Oasis centre of bidding war

British rockers Oasis are at the centre of a major label bidding-war, as record companies fight to sign the band when their current deal with Sony expires in the summer.

EMI and V2 have reportedly both offered the Live Forever chart-toppers a three album deal worth $28.5 million (€21.9m), and their interest could yet prompt Sony to offer the band an even better deal.

An industry source says: "Various record labels have been waiting patiently for the contract to end. Now it's a question of who puts the most money down on the table.

"Everybody wants Liam and Noel (Gallagher). They are still an act who can sell millions of records."