Simon Cowell has reportedly lost a $20,000 bet against L.A. Reid after his rival's act won 'The X Factor'
Simon Cowell has lost $20,000 in a bet with L.A. Reid.
'The X Factor' USA mentors reportedly placed the wager at the beginning of the second series - which came to an end on Thursday (20.12.12) - that one of their act's would be crowned the winner, which would see the victorious judge win $20,000.
A source told gossip website TMZ.com that the 53-year-old British judge lost the bet when L.A.'s act Tate Stevens - who was in the over 25s category - received the highest number of public votes and announced the champion.
But the insider insisted that Simon hasn't displayed any signs of being a sore loser and plans to send his rival - who recently announced he would not return to the reality series next year after two seasons on the judging panel - a cheque as soon as possible.
Simon Cowell recently insisted L.A. is already regretting quitting the show to concentrate on his job as chairman of Epic Records.
However, the 56-year-old record producer - who is joined on the panel by Simon, Britney Spears and Demi Lovato - knew he would only make a short-term commitment to the series, but will continue to work with the 'X Factor' boss on other projects.
He explained: ''I came into this knowing that it wasn't gonna become my life.
''Simon and I are really good friends, and he knew at some point I needed to get back to work.''
With the passing of each decade, the music industry is constantly set alight by the...
Filmmaker Spurlock (Super Size Me) is known for his investigative wit, but there's none of...
British pop heartthrobs One Direction became a worldwide sensation when they were thrust together on...
Niall Horan, Zayn Malik, Liam Payne, Harry Styles and Louis Tomlinson may make up the...