions must be made, and it will always be difficult to find the right moment," she said in a statement.

"This adjustment... I view as a necessary future-proofing of the monarchy... I have made my decision as queen, mother and grandmother. But, as a mother and grandmother, I have underestimated the extent to which my younger son and his family feel affected. That makes a big impression, and for that I am sorry."

The Danish royal family

Queen Margrethe is the mother of two sons. (Patrick van Katwijk/Getty Images)

"It’s never fun to see your children being mistreated like that," Joachim told Ekstra Bladet daily in Paris. "They… find themselves in a situation they do not understand."

When asked how the decision had affected his relationship with his mother, Joachim replied, "I don’t think I need to elaborate here."

Joachim had remained silent following his mother’s latest announcement.

DENMARK'S QUEEN MARGRETHE II ANNOUNCES SHE'S STEPPING DOWN FROM THRONE: 'NOW IS THE RIGHT TIME'

Queen Margrethe escorted

Queen Margrethe rides in a horse-drawn coach from Christian IX's Palace, Amalienborg to Christiansborg Palace in Copenhagen, Denmark, Thursday Jan. 4, 2024. (Emil Nicolai Helms/Ritzau Scanpix via AP)

"It’s not unusual for European monarchs to abdicate in favor of their middle-aged children," said Felton Spence. "With Queen Elizabeth II of the U.K. gone, I think we will see a turnover across Europe’s aging monarchs in the coming years. Watch for Sweden and Norway."

Margrethe said the back surgery she underwent in early 2023 led to "thoughts about the future" and when to pass on the responsibilities of the crown to her son.

"I have decided that now is the right time," she said in her speech.

The Associated Press contributed to this report.