Barack and Michelle Obama have signed up with Penguin Random House to publish books.
There was reportedly a lot of competition from other publishers but, according to
Sky News, Penguin will pay $65million for the rights.
There has been no information given on what the books will be called or what information will be disclosed but it's thought they will be about their time in the White House.
Their book deals are the highest grossing of Barack's predecessors with Bill Clinton earning $15million for the rights to his book and George W Bush receiving $10million for his.
Barack and Michelle have both previously released books. Michelle released a book on gardening and food,
American Grown, while Barack released two books,
Dreams From My Father and
The Audacity Of Hope.
