Chef Bobby Flay Parted Ways With Food Network Due To Rejected $100 Million Contract

The reason behind Chef Bobby Flay's sudden departure from Food Network has been revealed.

According to People, the iconic culinary figure decided to end his almost three-decade relationship with the network over money differences.

An insider revealed to the publication that Flay, whose real name is Robert William Flay, was seeking a renegotiated contract of $100 million with the network following the end of his current contract.

The source claimed that Flay wanted to negotiate a deal that would trump fellow renowned chef Guy Fieri's contract. Currently, Fieri has an $80 million deal with the network, which makes him the highest-paid chef on cable TV.

However, the "Beat Bobby Flay" star wanted a bigger payday than that of his colleague, and it seems the network didn't agree. The insider explained:

Guy has a three-year deal. The terms of what Bobby was looking for were gravely different than just cash. The terms were longer, the scope of work was different and thus the dollars were different. It's not just $80 million to $100 million.

The insider noted that although Flay and Food Network couldn't seem to meet in the middle, their separation was nothing short of amicable. The end of the celebrity chef's collaboration with the network was described as "strictly business."

The news of Flay's exit from the network first broke out on Friday. As The Blast previously reported, Flay is set to say goodbye after his three-year contract with the channel ends later this year.

The Wisconsin native has been with Food Network since 1994 and has become a familiar face to viewers of the cooking channel. During his time with them, he headlined several shows, including "Grillin' and Chillin,'" "Throwdown! With Bobby Flay," and "Food Nation."

Flay has also served as a judge on several prestigious cooking competitions such as "Iron Food" and "The Next Food Network Star."

He is also the author of about a dozen best-selling cookbooks. When he isn't on the screen, he runs several restaurants, including the famous Bobby's Burger Palace, which has multiple locations across the country.

The four-time Daytime Emmy Award winner reportedly has a net worth of $60 million, more than double Fieri's estimated net worth of $25 million.

Neither Flay nor his team has commented on his shocking exit or his plans for the next era, but he will surely be missed by the viewers of Food Network.