Simon Cowell's Candid TV Admission, X-Factor 'Massive Risk'
Feb. 7 2011, Published 6:02 a.m. ET
Simon Cowell’s highly anticipated new television venture, The X Factor, debuted its promo to much fanfare during Sunday's Super Bowl telecast, igniting what is expected to be a major publicity blitz.
Now the acid-tongued Brit is speaking about his expectations for his next gig, but in a surprising admission, tells Breaking Celebrity News the show is a “massive, massive risk.”
In a conference call with reporters on Monday, Cowell said The X-Factor's grand prize of $5 million -- "that’s a lot of cash" -- makes him nervous.
“The reason we decided to do this was to show the people who are auditioning for the show sometimes you have to put your money where your mouth is," Cowell said.
"By putting up that kind of prize money it’s a massive, massive risk.”
Cowell, 51, is the executive producer of the show and will also be a judge, just like in Britain, where it's been a roaring success and much revered nationa