The deal for the talent shows is said to be worth millions of pounds and will ensure the programmes stay on ITV for the next three years.
There have been meetings recently between Simons producers and ITV executives to thrash out some of the details, but Simon is already planning how to build on the shows successes on ITV, an insider claimed.
Everyone is looking forward to the future.
They explained that the finer points of the deal are still being sorted out, adding to The Mirror: Whilst there may be some details in the paperwork still to be ironed out, from a fans point of view it is a three-year deal which means these much loved shows will remain on ITV for a long time to come.
There had been some uncertainty over the future of the X Factor, with the format as we had known it in the past being scrapped in favour of a celebrity and all-stars version instead.
Britains Got Talent: The Champions will also air on ITV this year, bringing back favourites from previous series.
Its thought that the deal will be similar to the one Simon signed in 2016 which bagged him around £25million.
Celebrity X Factor is currently filming, with stars including a Love Island supergroup flying out to Simons LA mansion for Judges Houses.
Vinnie Jones was one of the names that had signed up for the show, but his involvement is uncertain following the death of his wife this week.
A source told the Daily Star: Vinnie was all set to film the show this week but after Tanyas devastating death everything is up in the air.
More: The X Factor
Obviously Vinnies well-being comes first and there would be zero pressure for him to start filming with The X Factor if he doesnt want to.
Producers have made it very clear that the priority is Vinnie and his family right now and not the show.Read More – Source