Adele to sign a €116 million record deal - report
Adele is reportedly set to sign a €116 million record deal with Sony Music.
The Rolling in the Deep singer is reportedly about to close a deal to move from her current label XL Recordings to Sony Music, and the staggering contract will bring her fortune to €226 million (£175 million), according to Britain's The Sun newspaper.
“We have secured the biggest music star in a generation. This is massive," a source told the publication. “Adele’s deal with her original label XL expired and we’d an existing relationship with her in America...
“The deal is being worked on by our Columbia label in the US, but is worth £90million and gives Sony the rights to release her future music exclusively around the world.”
The contract will reportedly be the most lucrative contract given to a British artist, topping the €103 million (£80 million) British pop star Robbie Williams was paid to move to EMI in 2002. It will also be the largest ever deal handed to a female musician, with the previous leader being the late Whitney Houston, who was given €90 million (£70 million) by Arista in 2001.
Adele, who was already named Britain's richest female musician in the 2016 Sunday Times Rich List, with an estimated €109 million (£85 million) fortune, earlier this year (16), has her manager Jonathan Dickens to thank for the new deal.
"Jonathan's been putting it together for a couple of years. He was very aware of her worth in the market and stood firm to push for the £90 million," the music source added.
The news comes after the 28-year-old scored five prizes at the Billboard Music Awards on Sunday night (22May16), for Top Artist, Top Female Artist, Top Selling Song (Hello), Top Billboard 200 Artist, and Top Billboard 200 Album for 25.
She didn't attend the Las Vegas show in person as she is currently on tour, but she sent in video acceptance speeches to thank her fans.
- Cover Media