The late King of Pop now has the biggest recording deal in history.

The estate of Michael Jackson today signed a $250 million guaranteed contract with Sony Music Entertainment for ten projects over the course of seven years.

One of the albums will include never-before-released Jackson recordings that will come out in November.

"This is a deal for the back catalogue, unreleased music, the kind of things, the kind of demand that would not, absolutely not, have been there without his death," says Sharon Waxman of thewrap.Com.

Jackson and his music are still enormously popular.

Last year he was by far the best-selling artist in the world.

He's sold roughly 31million albums since his death in June.

Most of the money from the contract will be used to pay down his considerable debt.