Paula Abdul, Randy Jackson and Simon Cowell (R) arrive onstage for the finale of 'American Idol' in Los Angeles.By sealing the US deal with Fox, Cowell will quadruple his current 25 million pounds a year, which means that he would rake in a whopping 2.2 million pounds an hour on screen.
And his new business partner, Topshop mogul Sir Philip Green, is negotiating the agreement.
Cowell, 49, is seen vital to the survival of the ailing American network, which makes 450 million pounds a year from advertising on the hit talent show.
The network signed up American Idol’s cheesy host Ryan Seacrest for a three-year deal worth 30 million pounds and is now closing in on Cowell.
"The word went out from on high to pay Simon what he needs," the 'Mirror' quoted a Fox insider as saying.
The source added: "Without him the show would be a shadow of itself. And without American Idol we’re in the dumper."
Cowell will also soon be in renewal talks over his ITV contract, which is likely to be less than his current 20 million pounds deal over three years.
