The Black Eyed Peas star, who has looked after Cheryl's career since her attempt to crack the States last year, tells The People this weekend that the pair were set to record together before Jackson’s untimely death.
The tabloid quotes Will as saying: "I told Michael Cheryl was the hottest thing in the UK and he was keen to meet her, I was gonna write them a song."
Cheryl is set to release her third solo album later this year, with Will saying the record will be the singer's "best yet".
He said recently: "The thing is with Cheryl, she makes the best of every situation and always comes out fighting.
"Nothing will ever keep that girl down for long, and I do mean nothing. She is an inspirational person."
Meanwhile, Cheryl’s former band mate Nadine Coyle has revealed today that Girls Aloud are set to reunite in 2013 for an arena tour.
She teased: "I know everyone’s been speculating about what we will do. It will be arena dates at the start of next year and we will have new music to go with it."