While it was reported earlier this month that Latin singer Enrique Iglesias would be the fourth Idol judge, it appears that Randy Jackson will be staying at the judge's table on the hit talent show.

Entertainment Weekly stated that Iglesias had received an offer for about $4 million per year to join the panel, but the negotiation did not work out.

According to TMZ, Jackson is now close to signing his deal after producers had tried to make him a mentor instead of a judge, a plan that sources claim Jackson was not pleased with. He has been a judge on the show since it debuted in 2002.

One person who is happy to see Jackson remain on the panel is former judge Simnon Cowell, who tweeted to his 3.6 million followers, "Just heard Randy is back on Idol. Right decision."

Rocker Steven Tyler and singer Jennifer Lopez were with "Idol" for two seasons before recently departing from the show."I honestly feel like the time has come. I know I have to get back to doing the other things I do" Lopez told Ryan Seacrest, the host of "Idol," last month on his radio show.

Diva Mariah Carey was signed to the show on July 23, for a reported $18 million, and it is speculated that rapper Nicki Minaj and country artist Keith Urban will be joining her on the judges' panel this season. TMZ reports that negotiations with Urban and Minaj could be finalized any minute.