AMERICAN IDOL: Simon Cowell. CR: Michael Becker / FOX

So, what’s up with Simon Cowell sensationalist confession that he’s leaving American Idol after this season to become a judge on The X-Factor?

It wasn’t the money, Cowell says.  As a matter of fact he was offered a boatload of cash by Fox and ultimately decided he should hit the road.

Cowell made the announcement - and even signed the agreement at the Television Critics Association tour in front of hundreds of entertainment journalists (a half-yearly event designed to introduce the new shows to TV journalist).  Why the sensational venue? Well, the AI judge didn’t want the rumor mill to get out of hand and second, he felt an obligation to answer any questions that might arise himself…and boy did they.

Click onto the media bars below to hear direct from Simon Cowell:

How and when the deal went down - plus his thoughts on the benefits to American Idol’s ratings from his departure.

Why he came out to the TCAs himself to make the announcement rather than a simple press release.  Still, he admits the announcement felt strange.

Why it was time for him to say goodbye to Idol.

And Cowell’s thumbnail synopsis of what to expect from his own TV baby, The X-Factor, which will debut in the U.S. in 2011.

American Idol season nine debuts Tuesday and Wednesday, January 12th and 13th, 8:00 p.m. ET/PT on Fox.