The 60-year-old music mogul claims he had the idea of a talent show to search for a new group before The X Factor winners - who are no longer represented by Simon - and says the Black Magic hitmakers' show was initially going to air in 2021 before being rescheduled for next year.
He said: "This is what really happened. I was approached to co-produce that show last year by Little Mix’s management.
"I told them the problem was we have a conflict of interest because we are launching X Factor The Band in 2020. We were told their show was going to launch in 2021.
"Then we had the fallout and find out Little Mix were bringing their show forward. Was that intentional because we are doing our show? I have no idea.
"But regardless, it was too much fun not to do this year. I would rather it was us doing it first.
"It 100 per cent makes it more exciting there being a battle."
While Little Mix's show is due to start in 2020, the live finals of X Factor: The Band will take place at Birmingham Arena in the same week of the UK General Election, which is scheduled to take place on December 12th.
Simon said: "It’s the week of the General Election. So it will be the perfect antidote to the doom and gloom.
Then we had the fallout and find out Little Mix were bringing their show forward. Was that intentional because we are doing our show? I have no idea.
"K-Pop is ruling the world. This is a show to find a band to launch UK-Pop. It’s more than winning a record contract, it’s starting a new music wave.
"Every group will be put together by us - just like One Direction, Little Mix and Fifth Harmony. It’s people who represent Britain’s version of K-Pop. That was always our plan. We’ve just brought it forward a bit."
And Simon admitted there could be as many as three X Factor shows on in 2020 after he penned on a new ITV deal.
"There is every possibility next year there could be three X Factor shows - Celebrity, All Stars and another group show."
Little Mix - made up of singers Jade Thirlwall, Perrie Edwards, Leigh-Anne Pinnock, and Jesy Nelson - were formed on the eighth series of The X Factor in 2011.
They went on to win the show, and signed to Simon's record label Syco Music.