The Irish singer has penned a deal with Universal's London Records and work is already under way on his first album, which is expected to hit shelves at the end of the year.

Filan is recording the record in Nashville - as well as the UK - and speaking in a statement, he expressed his excitement at having control over his output. The singer said:

"I am so excited to be joining London Records, Universal Music and being back in the studio in London and Nashville recording new songs has been amazing. One of the things that pleases me the most about this record is that I've been given the opportunity to write my own songs. I'm so excited for people to hear them!"

Manager Louis Walsh meanwhile added: "This is a fantastic new deal for Shane, we are thrilled to be part of the team at London Records."

The news marks a turnaround in fortunes for the singer, who was declared bankrupt last year with debts of £18m after losing money in property.

The former Westlife singer, who is currently a mentor on The Voice Ireland, told The Sun that he’d like nothing more than a permanent role on the talent show:

“Being on The X Factor judging panel would be an amazing gig and something I would thoroughly enjoy. I would hate to replace Louis Walsh. That would never be my intention.

“It’s an amazing TV show and a great one to be a part of. I certainly feel that since The X Factor started I’ve been around it and in it an awful lot.

“I did the judges homes with Louis, presented The Xtra Factor a few times and this will be the first series of the main X Factor show that Westlife don’t perform on. We really have had an amazing time on The X Factor over the years so it would be great for that to continue.”

The 32-year-old also revealed which contestants from this year’s series he’s been getting behind:

“James is definitely outstanding. I think he’s probably one of the most unique artists that’s been on so far and I really think he deserves to win the show. He’s a young, cool, contemporary artist — probably the most contemporary that they have had for a long time, so it’d be good to see him win it.

“There are some other good people on there. I think Ella Henderson started off very strong and Rylan’s brilliant.”

The 'Flying Without Wings' singer will host the interactive part of 'The Hub', which is presented by Matt Johnson and Stephen Mulhern, and he told The Sun newspaper that he can't wait to start his exciting new television role:

"I've always enjoyed This Morning, so I was delighted when I got the call to be part of the team. The Hub is such a great way to interact with viewers discussing different topics - some serious and some light-hearted."

"I've also heard that it is a lovely team there, so I'm really looking forward to sharing the screen with Eamonn and Ruth."

This Morning's executive producer Karl Newton also praised Egan's natural ability and described him as "amazingly talented", adding: "Our viewers will be in for a TV treat when he takes over 'The Hub'. He is sure to brighten up our overcast summer."

The Irish boyband, who have scored 14 UK number one singles and sold over 20 million records, performed a two-hour set in front of an 80,000 crowd at Dublin’s Croke Park stadium, in addition to the thousands of fans who watched it at various cinema screenings across the UK. 

During the show, Kian told the audience: "As this is the very last Westlife concert, the whole idea was to be able to get out here and see our fans one last time and celebrate 14 years."

Mark Feehily also expressed his gratitude to their loyal fanbase: "For 14 years, Westlife fans have made our dreams come true. This show is dedicated to each and every one of you. Our fans mean so much. You have never stopped supporting us.

"Thanks so much. You're not just our fans, you are our friends and have been with us each step of the way."

Shane Filan, who has already signed a record deal as a solo artist, then added: "We will always be member[s] of Westlife but we won't be a band anymore.

"Thank you. I'll never forget this. These are times that will live in our lives forever."

The news was confirmed at a court ruling this week at Kingston County Court after the singer had seen his property empire crumble.

Filan had taken out bank loans to build a 90 home estate in Co Leitrim but the project is said to have only built over 50 houses.

Filan - who is currently on Westlife's farewell tour - said that he is "devastated" at the ruling. He is quoted by the Mirror as saying:

"Together with a team of financial and legal experts I have spent months exploring all possible alternatives to bankruptcy but to no avail. I have worked long and hard to try to reduce my debts, and I am devastated that it came to this conclusion."

He continued: "I now intend to focus on the remaining dates of the Westlife tour and my commitments to the band before looking to rebuild a future for my wife, my three children and myself."

The lads, who are currently on their Farewell tour, will stream their last ever performance in cinemas across the UK live as it happens on June 23.

The show is due to take place next month at Dublin's Croke Park and will be screened at more than 200 cinemas in nine countries including England, Belgium, Denmark and Norway.

Following this exciting news, Westlife released an official statement and explained that it's bound to be an emotional night and they are so happy to be able to share it with their devoted followers around the globe:

"It is bound to be a hugely emotional night and we expect to have tears in our eyes for nearly every song. The fact that the show will be beamed to our fans in cinemas around the world only adds to our excitement."

Tickets for the screenings are set to go on sale at the end of today (May 29). Watch the group's video for 'When You're Looking Like That' below:

The lads' final run of live dates will come to an end on June 23 at Dublin's Croke Park and they will then go their separate ways, but they are already in talks with companies about their respective new projects.

Earlier today (May 17), the Daily Star revealed that 32-year-old Shane Filan has signed a deal with Universal to record and release his debut solo album, although the hitmaker is yet to confirm the news himself.

Meanwhile, member Kian Egan spoke to 98FM this morning and explained that after years of being a part of Westlife he is excited to begin a new chapter in his life but won't rush into anything unless it "feels natural":

"I have been in talks with Sky amongst other people aswell about other TV projects. Nothing is in the bag, nothing is finalised. I haven't signed any contracts or anything like that - it's all talk at the minute. I signed up with a big agency in the UK. It's looking good."

