The entrepreneur and TV star told the Daily Mirror he would rather let contestants down more gently but his contract says he must stick to the catchphrase.
Lord Sugar, 66, said: "I don't like that bit. Regretfully, it's part of a written commitment. I would far prefer to say 'I'm sorry, you're at the end of the stage'."
'The Apprentice' boss also told The Sun that there are plenty of famous businesspeople waiting in the wings to take over his job.
He said: "If I leave there will be a lot of people queuing up to take over. It's the most spoken of thing among some of these so-called high-profile people.
"They say, 'Oh I was offered The Apprentice but I turned it down'.
"Many attempts have been made to replicate The Apprentice and my position. John Caudwell, Peter Jones, Duncan Bannatyne. They've all tried it. Often copied but never equalled.
"And some people say it may have something to do with me."
Lord Sugar, who recently won a tribunal against ex-'Apprentice' winner Stella English, said he doesn't plan to retire at all.
On whether he will work until the day he dies, he told The Sun: "I might. It depends if it's a Saturday or a Sunday. As long as I can take my Blackberry with me into my coffin, just in case I'm still alive. They can put an antennae on the headstone."
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