Time will tell who will fill the recently vacated judge's chairs on The X Factor, but one thing's for sure -- it won't be Beyonce Knowles. At least, if Simon Cowell is to be believed.

Fox's recently minted competition series had a major shakeup last week, with judges Nicole Scherzinger and Paul Abdul -- along with host Steve Jones -- getting the heave-ho. And while the rumor mill swirled with scuttlebutt about Cowell offering Single Ladies singer Knowles an astronomical sum to come aboard, the famously cantankerous Brit says it's not happening.

I have no idea where this rumor came from, Cowell said in an interview with Extra. I read it online that I offered her $100 million a year. It's complete nonsense.

Cowell also revealed that executives at Fox began talking to him about a shakeup t the beginning of the year-- and we were told it had to happen straight away.

He also took responsibility for the perception that X Factor has been a lukewarm success, admitting that his declaration that the show would be bigger than his last gig, American Idol, set the bar too high.

It's only because I opened my big mouth and said we were going to get 20 million, Cowell said. If I hadn't said that, everybody would be saying the show was a huge success.