Simon Cowell's 24m offer
ITV's £24 million offer to Simon Cowell to renew his contract for a further three years is their final offer
Simon Cowell has been offered £24 million to renew his ITV1 contract.
The music mogul - who announced plans earlier in the year to launch 'The X Factor' in the US - has been offered the enormous sum to stay at the network until 2013, but sources say this is a "take it or leave it" package and ITV won't be increasing their offer if he declines.
A source said: "Everyone knows how important Simon is to ITV, so we've been walking on egg shells trying to get him to sign up for a longer deal. But with an offer like this on the table, several people are a bit fed up with his stalling."
The reality television judge - who works on the 'X Factor' and 'Britain's Got Talent' for the TV station -recently revealed he may not be doing any shows in the UK next year while he focuses on launching his new talent show overseas, and bosses are already making contingency plans for a future without him.
The source revealed to the Daily Mirror newspaper: "ITV produces some of the best shows in the world and if Simon walks away it will be tough but they will find new hits.
"ITV have to find those hits to survive in the years to come anyway. We don't want to lose him but we don't want him here half-heartedly either."
Simon Cowell's shows bring in an estimated £200 million to the broadcaster every year.
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 recently 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."