Pepsi to sponsor US 'X Factor' for $55m

Simon Cowell’s US ‘X Factor’ has signed $55m (€41.7m) sponsorship deal with Pepsi.

The 51-year-old star and his fellow judges will be seen drinking the beverage during the show and backstage in behind-the-scenes footage, with the music mogul is said to be delighted to have landed such a huge promotional deal.

A source said: “The deal is ostensibly between broadcaster Fox and Freemantle who make the show, not between Simon and his company Syco.

“But it’s a massive coup for him – and shows how the big brands are all desperate to be associated with a man deemed to have the midas touch.”

The sponsorship deal is a huge boost for the music mogul as he prepares to launch the Stateside show next year, with main rival, Cowell’s former show ‘American Idol’, enjoying a similar yet smaller deal with Coco-Cola worth $35m (€26.6m).

The source added to the Daily Mirror newspaper: “The icing on the cake is that 'American Idol' – which Simon used to be a judge on – is sponsored by Pepsi’s biggest rival. Simon is absolutely thrilled.”

Details of the show are still being kept under wraps with Cowell set to announce the panel of judges – rumoured to include Cheryl Cole, Nicole Scherzinger, Noel Gallagher and George Michael – early next year.