Prince's long-time collaborator and ex-girlfriend Sheila E wants to reportedly take control of the late pop icon's estate.
Sheila E performing with Prince
The 58-year-old singer, who worked with Prince during the legendary 'Purple Rain' recording sessions in 1983, has approached his sister Tyka Nelson about allowing her to organise his affairs and assets believed to be worth a reputed $300 million.
An insider said: "Sheila wants to protect his legacy at all cost but it seems unlikely that the family will go for it, although Prince's friends are lobbying hard for Sheila to be in control."
Sheila's ambition is not motivated by self-interest but out of love for 'The Most Beautiful Girl In The World' hitmaker, who turned her into a star in her own right and who she remained friends with for her entire adult life.
The insider told RadarOnline.com: "She's even offered to do it at no charge."
Tyka has been granted the right to be executor of the estate, after it was determined her brother had never created a will for his vast estate, which includes a musical catalogue of his work and potentially thousands of unheard songs at his Paisley Park complex.
In terms of finances, the money will be divided amongst Prince's brothers and sisters.
But long-term, Prince's music - which Warner Bros Music still retains some ownership of - will need to be curated properly to protect his legacy as one of the most significant songwriters of all time.
The insider said: "There's complete and utter chaos because Tyka isn't well versed in managing anything like this.
"But the other half siblings are even less equipped to deal with it!"
Currently, Prince's music is only available via iTunes, Jay Z's streaming service Spotify and in physical formats.