Shakira is reportedly close to signing a new record deal worth up to $60m (€46m).
The 'Hips Don't Lie' hitmaker will continue to be one of the biggest earning stars in the music industry if she and concert promoter Live Nation put pen to paper on the three-album deal with Sony, which will see the two companies work together on her future projects.
Shakira is one of a handful of superstars, including Madonna and Jay-Z, who have ditched their record labels in recent years to sign huge contracts with Live Nation, who will get a cut of the revenue from merchandise, sponsorships and concerts, the New York Post reports.
The Colombian beauty previously left Sony to sign a 10-year deal with Live Nation, estimated to be worth between $70m and $100m, back in 2008.
Last month, the 'Addicted to You' singer took home four prizes at the Billboard Latin Music Awards - Female Songs Artist of the Year, Female Albums Artist of the Year, Solo Latin Pop Songs Artist of the Year, and Social Network Artist of the Year - and she recently teamed up with DJ Afrojack to work on new material.