One Direction Sign A New Record Deal With Simon Cowell’s Label Syco

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One Direction have inked a massive new deal with Simon Cowell and his SYCO company which will see them landing huge payouts for the next three years, as long as they adhere to all his conditions.

The band have agreed to release another three albums with Simon Cowell, which will land them a cool £10 million and the contract runs from after their third record Midnight Memories is released and ties them in until 2016.

There have been in depth negotiations going on behind the scenes for most of 2013 it’s bee claimed but the terms have now been agreed and it’s said that the fab fivesome have agreed to release three albums after their forthcoming record, which will include two more studio projects and then a greatest hits compilation.

The stars are currently wrapping up their Take Me Home tour in Australia and have already announced their Where We Are stadium tour for 2014. It’s said that there will be more tours on the cards for the stars after that.

“The boys, Simon and their team have already started planning for their fourth album, even though the third isn’t out yet.”

The £10 million will only be the start of their earnings too, as the band will also rake in the case from their tours, merchandise, appearances and maybe even another movie.

“It’s worth a lot of cash too. They’ll get a big upfront payment worth millions then much more from record sales, tours, brand tie-ins and merchandise.”

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Last night a Syco spokesman confirmed: “Simon Cowell and One Direction are delighted to confirm they have agreed to continue their hugely successful relationship with a new long-term agreement with Syco.

“Simon and the band look forward to many years of continued success together.”

Simon cryptically tweeted his fans this week about some other projects he has planned, and about loyalty between him and his artists. He said:

“Loyalty is still alive in the music industry. Expect a release this week and some other news.”

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