Britney Spears is working out the "fine points" of her X Factor deal and an announcement is expected to be made within a week.

Following months of speculation, it appears that Britney's involvement with the US TV show will be confirmed in the next few days. She is finalising the terms of a contract worth an estimated $15 million to join the new season of the talent series.

The majority of the agreement has reportedly been decided, and there are just a couple of smaller things to be settled.

"We're told Britney's team and X Factor big wigs are working out the fine points' of the deal, but the major terms are locked," reports TMZ.

Once the contract has been signed it will be sent to Britney's father Jamie Spears who is co-conservator of her personal and professional affairs.

The deal must be approved by Jamie and also the judge and lawyers involved in Britney's conservatorship.

This is not expected to be a problem and it is a "virtual certainty" that the terms will be agreed, reports the website.

Simon Cowell, who is a judge and executive producer on the US version of The X Factor, has confirmed the show is in talks with Britney.

"I would love to have her on the show. I think she would be a fascinating person to sit next to," he told TMZ Live on Tuesday.

The music mogul also confirmed there could be an announcement within a week.

It has been reported that TV bosses are willing to pull out all the stops to get Britney on the judging panel.

Simon is said to be eager to sign Britney up for at least the next two seasons of the show.