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Adele signs $130 Million Contract with Sony

Adele is reportedly set to sign a $131 million (£90 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 $131 million contract will bring her fortune to $254 million (£175 million), according to Britain's The Sun newspaper. 

“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 source told the Sun.

The deal, reportedly negotiated by her manager Jonathan Dicken, has been in the works for a few years. “He was very aware of her worth in the market and stood firm to push for the £90million,” the Sun’s source reported.

Adele previously worked with music label XL Recordings, since her launch in September 2006. But the Sony source reported the XL has expired and Sony already had a working relationship with the singer to promote her music in the U.S.

The singer released her last album, 25, in 2015, which sold a record 3.38 million copies in its first week within the U.S. During Sunday’s Billboard Music Awards, Adele took home five trophies for the album, including Top Artist.