Michael Jackson fan Lady Gaga is thought to be considering opening a museum to showcase her collection of the Thriller star’s memorabilia, believed to be worth around US$1.25m (£700,600, €900,000).

Gaga has been collecting the late pop star’s treasures from all across the globe, with the singer acquiring Jackson’s famed Swarovski-encrusted crystal glove at a cost of £117,800 (US$193,000, €141,000).

The 27-year-old also purchased 55 separate items from an auction of Jackson’s possessions in 2012.

"Gaga is a huge Michael fan, and she feels that there needs to be a real museum to celebrate his life and work," a source reportedly told The Mirror.

"She has been stocking up on items from all over the world. Some of her purchases have been under different names so that she is not overpaying for artifacts.

"But now she has a few pieces she is planning out the next stage of where the location for the museum should be. She’s considering Gary, Indiana where Jackson started his career, her hometown NYC or Los Angeles, close to his Neverland home."

If Gaga does decide to pursue with the venture, the singer may face opposition from the office of the estate of Michael Jackson, which still owns the rights to his music and image.

Neither Gaga’s office, nor the estate of Michael Jackson, has moved to confirm or deny the reports.

The speculation follows on from a story revealed last year, which linked Gaga with seeking to acquire Jackson’s Neverland theme park.