It would seem that all the speculation regarding Britney Spears participation in this years X Factor USA, it has finally been revealed that a contract has now been signed confirming her new judging role.

According to reports, the Womanizer singer will receive $15 million (£9.3m) for the season, sat next to Simon Cowell and LA Reid during the new series due to begin later in the year.

A source told E!Online :”The contract is signed. There’s been a lot of back and forth over the past few weeks as they negotiated the small details, but she’s on. It’s all completed and Britney is beyond excited,” the source explained.

“She’s ready for this. She can’t wait to sit down next to Simon at the judges’ table and give this everything she’s got. She is excited about showing the world that she can do this, and do this well. This is the perfect next stage in her career. Both Britney and Simon are very excited to work together.”

If reports are to be believed, this leaves just one vacant judging role left, with names circling the table as Demi Lovato and Chaka Khan, who recently expressed a public desire to join the show, as front-runners for the job.

Watch Britney Spears’s X Factor performance of her single, Criminal, below: