One Direction sign big money deal with Simon Cowell

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Pop stars ONE DIRECTION have signed a $15 million deal with SIMON COWELL to keep him in charge of their affairs until 2016.

The boyband shot to fame after forming on Cowell's U.K. reality TV show The X Factor in 2010, and have gone on to become a worldwide phenomenon.

It has now been confirmed the singers have renewed their contract with Cowell and his Syco record label in a reported $15 million deal which will keep them on the company's roster for the next three years.

A spokesman for Syco tells Britain's The Sun newspaper, "Simon Cowell and One Direction are delighted to confirm they have agreed to continue their hugely successful relationship and look forward to many years of continued success."

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