Tours of Prince's Paisley Park home will be run by company running Elvis Presley's Graceland tours

Fans will get the chance to look through the main floor of Paisley Park, including the recording studios where Prince recorded and produced some of his biggest hits.

Supporters will also be able to feast their eyes on some of the many awards the late star won, see his concert wardrobe, rare music and video recordings as well as several of his musical instruments.

Bremer Trust - the company overseeing Prince's affairs - announced the deal with Prince's sister Tyka Nelson.

She said in a statement: "Opening Paisley Park is something that Prince always wanted to do and was actively working on.

"Only a few hundred people have had the rare opportunity to tour the estate during his lifetime.

"Now fans from around the world will be able to experience Prince's world for the first time, as we open the doors to this incredible place.

"The new Paisley Park museum will offer fans a unique experience, an exhibition like no other, as Prince would have wanted it."

However, not all of Prince's family are said to have been in agreement with the deal.

Sources have told gossip website TMZ that some of the late star's family were not happy because Graceland Holdings has previously had financial problems and are due to get 50 per cent of the revenue generated by the Paisley Park tours.

Bremer Trust said: "The Estate is working with the family to form an advisory council who will provide valuable input on the entire experience."