Simon Cowell lands 25m pay deal

Los Angeles - Simon Cowell has been offered £25 million to return to The X Factor.

The music mogul will reportedly sign a three-year contract with ITV to return to the judging panel of the show, as well as continuing with Britain's Got Talent, and is expected to accept the offer once he is released from the US version of the talent show, which is likely to happen within the next few days.

A source told The Sun newspaper: "ITV are preparing for him to return to the UK X Factor and BGT so have structured the deal to take in both shows.

'"If he only does one then he won't get the full package - but everyone is hopeful that will not be the case.''

However, if the American show is recommissioned for a fourth series with Simon still on the panel, his UK pay will be halved.

The insider says he is ''95% certain'' to be freed for the British show, but added: ''There are still more meetings to go''.

Simon created The X Factor in 2004 and was on the judging panel until 2011, when he left to work on the US version of the show.