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Simon Cowell Signs One Direction?

Never fear girls, SiCo has reportedly given the lads a record deal...

Simon Cowell has allegedly signed his The X Factor act, One Direction, after they failed to win the competition on Sunday evening.

CHECK OUT THE ONE DIRECTION BOYS IN OUR GALLERY HERE!  

According to the Herald, the music mogul has offered the boyband a multi-million pound record deal with his SyCo label.

CHECK OUT PICS OF THE 2010 X FACTOR FINAL IN MTV'S GALLERY HERE!!

After their exit from the final over the weekend, Cowell said of One Direction: "I am absolutely gutted for them. All I can say is this is just the beginning for these boys."

Now it has been reported that they have landed a £1.2 million recording contract and will be working on new material with producer Steve Mac, the man behind 2008 XF runners-up JLS.

As we previously reported, it had been rumoured that despite the outcome of this weekend's final, the band, consisting of Liam Payne, Harry Styles, Zayn Malik, Louis Tomlinson and Niall Horan, were already guaranteed a record deal.

WATCH XFACTOR JUDGE SIMON COWELL'S OFFICIAL TOP 50 HERE!

Sources claimed that their signing was a "done deal" with Cowell eager to make the One Direction lads "edgy" much like JLS or nineties boyband, East 17.