Season 10 American Idol winner 17 year old Scotty McCreery, is set to pocket an initial $250,000 for his first pay cheque after winning the show.

The cash was awarded to the performer partly for finishing in first place and partly an advance payment on his debut album, which will be released within the year.

Radar Online reports that Scotty is expected to at least double his money within the next twelve months, particularly if the record does well on the market.

He will also have the opportunity to add to his newfound wealth, as he takes a cut of the sales of Idol merchandise on the upcoming tour, $1,000 for each tour date and endorsement deals. Radar estimates that he can expect to earn an additional $100,000, as previous “Idol” winners have done.