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1D sign mega-bucks deal with Cowell
One Direction fans will have something to celebrate, after the group signed a new multi-million pound deal with Simon Cowell's record label, Syco.
The chart-topping boyband - Niall Horan, Zayn Malik, Liam Payne, Harry Styles and Louis Tomlinson - will continue making music until 2016 in the deal, estimated to be worth £10 million, reported Metro.
A Syco spokesman confirmed to The Sun: "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."
The group, who came third in The X Factor in 2010, are expected to make three more albums - two studio albums and a greatest hits collection - after their third record Midnight Memories, as well as further tours.
"This is a big deal for Simon and the lads. It shows confidence that they have a long-term future and that a split or members going solo is highly unlikely," a source said.
Midnight Memories will be released on November 25.
One Direction, who are currently touring around Australia, will hit the road for their Where We Are tour, with more European dates added for 2014.