Rod Stewart, the singer behind “Maggie May,” has sold his song collection rights to Iconic Artists Group. They want to keep his music alive for future fans. The deal, reported by the Wall Street Journal, is nearly $100 million. Stewart’s team hasn’t confirmed the exact amount.

Stewart, who has been in the music scene for 60 years, feels it’s the right time to pass on his music to Iconic. Irving Azoff, Iconic’s CEO, is excited about the partnership and says they have enough money to invest in more artists. Stewart’s hits include “Do Ya Think I’m Sexy?”, “Sailing”, and “Have I Told You Lately That I Love You”.

Other artists like Cher, The Beach Boys, and Katy Perry have also sold their music rights recently. Perry sold her songs to Litmus Music for $225 million. This included her albums like “Teenage Dream” and “Witness”. Katy Perry has had many chart-topping hits like “Firework” and “Roar”.

Many famous artists, including Keith Urban and Justin Bieber, have also sold their music rights in the past.