Pete's New Deal

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Only in the show business would your career sky rocket from being a druggie. According to the Mirror Pete Doherty is doing a secret deal for big money... but this time he can be proud of it. He’s just gonna shoot it all up anyway so I don’t know what the point is. The singer and his band Babyshambles signed a multi-album deal worth £1million over the weekend. Reports reveal it is with major label Parlophone. The company, which has Kylie Minogue and Lily Allen on its books, snapped up Pete and bandmates Drew McConnell, Adam Ficek and Mick Whitnall after a bidding war.

Pete's close pal says: "He's over the moon because The Beatles were with Parlophone. That means a lot to him.The band can't wait to get their new music on the shelves. It's a very exciting time because a lot of record labels were after them, but in the end they got the best deal, money-wise and album-wise, with Parlophone." Babyshambles are set to rake it in with up to 60% of the royalties, which record label insiders have said is way beyond the norm. Usually bands get less than 10 per cent. Something sounds fishy to me, they’re not great to be getting such a sweet deal.

Under the Parlophone agreement the band will release an EP of about five tracks within the next few months and this will lead on to a multi-album deal. Pete, 27, who's being treated for his crack and heroin addiction in The Priory clinic, North London, and the band have already recorded an as-yet untitled, 10-track album. It's expected to be on the shelves before Christmas. Babyshambles were dropped by Rough Trade earlier this year.

Too bad the singer is in rehab until September 4 and under a 10pm - 8am curfew on a court order. It's believed Pete's new label is also forking out thousands for his treatment. The friend continues: "This all adds up to a lot of money which he doesn't have. The last time he was ordered into rehab Rough Trade paid for it. This time it looks like Parlophone is picking up the bill, but it will be worth it. For the first time Pete is taking his rehab seriously because he doesn't want to lose Kate Moss again and he wants his band to dominate the world."