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Katy Perry has been named the bookies favourite to replace Cheryl Cole as a judge on 'The X Factor'.
News Of The World reported that Cheryl and Simon Cowell were to leave the show in order to join the newly launched 'X Factor USA'.
Bookmakers William Hill have made Katy 7/2 favourite to join the judging panel, while Gary Barlow and Sharon Osbourne are both 4/1.
William Hill spokesman Joe Crilly said: 'Katy Perry was very well liked when she appeared on last year's show and the odds suggest that she is in pole position to either take over from a departing judge or become a fifth judge on the show'.
Robbie Williams, Michael Buble, Sinitta, Geri Halliwell and Paula Abdul have all been linked to the show.