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Prince fans who have studied the Minneapolis legend’s discography know that his vaults run deep. Today, the prolific artist and Warner Bros. Records announced an agreement to unleash a series of unreleased tunes and the label will hand over the master recordings of Prince’s hits to the artist.

Prince, 55, is set to release his 25th album at a later date this year and has enjoyed one of the most devoted fan bases since his career kicked off in the late 1970s. The financial details of the deal with Prince and Warner Bros. Records but should be lucrative. Considering that with the aforementioned portions of the deal, there is also an exclusive global licensing partnership that extends their working relationship and covers a series of records released from 1978 into the 1990s.

From the press release:

Prince said, “A brand-new studio album is on the way and both Warner Bros. Records and Eye are quite pleased with the results of the negotiations and look forward to a fruitful working relationship.”

“Everyone at Warner Bros Records is delighted to be working with Prince once again: he is one of the world’s biggest stars and a truly unique talent” said Cameron Strang, Chairman & CEO, Warner Bros. Records. “We are also very excited about the release of new and re-mastered music from one of his greatest masterpieces.”

This summer also marks the 30th anniversary and of Prince’s popular album and film Purple Rain. A digitally remastered version of the album will be released in celebration.

Hit the jump to see the full size photo of the thumbnail.

Photo: Prince/Warner Bros. Records

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