‘American Idol’ Winner Scotty McCreery Scores Major Payday

Michael Becker/FOX

His minor's contract reveals the staggering amounts of money the 17-year-old country crooner is expected to rake in as a result of the Fox show.

Two days before Scotty McCreery was named the new American Idol champ, a Los Angeles judge approved a minor's contract establishing financial protection for the country crooner. According to the Associated Press, the contract drafts give him at least $250,000 in advances for winning Idol and recording the first album.

The 17-year-old will rake in even more dough - tens of thousands of dollars, to be exact - for granting "Idol" partners likeness, merchandise and endorsement rights. And that doesn't include royalties on any music he releases.

Runner-up Lauren Alaina will also see plenty of green.

According to her contact (approved by Superior Court Judge Marjorie Steinberg), the 16-year-old got $87,500 for finishing second. (The amount would be doubled if Alaina records an album.)

"It felt like a dream," he said backstage in his dressing room after Wednesday's show. "It still hasn't sunk in yet, and I don't think it will for a while. I'm on top of the world right now."

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