“Jon is the undisputed top contender to succeed Katy,” the source said.

“A living legend with undeniable charisma, he possesses all the qualities necessary to command the stage and captivate TV audiences.”

But there’s reportedly an issue with money.

Jon has “astronomical financial expectations,” reportedly expecting a $25 million paycheck.

“The crux of the matter is money. To secure a true rock icon of his caliber, one must invest accordingly!” an Idol insider said.

Once news broke that Perry planned to leave American Idol at the end of the current season, everyone, including her fellow judges, immediately began to wonder who would replace the “Teenage Dream” singer.

“This has been a very stressful time for Luke and Lionel because they’ve been left in the dark about so much — there was even talks that producers were going to start fresh with a whole new lineup and give them the boot. That hasn’t happened, so now the next worry is who will join the show.”