Bravo offered the 43-year-old reality star "well over $1 million" to return for the seventh season of the series, according to Page Six. Sources tell the publication the network believes Frankel's return would help boost the program's flagging ratings.
Frankel first appeared on the reality show in 2008, and starred for three seasons before departing.
She later received two spinoff shows on Bravo, "Bethenny Getting Married" and "Bethenny Ever After." The series documented her marriage to Jason Hoppy, and saw her give birth to their daughter, Bryn.
The reality star and Hoppy separated in December 2012, and filed for divorce in January 2013.
Frankel shares a close relationship with "The Real Housewives" executive producer Andy Cohen, and told People last week the pair do have plans in the works. The reality star was careful to say she hasn't signed a new contract for Season 7.
"We're talking about a couple of different things and deciding together what we're going to do," she shared.
"The Real Housewives of New York City's" seventh season is expected to star LuAnn de Lesseps, Sonja Morgan, Carole Radziwill, Heather Thomson, Kristen Taekman and Ramona Singer.
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