The Pink Floyd have sold their catalog to Sony Music for $400 million after years of band member wrangling and dead-end negotiations, the Financial Times reports.

The British band’s deal covers the catalog of recorded songs, but not the composition rights. However, the band has signed a name and likeness deal giving the label rights to merchandise and possible film and television spinoffs.

A few weeks ago David Gilmour admitted to Rolling Stone that it would be a “dream” to sell the catalog of Pink Floyd and to get out of “the quagmire” apparently referring to his long-running contentious relationship with former band member Roger Waters. Last month, it was reported that Pink Floyd were in “advanced discussions” with Sony about a $500 million deal.

Roger Waters left the band in the early 1980s and tried to stop the other members from using the name Pink Floyd, resulting in a lot of strain in the relationship between his members to this day. It’s “one of the biggest deals in recent years,” reports Variety.

Pink Floyd’s music catalog is one of the most valuable and sought after in modern music with albums such as “Dark Side of the Moon”, “The Wall”, “Wish You Were Here”, “Animals”, “Meddle”, ” Piper at the Gates” and others.

Pink Floyd first tried to sell their catalog in 2022, but talks were put on hold amid disagreements within the band and Waters’ incendiary comments about Ukraine and Israel. At the time, Sony was among the potential buyers along with Warner Music, BMG and Hipgnosis.

In 2022, Pink Floyd released their first new music in three decades to raise money for the people of Ukraine. “Hey Hey Rise Up” is the song on which Pink Floyd members David Gilmour and Nick Mason collaborated with Ukrainian singer Andriy Khlyvnyuk of the band BoomBox.

Pink Floyd formed in London in the mid-1960s and helped shape the UK psychedelic scene.