Michael Jackson has agreed to stage a residency at the O2 Arena in London this summer, reports claim.

The singer is believed to have exchanged contracts with promoters for the London venue following lengthy talks.

The initial dates will be announced at a press conference on Thursday (March 5th), which Jackson is expected to attend, according to Sky News.

Jackson's residency, which is expected to emulate Prince's 21-night run at the venue in 2007, will be the singer's only live dates.

Speculation about Jackson's future as a performer increased in January when his spokesman said the singer had returned to Los Angeles in order to relaunch his career.

Despite reports about the singer's supposed bad health Jackson's spokesman, Tohme Tohme, said "the second half (of Jackson's career) will be better than the first."

The reports come less than a day after Jackson was pictured leaving a Dolce and Gabbana store in Los Angeles.

(by Jason Gregory)