Former US President Barack Obama and wife Michelle Obama have reportedly agreed to write two more books with publishers Penguin Random House for $65 million, after a bidding war that blew away similar deals set by predecessors. 

The Financial Times, citing sources familiar with the auction, reported that the Obamas have signed with publishing giant Penguin Random House.

The paper said that is six times what George W. Bush reaped from his memoir, "Decision Points". That was $10 million.

Bill Clinton, in comparison took home $15 million for his book, "My Life," in 2004.

The two new books are to be written seperately by Barack and Michelle Obama and it's not clear yet what they'll be about or when they'll hit stores.

But the former president is assumed to cover his time in the White House.

Two of his previous books, "Dreams of My Father" and "The Audacity of Hope" were about his early life and world view respectively.

Both were best sellers also published by Penguin Random House. It also published a third children's book he wrote, dedicated to his daughters.

Publishers Harper Collins, which is owned by News Corp, and Simon and Schuster, which is owned by CBS, were also reportedly in the battle to secure rights to the new books.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.