Britney Spears allegedly rejected that offer three weeks ago and is instead thinking about an offer to become a resident performer at a Las Vegas hotel like Celine Dion.
It appears that Britney Spears’ camp want $20 million for her to do the job.
A spokeswoman for The X Factor refused to confirm or comment on the speculation.
There are two vacant spaces to fill alongside Simon Cowell and L.A. Reid after Paula Abdul and Nicole Scherzinger were fired.
Sources have told Us Weekly and Sunday World that Britney Spears has her eye on the job.
One insider close to newly-engaged Britney Spears told Sunday World: “The timing is perfect. Brit would love to connect with fans on a weekly basis and loves working on TV after several guest appearances on the sitcom How I Met Your Mother.”
Almost 10,000 fans have voted for Britney Spears to appear as a judge on fansite breathheavy.com.
Back in 2008 Britney Spears performed Womanizer on the British version of X Factor – but was heavily criticized for miming.
Fox has still not confirmed who is to replace Nicole Scherzinger and Paula Abdul.
British judge and Simon Cowell cohort, Louis Walsh also confirmed that the iconic star was in talks to join the team.
Janet Jackson, 45, told Insider.com that she is “very flattered that X Factor let me know that I was being considered for next season, but it just wouldn’t be possible”.
The singer said that the move would be “unrealistic” as she is already committed to her Number Ones Up Close and Personal Tour.
A representative for Janet Jackson added: “There have been absolutely no meetings between Janet and anyone with regard to X Factor.”
However, in the wake of Whitney Houston’s death, Simon Cowell revealed he had been considering her for a role on the judging panel.
Another name rumored was Beyonce.
But Simon Cowell publicly refuted reports he was offering Beyonce $500 million to sign a five year contract.
Simon Cowell told Extra the budget for the show is $100 million a year and said he would never dream of paying anyone that much money.
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