Despite turning down earlier offers, sources suggest that musical legend Elton John is close to signing a deal for American Idol 2011.

The ‘Candle In The Wind’ singer was asked to join the show, after Simon Cowell revealed that this will be his final season on the judging panel. Cowell wants to launch an American version of his X Factor show next year and Fox bosses are said to be keen to replace him with someone well respected in the music industry.

Elton is thought to have met with producers last week, while in New York for the Time magazine 100 gala in honour of the most ­influential people of the year. They are believed to have offered him more than the £22million a year that Simon Cowell commands.

One of the show’s 20 producers told The Express: “Everyone loves Sir Elton. As well as being outspoken, he has an air of gravitas as an icon of the music industry.

“He’s British too. Having Sir ­Elton on board would be a ­guaranteed ratings blockbuster all over the world.”

Elton recently performed on the annual Idol Gives Back charity fundraiser, watch the video of his spellbinding performance here.

Another senior Idol ­insider said: “Part of the pitch to get Sir Elton on board was that the show can become an even bigger fundraiser for various charities. We’re barely more than a cat’s whisker away from getting ink on paper.”

Would you watch Elton on Idol? We think he’d be a great judge, though possibly even nastier than Simon Cowell. Leave your comments below.