"It's looking like I will probably be doing one or two more things in the UK in the coming months and the next year or so but to be honest, I'm not chasing anything. I don't want to be running after anything - if something comes up that feels natural, then I'll go for it."

In a poll run by MTV to find the top boyband, the Irish group came out winners after some 12 million votes were cast.

The beat off the likes of the Beatles and Jonas Brothers to land the hefty accolade.

It's good timing for the Irishmen, with the band set to head out on a farewell tour soon as they round off their chart-busting career.

Speaking about the poll, an MTV spokesperson told the Irish Daily Mail: 

"The fans have spoken. After two weeks of intense match-ups and more than 12 million votes Westlife have come out on top in MTV's Battle of the Boybands."

The lads, who have enjoyed an incredibly successful career over an impressive 14-year period, knew it was time to call it a day because they felt as though they had reached a plateau with both their music and live shows. Shane Filan explained:

"It felt like it wasn't special any more, not like it used to be. For the fans it's slightly different but for us it's been like, 'Are we getting better? Are we getting worse? Are we getting to the stage where we aren't enjoying it?' It is half our life. None of us want to let it go and all of us will be crying come June [when the tour ends], but it's time."

"It's probably been brewing for a good year, as we knew we were coming to the 'Greatest Hits' album and the end of our contracts. We'd all been sitting down and talking about the pressure and the stress of trying to make the record and get it right."

Kian Egan, who recently celebrated the birth of his first child with wife Jodi Albert, added that the decision to call time on the group was in the pipeline before their tour in Asia so they all had time to come to terms with the news:

"I shouldn't say it but before we went on tour to Asia, we knew what was going to happen. We knew it was our last tour in Asia and when we came back we were going to release the news, so Asia's probably the best trip we've had in years! It was like going away with your four mates on the p**s. It was a fairytale moment."

Watch their performance on the X Factor final below:

Feehily tweeted: "Sadly, Kevin & I are no longer together. We've had an amazin 7 yrs & are both so thankful for the love & support u have shown us from the start.

"We won't be answering any questions about this as its a very private matter. Thanks in advance for understanding that. Lots of love, Mx"

Pressparty reported on November 24 that Feehily planned to marry McDaid as soon as Westlife split.

Jodi Albert, who performs as part of girl group Wonderland, and Egan welcomed baby boy Koa at 6.10pm BST on December 20 and the heartthrob took to his official Twitter page to share the fantastic news with his fans:

"Our Little baby Boy "Koa" was born today at 6.10pm. @JodiAlbert_xxx is an amazing woman.Love them both so much.Both doing amazing,so proud x"

An hour later, he added: "Wow thanks guys. Amazing to see our little boy Koa is trending in the Uk! And he's only a few hrs old!!!"

The X Factor panelist told The Mirror newspaper that he will take on and manage Filan in the hope that he will continue making music and craft a lucrative new chapter in his performing life:

"I'm going to manage Shane Filan. He's going for the Michael Buble market. They're all good but I can only manage one. I love Shane's voice. I love Mark's voice too. Shane is going to be a big artist. I will only manage someone if I believe in them. If I get someone amazing I will manage them."

Unfortunately for Walsh, only being able to manage one of the four remaining Westlife lads means that Kian, Mark and Nicky will have to seek future fame elsewhere, but he has every faith that they will be just fine:

"The other boys, Kian and Nicky, are going to do TV and different stuff and radio. They are going out on a high."

The stars, who recently announced that they are calling it a day in 2012, released the Gary Barlow-penned track as their final single, but regret their decision as it only managed to get to No.32 in the UK Top 40 and has now been named as the group's only non-Top Ten single. 

"It’s disappointing as we’ve never had a chart position that bad. Our fans instead bought tickets for our last tour next May. 'Beautiful World', which Mark wrote, would have been better. However, as we’re splitting up, whether it charted at No 1 or No 100, it makes no difference to the next six months for us.”

The lads are set to take their Greatest Hits Tour on the road next June and once the run is finished they will put down the mics for good. 

Speaking to the Daily Star newspaper, the singer explained that working on a music related show such as The X Factor would be perfect as he could put his experience to good use:

"It’s funny with The X Factor because in the past we’d be looking at the bands and how they perform, but this year I’m looking more at Louis and Dermot to see what they do. I’m keen to do more TV presenting and I can see myself getting into a Dermot O’Leary kind of role. Presenting a show like that is something I would like to do."

Byrne also added that his relationship with music mogul Simon Cowell is solid and may give him a working advantage if he ever wants to go up for a judging role on The X Factor in the future:

"I’ve a good relationship with Simon, despite everything. I texted him when we left the label and it’s all amicable now. Maybe down the road, me doing X Factor would be a very interesting conversation to have with him.”

Watch a recent interview with Byrne, along with Westlife's video for 'Lighthouse', here:

The pop singer has been dating Kevin McDaid since 2005 and the couple have been engaged since 2010, although they are yet to set a date because of Feehily's busy schedule.

Speaking to the Irish Daily Mirror, he explained this will change as soon as Westlife have played their final gig because he will no longer be tied up with band commitments:

"It will definitely be next year. We want to do it as soon as we possibly can, but we want it to be right as well. It's finding the time and doing it right. We've no reason to rush it or say, 'Let's just f**king pick any church or hotel or venue in the country'."

"We've been so committed to Westlife that while we've had big gaps when we're not working, you have to plan so far in advance for a wedding. So you really don't have time to plan. We've pretty much got the time to be getting on with the wedding now."

The 'Flying With Out Wings' group's last live show is set to take place on June 23 in Dublin and you can watch the video for their final single below: