Live Nation chief executive Michael Rapino is set to confirm his long-term future with the company by signing a new multi-year contract, according to reports.

Rapino could agree to a deal that would keep him in situ until 2022 as early as next week, the Amplify entertainment news website reports.

Rapino became chief executive of Live Nation in 2005 and took up the same role with the newly formed Live Nation Entertainment after the merger with Ticketmaster in 2010.

Live Nation shares are currently trading at a record $42.91, while the company’s market capitalisation of $8.9bn (£6.7bn/€7.7bn) is a four-fold increase on its worth at the time of its flotation in 2005.

Live Nation has made almost 20 acquisitions since the start of 2016, and was recently reported to be interested in buying SMG, the leading North American facility management firm.