Yesterday we reported that Victoria Beckham, Fergie and Mariah Carey may be in the running for judges seats on The X Factor. The Daily Mail suggests that the three divas may have to fight one legendary singer/songwriter for that spot.

According to the paper Simon Cowell has his eyes on dominating talent competitions. His secret weapon? Sir Elton John! Elton John appeared on American Idol while Cowell was a judge, working with contestants as a mentor. The Daily Mail is quick to point out that Elton John may be wanted, but if he can do it- that’s another story. He performs back-to-back each night in Las Vegas and he has an infant at home.

MediaTakeOut.com reports that Cowell is also offering Beyonce a ridiculous amount of money to get her to appear as a judge. A source told the publication, “He wants a big-name female star on the panel. Mariah Carey is good, but she’s not that hot today. He wants Beyoncé because that would immediately give him the bounce needed to beat American Idol.”

Rumor has it she’d be looking at a $100 million pay day. So.. Let’s do the math. Other rumors suggest Cowell will pay out up to $60 million for Ryan Seacrest as a host and $100 million for Beyonce. That’s $160 million he’s willing to shell out. Considering the ratings last season, this seems like quite the gamble.

Though no decisions have been made, there’s two guarantees for the second season of The X Factor- Simon Cowell will return with L.A. Reid. Though there is no official announcement, The Hollywood Reporter confirmed the news with show insiders.

The X Factor will be back in September with auditions beginning in June or July. This means we can look forward to months of speculations until Cowell and company get the line up just right.