Lebogang Boshomane

Britney Spears is close to signing a $15 million deal to become a judge on The X Factor, according to reports

This deal comes after two judges' spots opened up when Paula Abdul and Nicole Scherzinger left the show after the first season.

E! News has quoted a source who confirmed the deal although saying no paperwork had been signed.  "No paperwork has actually been signed yet," the source explains. "But they finally came to terms. It was a long negotiation . . . Britney was a natural fit."

If concluded the deal will make Spears the highest paid judge on reality television, eclipsing Jennifer Lopez's $12 million deal for American Idol.

A representative for X Factor has refused to confirm the deal, insisting that "nothing has happened and nothing has changed," and claiming that the report is "wildly exaggerated."