Rapper Jay Z has reportedly resigned a lucrative touring deal with bosses at Live Nation.
The 10-year deal is reportedly worth $200 million, according to Billboard. Jay Z first teamed up with executives at the entertainment company in 2008, when he inked a $150 million deal which covered three albums and publishing. It also helped to launch Jay Z's Roc Nation company.
The old deal will continue, while the new agreement will focus solely on touring.
"Live Nation and I entered uncharted territory in 2008," a statement from the rapper reads. "Over nine years, we have traveled the world producing historic music experiences. (Live Nation president) Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation. For the next 10 years, we will continue redefining the live event landscape."
The news of the touring deal comes a week after the 99 Problems hitmaker announced plans to headline his Made in America festival later this year. The 47-year-old will return to the stage in September alongside co-headliners J. Cole and The Chainsmokers at the Benjamin Franklin Parkway in Philadelphia, Pennsylvania, where he launched the music event in 2012.
He will also headline The Meadows Music and Arts Festival in his native New York City following his gig at the Made in America Festival. Other performers include Run the Jewels, Nas, Future, TV on the Radio, Broken Social Scene, Erykah Badu, LL Cool J, Foster the People, De La Soul, Sleigh Bells, Big Boi, Migos, and M.I.A., among many others.
The Meadows Music and Arts Festival will also be streamed live on Jay Z's Tidal music service.