Pete Doherty’s old band The Libertines to reform

Iconic indie band The Libertines, the group that catapulted Pete Doherty into the public eye, are to reform and play this year's Reading and Leeds festival in August.

The reunion between Doherty and fellow frontman Carl Barat could prove to be lucrative. It is being reported that the band will be paid £1.5m for the shows.

The pair originally formed the band in 1997 but managed just two albums in seven years before imploding in 2004, when Barat kicked Doherty out of the group because of his heroin addiction. In one of the band's final performances at Brixton Academy Doherty suddenly smashed up his guitar, tore off his top and fled the stage midway through the set, before re-emerging with his torso covered in blood to complete the gig.

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Although their musical output was limited - they released only six singles and never had a number one - they fostered a rare devotion among their fans. The band was also credited with inspiring a new generation of musicians - Razorlight's Johnny Borrell was briefly a member - and they also helped make skinny jeans, trilby hats and military jackets fashionable.

Even so, they were hardly household names when the band broke up. Doherty soon went from indie musician to tabloid bogeyman thanks to a turbulent relationship with Kate Moss. The pair met in early 2005 and their relationship lasted until mid 2007, throughout which time they were rarely out of the papers.

Even after they split up Doherty's continued problems with drugs kept him in the public eye. This month he was arrested on suspicion of supplying drugs following the death of friend and film maker Robin Whitehead. She was making a film about The Libertines.

Doherty now claims to have his drug problems under control and relations with Barat have thawed considerably. The pair did not speak for almost a year after the band split, but now seen to be friends again and have even performed together - but never as The Libertines.

The reunion will be eagerly anticipated by fans, and it is suggested that if things go well the band may even return to the studio. Barat has no other commitments after his band Dirty, Pretty Things, formed with ex-Libertines members, split in 2008. However, Doherty's new group, Babyshambles, are signed to Parlophone and are believed to be recording their third album.

One fan of The Libertines told The First Post: "It's pretty exciting news and tickets to Reading and Leeds will be like gold-dust. I just hope Pete turns up. Most people believed that The Libertines had at least one more great album in them so the fans will be hoping that they head back to the studio."