Simon Cowell ‘to sign £20million deal with ITV’

London: Simon Cowell is all set to sign a new deal with ITV to stay on ‘X Factor’ until 2013, which would fetch him a whopping 20 million pounds.

This would also mean an extra 4million pounds will be put into the series every year.

The contract, set to be for at least two or three years, could also see the music mogul take a more prominent role on ‘Britain`s Got Talent’.

Both shows will be flexible to adjust dates in order to fit with Simon`s US schedule.

Simon said that he planned to do ‘nothing’ in the UK next year, reports the Sun.

However, ITV wants to safeguard its two top shows.

Simon will get an extra 1million pounds on his 6 million pounds-a-year deal, said sources