Simon Cowell's 20m contract

Simon Cowell

Simon Cowell

Music mogul Simon Cowell has reportedly been offered a new contract worth £20 million, which will see him stay with ITV1 until 2013.

Simon Cowell has been offered £20 million to renew his ITV1 contract.

The music mogul - who announced plans earlier in the year to launch 'The X Factor' in the US - is reportedly set to sign a new multi million pound deal, which will see him stay with ITV1 until 2013.

An extra £4 million will also be invested in the UK version of the talent search show in a bid to encourage the fiery-tongued judge to stay at the channel.

Simon's close friend Sinitta has admitted she doesn't think he will quit either 'X Factor' or 'Britain's Got Talent'.

She said: "The guy is a workaholic. I think he enjoys complaining as much as he likes working too hard. I think he'll do both. He'll be tired and then just take a big holiday."

This comes after the reality television judge recently revealed he may not be doing any shows in the UK next year.

He said: "At the moment you are going to see me doing one show next year - and not one in England. I have a contract for this year and that is it."

The multi-millionaire is due to start filming the US version of 'The X Factor' in September, when the British talent show should already be in full swing.

Simon explained: "It will have to move. Do people want it back? I am going to sit it out for a few more weeks before I make a final decision. And it has to be fun. The minute it stops being fun, bye bye."


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