Sir John turned down the proposal from Fox TV when they offered him the job in January.
However, he again met the executives while in New York for the Time magazine 100 gala in honour of the most influential people of the year, reports the Daily Express.
'Everyone loves Sir Elton. As well as being outspoken, he has an air of gravitas as an icon of the music industry,' said one of the show's 20 producers.
'He's British too. Having Sir Elton on board would be a guaranteed ratings blockbuster all over the world.'
'Part of the pitch to get Sir Elton on board was that the show can become an even bigger fundraiser for various charities. We're barely more than a cat's whisker away from getting ink on paper.'
Photograph: Gus Ruelas/ Reuters
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