Britney Spears is in the running to become the next judge on X Factor, but there is one big issue - money.

The Hollywood Reporter is saying that Spears' fiancé, Jason Trawick, is negotiating the contract and could be signed next week if the money is right.

A source told E! News that the parties have been negotiating for some time and The Hollywood Reporter is saying that Simon Cowell initially approached Spears.

Cowell hinted at the possibility of Spears becoming a judge on X Factor last month, but would not confirm anything.

There's going to be a lot of twists and turns over the next few weeks and a lot of things we're going to announce, Cowell said.

Reports say that Spears has been offered $10 million for the deal, but wants $16 million. Sources are also saying she is undergoing extensive media training for the show.

Earlier this year after judges Nicole Scherzinger and Paula Abdul were let go from the show, several names were floated around as possible replacements including Beyonce, Mariah Carey and Janet Jackson. Jackson had to decline citing her tour as a prior engagement.