MUMBAI: After Madonna and Jay Z, latin songstress Shakira is all set to sign $60 million contract with US concert promoter Live Nation and record label Sony music for the next three albums.

The contract will allow two companies to split sale profits, as reported by US daily. Sony will act as the distributor, while Live Nation will receive a cut of the revenue from merchandise, sponsorships, recorded music and touring.

Earlier in 2008, Shakira left Sony’s Epic label to sign a 10-year contract estimated between $70 million and $100 million.

The diva has recently released the latest music video of the single ‘Addicted to You’ from her seventh studio album ‘Sale el Sol’ which was released in 2010. She is expected to release a new album this year.

Last year in December, Live Nation signed a $30 million contract with Universal Music Group to distribute Madonna’s most recent album ‘MDNA’.