Obamas’ memoirs reported at $65 million

The expectations for the books Michelle and Barack Obama have just signed a deal to write are stratospherically high considering the often dull literary tradition of books written by former White House occupants.

Typically, such memoirs sell well despite being terribly polite and discreet. They’re intended as an attempt at cementing one’s legacy, not dishing dirt. But both Obamas, who have quietly returned to their life as private citizens, have devoted followings and a way with words.

“There will not be a more eagerly awaited presidential autobiography than the one that he’ll write, because of who he is and because of the fact that people have high expectations for him as a writer,” David Axelrod, who was chief strategist for Obama’s presidential campaigns, said recently on his podcast.

Penguin Random House announced late Tuesday that it had signed the former first couple to a joint book deal, and reportedly it’s a huge one that has set off a whirlwind of gossip in the publishing industry. Financial Times claims the deal topped out at $65 million, although other sources have cited amounts simply in the tens of millions of dollars.

Obama, who already has serious book-writing experience, has said he took notes during his presidency, preparing to tell his story. Michelle has largely withheld her opinions on topics of controversy, which only deepens the well of interest in her, too.

“He was very revelatory in his first two books. Who wouldn’t want to read this one?” said Gail Ross, a Washington literary agent. Michelle Obama, she added, is so beloved that most people would “read anything she has to say about pretty much any subject.”

It was an unusual move for the couple to sell their books together, and it is unclear what the strategy was behind packaging them. Publishers have been interested in both of their post-White House books for years.