Bobby Flay Secures Big Pay After Signing 3-Year Contract Extension With Food Network

Bobby Flay is not leaving his home network. The 56-year-old restaurateur and TV personality just signed a new contract that is securing his stay at the Food Network for three more years.

Flay and Discovery’s lifestyle channel have finally reached an agreement on his contract extension, weeks after it was revealed that the celebrity chef was planning to cut ties with the Food Network because they weren’t seeing eye to eye on the financial terms of the deal, Variety exclusively reported Monday.

Specific details about the deal were not disclosed, but the outlet said that the new contract will keep him in the Discovery family up to his 30th anniversary in the TV industry. It will also open new doors and expand the scope of Flay’s Rock Shrimp Productions, which is responsible for most of his shows on the channel.

Although it was not clear how much Flay is getting paid for his extended stay, previous reports revealed that the famous chef was demanding for $100 million when he was still negotiating with the Food Network.

“Bobby wanted a contract in the ballpark of $100 million,” one insider previously told People.

Another tipster claimed to the outlet that Flay was seeking for a wide-range deal that involved longer terms and a different scope of work, more than the money involved.

Because the Food Network was not ready to cave in to Flay’s demands, negotiations allegedly ended, with one source saying the company ultimately decided to move forward without him.

Flay admitted in an interview with Variety that there were tense moments while his contract extension was being discussed. He also said that “a long pause” was made along the way, but the meetings continued and they reached an agreement in the end.

“We are thrilled to continue Bobby Flay’s long-standing relationship with Food Network. He captivates our audience with his incredible culinary skill, fierce competitive spirit and his trademark ability to share a deep passion for food,” Food Network President Courtney White said in a statement.

“Although these talks to renew took a little longer than expected, the important thing is that both sides are happy that we can now build on an already rock solid foundation,” Flay told New York Post.

Now that he has secured his tenure, the Irish-American cookbook author will resume filming new episodes of “Beat Bobby Flay” and his other project with his 25-year-old daughter Sophie that has a working title of “Bobby and Sophie on the Coast.”

Flay has been a part of the network since 1994. The Daytime Emmy Award winner has starred in a number of shows of the cable channel, including “Chopped,” “Worst Cooks in America,” “Iron Chef America,” “The Best Thing I Ever Ate” and “The Next Food Network Star,” among others.