updated 07/20/2012 AT 4:00 PM ET
•originally published 07/20/2012 AT 6:10 PM ET
Contrary to reports that Lopez asked for a $2 million raise to continue judging the Fox reality show for a third season, the source says that Fox did approach Lopez with a “comparable offer to last year’s salary” for next season, but it was never countered nor negotiated by her team.
For her first season on the show, Lopez earned $15 million. And she did get a raise for her second season, the source says, because Fox understood the value she brought to the series. Her second year salary was $20 million plus bonuses, says the source. PEOPLE reached a Fox rep who had no comment.