The star's reported offer from Virgin could earn her up to £60 million...

MARIAH CAREY is on the brink of signing what could be a historic record deal with VIRGIN.

The label is reported to be shelling out up to £20 million per album to sign up the singer, in a deal which could earn her up to £60 million.

The first release slated for August is believed to be the soundtrack to her forthcoming film ‘All That Glitters’, which will be the follow-up to 1999’s ‘Rainbow’, her last album on Columbia, who confirmed that she had parted ways with the label, having spent her whole career with the Sony division.

The 31-year-old has sold 120 million albums in her career.

Today’s (April 3) Sun newspaper speculates that her deal – which is expected to be signed imminently – will smash previous records held by REM, who signed a £52 million deal in 1996, Janet Jackson, whose deal nets her £15 million per album plus extras, and Madonna, whose deal was worth £40 million.