The hit TV show Dragon’s Den is facing a major shake-up with some of its millionaire panellists set for the chop, according to the papers.

The News Of The World reports that the BBC is secretly planning to make some changes to the show for the next series – and James Caan, Deborah Meaden and Theo Paphitis are among those who could find themselves being replaced.

However the wealthiest ‘dragons’ – Peter Jones and Duncan Bannatyne – are likely to stay on the show, with reports that a number of younger panellists will be recruited to join them.

“The producers are planning a big overhaul of the show,” an insider told the paper.

“They’re approaching a lot of new businessmen and women – they’d like some younger millionaires and more women on the panel too.”

Among those rumoured to have been approached for the show is James Simpson, the boyfriend of model Sophie Anderton.

“He’s exactly the sort of dragon they want. He’s young, self-made and would bring glamour to the panel,” the source added.

However a BBC spokesman denied that any changes were being planned for the next series of the show.

“It is far too early to talk about the next series and any comment on who the Dragons may be is nothing more than pure speculation,” he said.