Simon Cowell is reported to have negotiated a new deal which will see The X Factor and Britain’s Got Talent run in the UK until 2016.

The Sun reports that the deal between Cowell’s production company, Syco and ITV, could be worth up to $150 million despite the declining popularity of the shows.

It is claimed that the deal will see him make a return to one of the long-running shows with the possibility of him appearing on both. He has not been a judge on The X Factor since 2010 when the US version of the show was launched.

In the US the judging panel has seen several changes of personnel featuring Britney Spears, Demi Lovato, Kelly Rowland and of course Cowell himself but has failed to live up to the ambitious audience figures which were predicted.

Judges on the UK version Gary Barlow and Louis Walsh have both said they will bow out at the end of the current series.