The "Purple Rain" singer, who would have turned 58 earlier this month, passed away from an opioid overdose on April 21, reported Contactmusic.
Prince's longtime lawyer and manager L Londell MCMillan and Charles Koppelman have been appointed to handle his entertainment assets and they are hoping to incorporate his large vault of unreleased tracks into a Broadway project or a Cirque du Soleil show.
"We're going to be having a good time. There is so much to be done with this estate. There are vaults full of music. Prince was an icon on the level of The Beatles and Michael Jackson, and his legacy should be honoured," Koppelman said.