PETTY CASH: While Petty’s 1989 Warner Bros....

PETTY CASH: While Petty’s 1989 Warner Bros. deal pales in comparison to gargantuan superstar pacts signed last year by Michael Jackson ($65 million), Janet Jackson ($40 million) and the Rolling Stones ($42 million), it is substantial.

The six-disc contract reportedly includes a one-time, $2 million, non-recoupable payment, a $3-million advance per album, a hefty video budget and an estimated 20% royalty rate on the retail value of each album sold, sources said. Petty stands to earn additional monies after Warners purchases catalogue distribution rights next year to his first two albums.