Britney Spears is on the verge of announcing a lucrative new deal to perform a string of shows at the Las Vegas music mecca created for Celine Dion's A New Day residency, according to U.S. reports.

Insiders suggest the pop star has signed a $200 million (£125 million) two-year contract to take over The Colosseum at Caesar's Palace.

Spears will grace the stage on which Sir Elton John, Cher, Bette Midler and Rod Stewart have performed, as well as Dion and Shania Twain, who is currently the queen of The Colosseum.