The I Wanna Go singer demanded $18 million -- a $3 million pay rise on her previous contract -- to appear on the talent competition in 2013.
But those connected with the FOX series felt that the 31-year-old Toxic singer just wasn’t worth the hefty price tag!
“When producers asked if she wanted to return for a third season of The X Factor, Britney's reps said she would only come back if she was offered $18 million,” a source tells RadarOnline.
“But after much deliberation, they just felt that Britney wasn’t worth that much because she wasn’t bringing enough to the table.
“Her performance as a judge was scrutinized, and she didn’t really add anything to the show. They felt she didn’t warrant a $3 million pay hike.
“When she originally signed up for $15 million last season, it was stressed that was as far as the network could go financially for her.
On Friday, Spears confirmed in a statement that she was leaving the musical competition series.
“I've made the very difficult decision not to return for another season. I had an incredible time doing the show and I love the other judges and I am so proud of my teens but it's time for me to get back in the studio,” the statement read.
“Watching them all do their thing up on that stage every week made me miss performing so much! I can't wait to get back out there and do what I love most.”