Cowell is heading into the final year of his current contract with the show but, according to The Hollywood Reporter, is finalizing a deal with Fox to continue with "Idol."
"We've heard from Fox, who has asked us for approval for Simon Cowell to appear for three more years on 'Idol,'" Robert Sillerman, CEO of the parent company of "Idol" co-producer 19 Entertainment, tells THR.
"They, in their negotiations with Cowell, have asked us to pre-approve him not only for 'American Idol' '09, which has begun taping, but they have also asked us for approval for '10 and '11, indicating to us that they're finishing their negotiation with Cowell. We did grant approval for that quite obviously."
Paula Abdul announced last week that she will not be returning to the show. THR reports that Cowell is set to earn $45 million a year under his new contract, a jump from his $36 million a year current pact.
It's down to the Final Four, who is your pick for winner of Season 8 American Idol?
Kris Allen
Allison Iraheta
Danny Gokey
Adam Lambert
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