U2 have inked a 12-year deal with Live Nation, the concert promoters who recently signed a groundbreaking touring and recording contract with Madonna.

The contract, signed for an undisclosed fee, will cover the Irish rockers’ merchandising, digital and branding rights, with the band continuing to release records through Universal.

“We’ve been dating for over 20 years now,” singer Bono told BBC News. “It’s about time we tied the knot.”

“U2 has created some of the greatest rock music of all time,” added Live NationMichael Cohl. “It has long been our intention to consolidate and extend our relationship.”

chairman

Madonna signed a groundbreaking $120m (£60m) ‘360 degree deal’ with Live Nation

last year - a contract that combined her recording, publishing and touring revenues.