NEW YORK ( TheStreet) -- Michael Jackson and his estate have signed a seven-year deal for 10 projects with Sony ( SNE) that is valued at as much as $250 million, reports say.

Jackson's contract is being called the most lucrative recording contract ever. It guarantees the Jackson estate of at least $200 million, according to the Wall Street Journal and other published reports. An official announcement is expected Tuesday.

Jackson died on June 25, 2009.

The contract includes old songs in new packages and some unreleased material. One of the albums will be of unreleased songs that will come out in November, the Associated Press reports.

Other projects may also include a video game, a DVD compilation of videos and a re-release of "Off the Wall," Jackson's fifth studio album, which first came out in 1979, according to the AP.

-- Reported by Joseph Woelfel in New York.

Follow on Twitter and become a fan on Facebook.