Latin beauty Shakira is set to join a select group of elite musicians by inking a mega deal with the powerful music promotions group Live Nation in the next few weeks.

The New York Post reports that Shakira could sign a deal worth as much as $70 million in return for rights to concert promotions, merchandising and recording.

Shakira would join World Tour heavyweights U2, Madonna and Jay-Z on the Live Nation talent roster.

The reports suggest Shakira has been in negotiations with the group for almost ten months now - but a final announcement could come as soon as in the next few weeks.

Signing Shakira would be a major coup for Live Nation, following hot on the heels of her massively successful Oral Fixation World Tour. It was the Colombian's most success international tour to date, and she enjoyed phenomenal album sales from Oral Fixation/Oral Fijacion all over the world.