Simon’s Big Pay Day

BATD ON Jan 20, 2010 AT 11:16 am

Simon Cowell

Simon Cowell

As if he needed any more money Simon Cowell has signed a $500 million deal with Sony. His new two-year contract with the entertainment giants will see him rake in the staggering sum – expected to tip his fortunes close to the $1 billion mark – as he launches Syco TV to produce and sell the formats for his ‘X Factor’ and ‘… Got Talent’ franchises. Simon – who also heads up record label Syco and is expected to sign a new £10 million deal with UK TV network ITV – said: “I have had a fantastic relationship with Sony for many years and I’m delighted we are launching this venture together.” At $500 million we bet he is happy.

A source added: “He is truly in the driving seat. He felt like an employee before, but now he has some real ownership and is thrilled to be side by side with Sony.”

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