Dermot O'Leary has signed an £8 million contract to host 'The X Factor'.
Dermot O'Leary
The 43-year-old television presenter - who will return to host the talent show after he was replaced by Olly Murs and Caroline Flack in last year's series following his eight-year run - has reportedly landed a record-breaking contract as a solo presenter with his new four-year deal for the series.
Speaking about Dermot's new gig, a source told The Sun newspaper: "It's completely unheard of for one presenter to be paid £8million to host one show.
"There hasn't been a deal like it since Jonathan Ross was getting millions a year from the BBC to host his chat show."
Meanwhile, Simon Cowell - who will reprise his seat on the judging panel alongside Sharon Osbourne, Louis Walsh, Nicole Scherzinger - has admitted Dermot's departure in 2015 was a "misunderstanding.
Speaking previously the music mogul said: "He [Dermot] came out to see me in Los Angeles.
"He may have thought it was going to be an awkward meeting but it was one of the easiest I've have ever had.
"I think there was probably a misunderstanding. I thought he wanted to go and he probably thought I wanted him to leave. Neither of us, being stubborn, spoke to each other and then we realised that we miss him."
However, the BBC Two radio presenter holds no hard feelings, and is "flattered" to be making a comeback on the hit reality television programme.
Speaking previously, he said: "I'm very flattered to be asked back to 'The X Factor', and am currently dusting off my dancing shoes.
"There is nothing more exciting than hosting live TV on a Saturday night."
And he has joked the new panel will "keep him on his toes".
Following the announcement the judges will saddle up alongside the 56-year-old music mogul, Dermot wrote on Twitter: "Well ... That'll keep me on my toes (sic)."