The new X Factor 2016 judges cost Simon Cowell a LOT of money

Manchester Auditions Day 1

After months of rumours and speculation, The X Factor 2016 judges were finally confirmed today.

Rock royalty Sharon Osbourne, pop sensation Nicole Scherzinger and chart maestro Louis Walsh, will sit alongside The X Factor creator and music mogul Simon Cowell on the panel.

It's just as all the reports had said and if those stories are to be believed again, the new line up set Simon back a lot in cash.

According to the tabloids, Nicole, Louis and Sharon each signed deals said to be worth around £1 million a piece.

But will the trio be worth it? Unlike some of last year's panel, all of this year's lot have been regulars on the show in the past and proved a hit.

In 2013 they all appeared together, then alongside Gary Barlow.

Now with Simon Cowell heading up the judges' desk, it seems as though the revamped line up has won over fans on paper at least.

Nicole is always a treat to watch, we already know pretty much every line Louis will come out with and we're super excited for Sharon and Simon to be together again.

When filming starts later this month it'll be the first time in almost a decade that the pair have been on the show alongside each other, with Simon recently saying of their past feuds: "We mainly have a love relationship. It is always back to love."

Meanwhile, bookies have installed Nicole as the favourite to mentor this year's X Factor winner.

As the line up has finally been confirmed it is a 2/1 shot Nicole returns to the show with a bang, or there's 3/1 on offer that Sharon or Simon land the spoils with their act.

Unfortunately for Louis a win is already deemed an outside chance at 4/1.

Jessica Bridge of Ladbrokes: "It won't be long before the claws are out, but the early vibes give Nicole the nod for a second win."

The X Factor 2016 will air on ITV later this year.

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