Simon Cowell's U.S.version of The X Factor was cancelled because the music mogul was unavailable for the panel.

The star left the British show to launch the series in the U.S., but Tv bosses confirmed last week (ends09Feb14) that the American show has been axed after three seasons.

Cowell, who has returned to the panel of the British show, has now explained why his U.S. experiment failed, telling, "They (network chiefs) would have taken the American show, but they wouldn't take it without me, so we sort of booted them off, I suppose. But it's not like that. I don't know why any show wants to compete in America right now. It's too flooded, the market. There's going to be... something like 14 talent shows on American Tv (this year). It's becoming like a joke."

Cowell goes on to admit he wants to lure British pop star Cheryl Cole back for the next series of the U.K. singing competition, after previously transferring her to the U.S. show and firing her before the series went to air.

He adds, "I would love Cheryl to come back. To be fair to Cheryl, it's never been about the money with her. It's all about whether she wants to do it, whether she can deal with the pressure."