Pete Waterman says if the Popstars boy band fails to make it to number one with their first single he will "commit suicide".
The band, which have been named One True Voice, will be managed by Waterman.
He says he is "ecstatic" with his band, adding that in 40 years in the music business he has not worked with any stars better than the boys.
The band will go head-to head with the show's rival girl band in the race for Christmas number one.
They will release their own version of the Bee Gee's Sacred Trust.
Waterman said: "If this goes in at number two I will commit suicide. I have got to beat Louis Walsh."
He says the double-A side single will not be a cover but the band's own interpretation of the song, which he described as "amazing" when he first heard it.
The other song will be called Long After You're Gone, written by Waterman and band member Daniel Pearce.
Daniel said: "This is the beginning of something great for us all.
"We are really excited and hoping to have lots of number one hits, best selling albums and platinum discs all the way."