Simon Cowell has revealed the winner of the US X Factor will get a whopping $5million recording deal.
The show’s producers, Fox, say it will be the biggest guaranteed prize ever on television, and the new series will start in the autumn.
Cowell left American Idol last year but has yet to announce this year’s judges, leading to rumours about everyone famous in America, and Cheryl Cole
With auditions starting on 27th March in Los Angeles, Simon is getting excited about the new series.
Cowell said: “The top contestant will get $1 million (£619,000) a year for five years, separate from the costs involved in recording and promotion.
“It’s a massive, massive risk but it’s also an incredible incentive. It puts everybody, rightly, under an enormous amount of pressure.
“I believe I can find a star.”
He did admit however, “If they don’t sell a single record they still get to keep the money. It is pressure, because if the wrong person wins, I’m in trouble.
“We’ve got to find somebody fantastic to get the money back [through record sales].”