T.I.'s contract with Atlantic expired last month, according to a report in TMZ, and he's working on getting a $75 million deal.

The package reportedly would include three albums; 10-20 percent of publishing, touring, merchandise, film and TV rights; corporate endorsement deals; and exclusive signing of all artists under Tip's Grand Hustle imprint.

He's already met with Dr. Dre, Jay-Z, and already has a $50 million offer from Sony, with Universal likely to weigh in soon, the report said.

Reps for Atlantic and T.I. had not responded to Billboard.biz's requests for comment at press time.