She was meant to be enjoying a well-earned year off from fame following 21-months of record-breaking touring, but Taylor Swift surprised us all when she lifted her social media hiatus for a momentous announcement: she finally owns her masters, the rights to every song she recorded for the first 11 years of her career – and all the financial spoils that come with it.

In a letter to fans, Swift explained that she was able to buy back her entire music catalogue from private equity company Shamrock Holdings, who bought Swift’s masters from her former label, Big Machine Label Group, in 2020. Owned by Scooter Braun (a ‘manipulative bully’ in Swift’s words), the music manager bought Swift’s back catalogue when he acquired Big Machine in 2019 from Scott Borchetta, the resulting feud between the Swift and Braun leading to her re-recording her entire musical legacy. It was thanks to the billion-dollar success that was the Eras tour that Swift was finally able to buy back her voice.

At the same time, she dealt a bittersweet blow to fans – she won’t be re-recording her 2017 album, Reputation, as she has done with five other albums. It was the only album she struggled to record, she admitted, because it’s filled with ‘defiance, [a] longing to be understood while feeling purposely misunderstood…desperate hope [and a] shame-born snarl.’ It’s thought to be largely based on her six-year relationship with actor Joe Alwyn.

Alas, fans needn’t feel too hard done by – judging by the many easter eggs littered throughout her letter, her twelfth studio album is on the way. Unofficially titled TS12, Swift notably spelt ‘this’ with 12 letter ‘i’s in her announcement and used three numbers – 4,6 and 2 – which add up to 12. Those familiar with Swift’s easter egg strategy will be aware this is nothing to be scoffed at, one of many ways she bonds with fans to give them clues about upcoming projects. In fact, some even think she hinted at a release date for her next record: April 2026.

The puzzle is a welcome change for Swifties who have spent the best part of this year waiting for the now 35-year-old to emerge from her fame hideaway. Swift has been holed up with her American footballer boyfriend, Travis Kelce, in his £20million Florida mansion – only stepping out for the occasional girls’ night out with BFF Selena Gomez and new sidekick Dakota Johnson, who she was spotted with at New York’s Monkey Bar and Italian restaurant Via Carota earlier this month.

In Florida, Swift and Kelce are said to be ‘nesting’, with rumours of an engagement and baby plans swirling. ‘Taylor’s in this incredibly empowered, grounded place right now, it’s probably the happiest and most self-assured she’s ever been,’ an insider tells Grazia. ‘As far as the engagement and baby talk goes, no one in her world is confirming anything officially, but those closest to her wouldn’t be surprised if both things were in motion. She and Travis are completely aligned on what they want long-term.’

‘They’ve been nesting and spending a lot of quiet time together, long walks, low-key date nights and visits to see family,’ the source continued. ‘She’s also really focused on wellness, no drinking, lots of Pilates and hiking. This time off is very intentional, she wanted space to breathe, be in love and process everything she’s accomplished. Reclaiming her masters has been huge. She paid a jaw-dropping amount to get them back, but she says it was worth every cent because this is about her legacy.’

Billboard reports that Swift’s masters cost a whopping £266million, a fraction of the £1.5billion the Eras tour grossed. Forbes estimate Swift’s net worth now stands at £1.1billion. ‘About £370million of her fortune was cash from music royalties and touring,’ they state. ‘Another £370million was from the increasing value of her music catalogue—much of which she has been re-recording and releasing—and £92million of her net worth comes from real estate.’

‘Taylor had a team of people working really aggressively on her behalf and she made sure to thank each of them with a personal handwritten note expressing her gratitude,’ the source says of the masters purchase. ‘And no, Scooter Braun did not help at all, despite what some people were saying, that was completely false.’

Despite fears of an early retirement post the Eras tour, Grazia’s source says TS12 is absolutely happening. ‘She’s been writing for months and it’s going to be deeply personal. People are saying this will be her most adult record yet, it will be about real love, not the fantasy of love.’ Is that a subtle dig, we hear? No doubt the Swiftdom will be dissecting every last lyric when it finally comes. .