Shakira, who is already one of the highest-earning stars in the music industry, is set to sign a $60 million three-album deal with Sony Records.
According to the New York Post, the Colombian singer and concert promoter Live Nation are expected to sign on the dotted line for a three-album deal with Sony, the Daily Mail reported.
The Hips Don’t Lie hitmaker left Sony in 2008 to sign a 10-year deal with Live Nation, estimated to be worth between $70 million and $100 million.
But this new deal will see both companies work alongside each other on her future projects and take a 50 percent cut.
Shakira, 35, is about to release her eighth studio album having teamed up with dance producer DJ Afrojack and last week she released the video for her latest single Addicted To You.