The 27-year-old music producer has revealed the sample he sent to the 'One Dance' hitmaker was a ''collaborative'' idea and was not intended to be featured on the '0 to 100/The Catchup' track from Drake's 'Hood Heat Volume One' album, and swiftly asked them to take his voice off the single.
Speaking on Spotify's 'New Secret Genius' show about his refusal, he said: ''I only sent it as a collaborative idea, not to be sampled on a record, so I got them to take it off.''
However, James has hinted he regrets his decision because of the amount of money he lost.
He explained: ''I remember having a conversation with my publisher later, and saying: 'What did you think of that decision?' Because you know that was a massive album.
''I asked how much money exactly I turned down by doing that. I spat out my drink.''
Meanwhile the 'Retrograde' hitmaker has admitted he was ''honoured'' to collaborate with Beyoncé and feature on her 'Lemonade' album, although he was apprehensive about singing another person's song.
Speaking about the partnership with the mother of two - who has four-year-old daughter Blue Ivy with her rapper husband Jay Z - James said: ''I've never sung anybody else's lyrics, so I just assumed that's not I was going to be doing. So I got my phone out and sang some of my own lyrics that were about something else and about somebody else. But it fit somehow into the song and it fit into the album, and I'm just honoured that they used it.''
His new album Underneath It All is out now.