One Direction Break Up Update: Boy Band to 'Lose £10m Bonus' After Zayn Malik Walks Out

One Direction is set to lose bonuses worth £10 million ($18.8 million) after Zayn Malik's departure from the band.

The singers were guaranteed £2 million each for fulfilling all the terms in their contract but that is now void since the group is no more a 5 man band.

Malik felt he didn't need the bonus as he felt he had already made enough money leaving him with no 'incentive' to stay.

A source close to the band said, "There's a massive loyalty bonus for each member if they fulfil their record deal."

"But Zayn didn't even want the money. All he ever wanted was to buy his mum a house - and he's done that - so there was no incentive for him to finish the tour, let alone make a fifth album only to spend another six months on the road."

Malik was nervous about breaking the news of his departure to band mates Louis Tomlinson, Harry Styles, Liam Payne and Niall Horan directly and decided to intimate his decision through a text message.

Even as Malik has been preparing towards living a more normal life, the singer is already busy recording a solo album with producer Naughty Boy. A demo of the pair's recent collaboration was posted on the internet recently.

Sources are saying that the songs in the album are 'very Ne-Yo.'

Former band mate Tomlinson felt Malik's decision to release a solo record after just leaving the band a few days earlier was inconsiderate.