Entertainment mogul Simon Cowell is dishing about Susan Boyle’s much anticipated debut album, and talking about his new venture with retail tycoon Philip Green.

Boyle skyrocketed to fame on “Britain’s Got Talent” with her unexpectedly beautiful voice and powerful rendition of “I Dreamed a Dream.” Cowell’s face during “The Hairy Angel’s” audition said it all. He was blown away by her live performance and says she sounds good in the studio too! Simon tells “Extra,” “She’s extraordinarily good on record.“

“We’re not going to throw out some souvenir album of show tunes. We went through about 350 to 400 songs to choose from. She was blown away by some of the song choices and she’s going to surprise a lot of people with this record,” touted Simon.

The tough judge says Boyle’s breakdown before the “Talent” finale was unfortunately inevitable. “I think it was all boiling up. You’ve got to understand this lady had lived alone with a cat for years and years and years and she was really, literally, the most famous person on the planet.“

Boyle’s debut album is expected this fall.

Cowell also tells “Extra” he has joined forces with Philip Green, the man behind Kate Moss’ Top Shop clothing line. The two have formed a production company, and since Simon already has plenty on his plate, he says no one is getting “carried away.”

There has been a lot of speculation over the last few weeks with regards to American Idol judge Simon Cowell’s contract renewal. Apparently Simon wanted to give up American Idol this year to setup a global entertainment company with TopShop boss Sir Philip Green, but the shows makers are so desperate to keep Simon on board, that they reportedly offered him $144 to stay on at the show for another year.

Simon Cowell has now spoken out to say that these rumours are not true. “I wish! Come off it,” Simon said. “Its absolute nonsense…. crazy, crazy nonsense. Speculation. Not true. Nothing has been signed. There hasn’t been a deal done,” he told a reporter.

“We’re talking to Fox. We have a very good relationship with them. As to what we’re going to do ongoing over a number of different bits and pieces…. we’ll see… we are having conversations.”

Well, i wouldn’t be surprised if this turned out to be the figure Simon Cowell gets to stay on at American Idol. If the shows host, Ryan Seacrest can get a new $45 million deal, why cant the real star of the show (Simon) triple that? I think Simon is way more valuable, don’t you?