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After months of eight-figure negotiations, Spears reportedly finalized a deal that will earn her an eye-popping $15 million for one season of judging. That's more than Jennifer Lopez makes on American Idol!
"The contract is signed," a source close to the star tells E!. "There's been a lot of back and forth over the past few weeks as they negotiated the small details, but she's on. It's all completed and Britney is beyond excited."
And though Spears, Cowell or Fox has yet to comment, a separate source also confirmed the news to Us Weekly on Wednesday.
After the show's inaugural season, Cowell shook up the cast lineup by firing host Steve Jones and both of his female celebrity judges -- pal Paula Abdul and Pussycat Dolls singer Nicole Scherzinger -- and he has spent the past four months looking for the perfect replacements.
At that price tag, Spears better be nothing short of amazing -- especially considering this is her first regular television gig since the five-episode Britney & Kevin: Chaotic reality series with ex-husband Kevin Federline back in 2005.
"She's ready for this," the E! insider continues. "She can't wait to sit down next to Simon at the judges' table and give this everything she's got. She is excited about showing the world that she can do this, and do this well. This is the perfect next stage in her career. Both Britney and Simon are very excited to work together."
Now the big question is: Who will Simon find to fill that other judge's seat?