Cruise was recently named the world's most powerful celebrity

Financial backing from US football team owner Daniel Snyder "will allow us to continue doing what we were doing," Paula Wagner told Reuters.

Cruise ended his 14-year association with Paramount Pictures last week, with the film studio stating "his recent conduct had not been acceptable".

Cruise and Ms Wagner must find another partner to distribute his films.

'Premature'

All parties in the arrangement refused to discuss financial details, but the deal is only expected to cover overheads and development costs, not film financing.

Ms Wagner said: "This is not a deal about money as much as it is about access and our futures," adding Mr Snyder would give Cruise access to new areas, and the ability to make films outside Hollywood's major studio system.

But she said it was "almost premature" to announce specific projects.

Mission: Impossible III did not live up to box-office expectations

Both Paramount and Cruise claimed to have severed ties after the split was announced last week.

It is believed that Cruise's high-profile relationship with Katie Holmes and his views on subjects such as anti-depressants may have constituted the actor's "unacceptable" conduct.

Ms Wagner said she and Cruise had been planning to independently finance films "for a long time", and said it would take them in a "very new and exciting direction".

During the past decade, Cruise's films - which include the three Mission: Impossible movies - have generated more than $2bn (�1.05bn) worldwide.

But the third Mission: Impossible film put in a relatively disappointing performance at the box office.