The Colombian singer-songwriter also announced rescheduled Las Locuras Tour dates.
Silvestre Dangond has launched a new label, Music Dreams Records, to help propel the careers of rising and veteran vallenato artists in his native Colombia, Billboard has learned.
The 41-year-old vallenato star has already signed six artists to the label, including Mario Fuscaldo, Beto Urieles, LuisRa Solano, Rafa Roncallo, Fred Quintero and Roland Valbuena. Dangond will also manage and produce some of his newly signed artists.
"When soccer players retire, they prepare to become coaches for other players," Dangond -- who is signed to Sony Music Latin and will serve as CEO of Music Dreams Records -- said in a statement. "That's how I feel. I don't actually plan on retiring soon but I do want to help and guide other artists and give them that confidence that we all need in this industry."