One Direction have signed a £10 million megadeal.
The band will release another three albums for Simon Cowell's record label Syco between now and 2016.
Two of the albums will be studio work and the third will be a greatest hits compilation.
Harry Styles, Liam Payne, Zayn Malik, Niall Horan and Louis Tomlinson were locked in talks for most of the year, but an agreement has finally been made.
'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,' a label spokesman confirmed to British newspaper The Sun. 'Simon and the band look forward to many years of continued success together.'
The contract will only be valid after the release of Midnight Memories, One Direction's third album due out in November.
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