One Direction have signed a new deal with Simon Cowell and his Syco label that will bring them up to 2016.

A Syco spokesperson confirmed the deal, “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.

“Simon and the band look forward to many years of continued success together.”

As part of the deal which is worth an estimated £10 million the group will have three more albums, two in the studio and one greatest hits compilation. They will also continue to tour extensively.

The contract will come into effect after the release of their upcoming third studio album, Midnight Memories, which will be released November 25th.

A source told The Sun, “This is a big deal for Simon and the lads. It shows confidence that they have a long-term future and that a split or members going solo is highly unlikely. It will keep them busy until the end of 2015 and probably 2016 too.

The boys, Simon and their team have already started planning for their fourth album even though the third isn’t out yet.”