Cheryl Cole could be offered a huge deal to return to The X Factor.

The 29-year-old pop star was sacked during the show's first series in 2011 before suing Simon Cowell's talent show for $2.3 million, but it's now being reported she could be offered a big contract to tempt a return for the former judge.

"This is a massive move from Simon. He's going right out there and saying that he made a mistake in sacking her. After she was shunted off the show, TV critics in the US said in reviews that she was the best thing about the program - and it seems for once that Simon was wrong. Over the past two seasons, the X Factor hasn't performed as Simon would have wanted - now it looks like Cheryl will be the savior," a source said.

The insider speculates the Girls Aloud singer might not accept the deal after the added "humiliation" of being replaced by Nicole Scherzinger on the UK version of the show.

"It's going to be tough sell for Simon after the humiliation she originally suffered, but if he plays it right, it could happen and it would be a viewer's dream. Cheryl has been quite adamant that she doesn't want to head back to the UK version of the show after leaving so getting a slot on the US one would be perfect," the source continued.

It's reported the music mogul is planning a big multi-year deal to tempt the star back onto the show, but nothing is certain. "He's planning to put a massive contract on the table in the coming weeks, giving her the opportunity to return and prove him wrong once and for all. Obviously, there's no certainty that she will decide to go for it, but it appears to be the closest right now to Cheryl returning to the X Factor family," the source added.