Simon Cowell says launching 'X Factor' in US is a 'massive risk'

Simon Cowell has admitted that he is taking a huge risk by launching X Factor in the States.

The usually cocky mogul burst back on to US TV last week in a brash £2 million advert for the show - and is also offering a £3 million record deal to the winner.

But despite the slick marketing he admitted that the more cash he pours in, the more he has to lose.

"Putting up that kind of prize money - it's a massive, massive risk," The Sun quoted him as saying.

"But it's also an incredible incentive and I think it rightly puts everybody under an enormous amount of pressure.

"So I'm nervous, but also confident it was the right thing to do," he added.