Lately there's been speculation that Britney Spears is in talks to judge the sophomore season of Fox's "X Factor," but the singer is finally close to closing a $15 million deal with the network, TMZ reports.

The debut season of Simon Cowell's singing reality show ended with major shake-ups, with two of the four judges -- Nicole Scherzinger, who reportedly pulled in $1.5 million and Paula Abdul, who netted $2.5 million -- leaving the show. The host, U.K. television personality Steve Jones, was also let go.

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Remaining judges Simon Cowell and L.A. Reid will be joined by Spears -- if her contract negotiations go through -- and presumably one more judge. Earlier this year, rumors of Mariah Carey and Beyonce joining the panel circulated, but were quickly shot down by Cowell himself.

The major terms of Spears' contract have reportedly been locked down, and the legal teams are just sorting out the fine points. An official announcement is expected in the next week.