Drake will reportedly have an album of new material ready for his next record deal.
Despite recently releasing a 26-track record 'Scorpion' through Young Money/Cash Money - which is distributed through Universal Music Group's Republic Records - just last month, the 'Hotline Bling' rapper is said to be prepared for the next stage of his career.
A source close to the situation told reporters that the 31-year-old star will have a new LP ready to drop to accompany any news of a change of company.
Despite this, an insider at Universal added to the publication that Drake isn't set to leave the label any time soon.
Speculation about his future comes after he rapped on new track 'Is There More': "Soon as this album drop I'm out of the deal."
His latest record has been a huge success so far, hitting more than 770 million total US streams, which makes up some of his 749,000 album equivalent units since its release on June 29.
Meanwhile, it's been reported that Drake is set to collaborate with Madonna while they are both in London.
He is currently in London following his surprise appearance at Wireless Festival on Sunday (08.07.18) and is reportedly planning to join the 59-year-old singer in the recording studio this week, as she's finishing work on her new album in the city.
A source told reporters: "Drake and Madonna are set to make some music together.
"Madonna is in London putting the finishing touches to her new album and Drake promised to work with her on something."
In 2015, the pair caused a stir when they shared a kiss on stage at Coachella.
And that same year, Drake wrote a song called 'Madonna', which featured on his mixtape 'If You're Reading This It's Too Late', and the 'Hung Up' singer was a huge fan of the track.
She said at the time: "I love your new song about me! It's my favourite! I'm still waiting for you to pick me up."