Simon Cowell has admitted that he has poured millions of pounds into the new X Factor USA series and is worried that it will flop and leave him out a pocket.

The new version of the popular singing competition is reported to be the most expensive reality TV series ever made, with each episode costing just under $3.5 million to produce. This cost includes not just venue hire, staff costs and equipment, but also judges wages and fees to famous stars making guest appearances.

The X Factor will launch on Fox this September and Simon will be joined on the judging panel by Nicole Scherzinger, L.A. Reid and Paula Abdul. Rather than being typically cool about the whole thing, Cowell has admitted that he is more than a little nervous about it’s debut.

The music mogul told Wall Street Journal:

“This better bloody work or I am in huge trouble.”

In another interview Simon admitted that the show didn’t seem to be as big news in America as it did when they held their UK auditions. Speaking about the New Jersey tryouts, he confessed:

“It felt like there were 250 people in that room and every one of them was petrified.

“I thought to myself, ‘This is either going to work or it’s not, and there’s nothing I can do about it’.”

Do you think it will be a hit, or can Simonhave lost his magic touch? Leave your comments below.

Watch the new X factor promo here: