The official announcement of judges will reportedly be made as early as Friday night, September 29, considering shooting begins Tuesday, October 3.
However, the Idol's announcement could be delayed if Richie and Bryan's lawyers attempt to continue negotiations.
The production sources told TMZ the show has blown its budget sky high, largely because Perry had already been promised a whopping $25 million contract and Ryan Seacrest will be making somewhere between $10 and $15 million to host the series.
Bryan reportedly agreed to serve as a judge for around $13 million, while Richie -- a singer, songwriter and record producer -- will be receiving close to $10 million.
Perry gushed to Seacrest -- who hosted all 15 prior seasons of Idol when it aired on Fox -- during an OnAir with Ryan Seacrest radio-show interview last month about what it would potentially be like to work with Richie on American Idol.
"I'm really pulling for Lionel, because I think Lionel is an icon, and not only that, if you've ever seen or met Lionel, he just knows how to charm the whole room," Perry explained at the time. "He's such an artisan with words and his presence just lights -- it brightens the whole room. So, I love Lionel."
American Idol is reportedly slated to premiere in early March, shortly after ABC's March 4 broadcast of the Oscars.