£1 million contract for Charlie Simpson?

Former Busted star Charlie Simpson is close to signing a £1 million record contract, according to The Mirror today.

Simpson, along with new band Fightstar, are apparently close to signing to the Sanctuary label, home to Iron Maiden and Morrissey. However, Universal Records also want to hold onto the star.

A source told the newspaper, "Charlie has a lot of bargaining power and will negotiate a very lucrative deal. But Sanctuary is the ideal place and would bend over backwards for him."

Charlie has also revealed that he wants to be in Fightstar for at least five years.

He said, "We'll be doing this in five years, even if it's not on a high level. We've already got a sh**ty van! It won't be hotels either - it'll be mate's floors, then cheap B&Bs. It doesn't bother me because I'm at peace with myself doing this."