Yzabelle Bostyn
SINGER Enrique Iglesias is expecting a huge payday after selling the rights to his songs, name and image.
The Spanish star, 48, has made a deal with Influence Media Partners for a suspected nine-figure sum.
According to Bloomberg News, the deal includes all of his music to date alongside the rights to his name and image.
Iglesias follows the likes of Blake Shelton, Future and Logic, all of whom have also sold their rights to the company.
Although the actual figure has not been revealed, an anonymous expert has said it will be more than $100 million.
The company is backed by Warner Music Group and Blackrock Inc and led by media experts Lylette Pizarro, Lynn Hazan, Rene McLean and Jon Jashni.
The deal is a big win for the company as deals of this kind are rare due to high interest rates.
Iglesias’ longtime manager, Fernando Giaccardi, said: “We could have got more money if we wanted but we didn’t because we valued the relationship with Lylette more.
“It’s about how we help each other and position the music. Enrique was actively involved in the negotiation.”
The singer is currently on tour alongside international superstars Ricky Martin and Pitbull.
He is also reportedly preparing to release his next and final album in February next year entitled ‘Final Vol 2’.
The Spanish singer can also still perform his old songs and retains the rights to any new material he writes.
According to Lylette Pizarro: “His relationship with his fans won’t change. He’ll still have the same legacy.”
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