New X Factor judges Tulisa, Kelly Rowland and Gary Barlow are set to be offered twice as much money for the next series of the show, according to Mail Online.

The website reports that Simon Cowell is so happy with his new panel that he is already set to offer them contracts for 2012 – complete with a bumper pay day.

“This is the best the show has ever been,” he reportedly said.

The deal would mean Tulisa would earn around £500,000 for the next series, while Kelly’s salary would shoot up to an impressive £800,000.

And it would put paid to any speculation that Cheryl Cole might return to the judging panel for a future series.

“Tulisa and Kelly will definitely be back. Simon believes Tulisa is the next Cheryl and will be even bigger,” an insider said.

“At first Simon was worried about Cheryl not being on the show but those worries have now disappeared.”

The mogul also raved about his new panellists on ITV2’s spin-off show The Xtra Factor on Saturday night.

“I think they’re great,” he said. “Gary’s like a producer and he knows how to spot a star. Kelly, she’s like an athlete, and it’s this American professionalism – always, always on it.

“And Tulisa, she’s like the lippy brat, right? I like that. She’s bolshy. She has a good ear. I think they’re gonna do well.”