After nearly two years out of contract, Puerto Rican superstar Chayanne is close to re-signing with his longtime label, Sony Music Latin, sources say. Chayanne had been reportedly speaking with other labels after his contract expired in 2007. Now, he is poised to stay in his longtime home. Neither Sony nor the artist’s management had any comment at the time. Chayanne will likely release a new studio album in early 2010.