Bill Clinton struck a deal yesterday to write his memoirs for an advance thought to top the $8m (£5.6m) that his wife received earlier this year for hers.
Immediate speculation focused on the likelihood of the former US president revealing more details of the Monica Lewinsky affair.
A former White House special counsel, Lanny Davis, said: "He may have some comment about personal regrets in the Lewinsky scandal."
He added: "I do believe what Clinton did was wrong, and he believes it but I don't think it affects the judgment of history, that he was a great president."
But Nora Rawlinson, of Publishers Weekly, said: "I don't think you can press him too hard to say exactly what happened with Monica." It was thought at one time that Mr Clinton would struggle to match the advance negotiated for his wife, now New York senator.
At that time his stock was low after granting a batch of controversial pardons as he left office but his image has been rehabilitated partly by the show that greeted his arrival in new offices in Harlem, New York, a week ago.
The Pope received a record $8.5m for a book in 1994 and John Welsh, chairman of General Electric, got $7.1m last year for the North American rights to his memoirs.
"Clinton is one of the most dominant figures on the global stage," said Sonny Mehta, president and editor-in-chief of Alfred A Knopf, which will publish the book in 2003. "He has lived an extraordinary life and he has a great story to tell."
Those who cannot wait two years to see what the former president has to say could turn to volume two of the Public Papers of President William J Clinton, recently published at $75 by the National Archives in Washington DC.
The previous volume of texts of public statements, speeches, news conferences and communications with Congress, contained the words: "I want to say one thing to the American people. I want you to listen to me. I'm going to say this again. I did not have sexual relations with that woman, Miss Lewinsky."
Editor Robert Gottlieb, who has worked with authors including Katharine Graham and Toni Morrison, will serve as Mr Clinton's editor.
Clinton said in a statement that he was looking forward to working with Bob Gottlieb and the editorial team.
