Gossip site TMZ is reporting that Britney Spears and "X Factor" have struck a $15 million deal for next season.

Sources tell TMZ that Britney's team and "X Factor" big wigs are working out "the fine points" of the deal, but the major terms are locked.

Once the final contract is drafted and signed ... it will go to Jamie Spears, Britney's father and conservator, as well as lawyers for the conservatorship. If they sign off, it must then go to the judge who oversees the conservatorship for approval.

Simon Cowell, the "X Factor" Executive Producer, told TMZ Live Tuesday, "I would love to have her on the show. I think she would be a fascinating person to sit next to."

Simon said they may make an announcement within a week.




See also:

Madonna & Britney Spears flirt on Twitter
VIDEO: Simon Cowell talks Britney Spears on X Factor
Britney Spears nearing deal to become X Factor judge
VIDEO: Madonna calls Britney Spears a ‘good kisser’
AUDIO: Britney Spears - ‘Look Who’s Talking Now’ demo leaked
AUDIO: Britney Spears’ ‘Secret’ demo leaked
AUDIO: 2 unreleased Britney Spears songs leaked online
Britney Spears has Rolling Stone’s Top Song of 2011
Britney Spears gets engaged
VIDEO: Britney Spears dances to Marilyn Manson
Backstreet Boy to open for Britney Spears