Coldplay Secure Massive New Deal With Universal

Posted on Aug 18th 2010 7:30AM by Barnaby Smith
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Dave M. Benett, Getty Images

Coldplay have signed a mammoth new deal with industry giants Universal Music Publishing that is reportedly one of the biggest in music history.

The Sun reports that while it has not been officially confirmed how long the deal is for and indeed how much money it is worth, the new contract is thought to be worth millions to each of Coldplay's four members.

Paul Connolly, president of Universal, said: "They've sold more than 50 million albums worldwide and their huge success is entirely deserved. We're obviously very proud."

Coldplay originally signed to BMG Music Publishing in 1999, who released their first album 'Parachutes'. Sony BMG were then swallowed up by Universal, making Universal the biggest players in the industry.

Coldplay's finances will hardly be affected then by the fact singer Chris Martin has begun a habit of losing money to staff members on high-stakes table tennis games, losing £1,000 in one showdown.

A source told The Sun: "Chris challenged a roadie to a big table-tennis game and lost out.

"But he went straight to the kitty and handed over the wedge. He's very generous like that."