Lindsay Lohan is teaming up with TV personality Ryan Seacrest for a big-money show - they will give a lucky contestant $1 million to turn their life around.

The pair was spotted out together in Los Angeles on Thursday, prompting speculation of a budding romance.

However, the Mean Girls star was actually discussing business with the American Idol host, who works behind the scenes in Hollywood producing TV hits Keeping Up With the Kardashians and MTV's Bromance.

Both Lohan and Seacrest took to their pages on social networking website Twitter.com on Friday to drop hints about the potential project, which will reportedly help people in need of a second chance by giving them $1 million.

Seacrest writes, "Met with Lindsay last night about a show idea I have for her... it helps people and gives others a second shot! Still putting it all together."

Lohan will sit on the judging panel, listening to stories to determine which contestant deserves the cash prize, according to TMZ.com.

The actress writes on her Twitter page, "Working on a really great project for television - I am excited! Something meaningful like Extreme Home Makeover on ABC.

Image © PR Photos

(This news article provided by World Entertainment News Network)