Kennedy is set for a big payout.
WASHINGTON (CNN) - Sen. Ted Kennedy, who first entered the Senate as a 30-year-old in 1962, has signed a major book deal to publish his memoirs.
Hachette Book Group USA is reportedly paying the senior senator from Massachusetts more than $8 million to a pen a book detailing his life - one of the highest payouts in history, according to the Boston Globe.
In a statement announcing the deal, Hachette CEO David Young said the book will be "a valuable record for anyone who cares about our government, our politics, and our growth as a nation."
"It will also tell the story of a remarkable American family that contributed to some of the most significant historical events of the last century," Young added. "We are honored to be Sen. Kennedy's publisher and are certain that multitudes of readers around the world share our eagerness to read his story."
Kennedy said the book will be comprised of recent reflections on his personal memories.
"I hope my reflections can contribute to a deeper understanding of many events in the history of this great country and to a more in-depth picture of an American family," Kennedy said in a statement.
Neither Kennedy's office nor his agent would confirm how much the senator is being paid, but Kennedy spokeswoman Stephanie Cutter told CNN, “A large portion of the proceeds will be given to charity, including the JFK library where he will place his papers.”
The memoir is expected to hit bookshelves in the fall of 2010.
– CNN's Alexander Mooney and Dugald McConnell