Barack and Michelle Obama set for record 'MULTIMILLION DOLLAR' bumper book deal

THE Obamas are set for a lucrative book deal after signing with Penguin Random House publishers.

Barack Obama’s three previous bestsellers - ‘Dreams of My Father,’ ‘The Audacity of Hope,’and ‘Of Thee I Sing: A Letter to My Daughters’ - were all published by Penguin Random House.

Meanwhile, Michelle Obama has written ‘American Grown’, a book promoting healthy eating which was published by Crown, a Penguin Random House imprint.

A statement from Penguin Random House CEO Markus Dohle said: “We are absolutely thrilled to continue our publishing partnership with President and Mrs Obama.

“With their words and their leadership, they changed the world, and every day, with the books we publish at Penguin Random House, we strive to do the same.

“Now, we are very much looking forward to working together with President and Mrs Obama to make each of their books global publishing events of unprecedented scope and significance.”

Titles and release dates have not yet been publicised although they are believed to be centred around the Obamas’ years in the White House.

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Bill Clinton received a huge sum for his memoir entitled 'My Life'

The Obamas’ advance is expected to be the highest ever received by a former President and First Lady.

Bill Clinton sold his memoir, entitled ‘My Life’, for more than £8million ($10million), while defeated Democrat candidate Hillary Clinton received a reported £6.5million ($8million) advance for her ‘Living History’ memoir.

The Obamas have also selected the Harry Walker Agency to set them up on the highly-profitable speaking circuit as they prepare for life after the White House.