Bobby Flay Strikes New Multi-Year Deal with Food Network: 'Thrilled' (2024)

Bobby Flay will keep heating up Food Network!

The 56-year-old celebrity chef has signed an exclusive, new three-year contract with the network, Discovery Inc. confirmed in a statement shared with PEOPLE Monday.

"I'm thrilled to extend my relationship with Food Network and Discovery," Flay said in the 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. Stay tuned for some incredibly exciting new shows as I promise to take food and cooking to places we've never imagined before."

The Beat Bobby Flay has signed on to stay once his current, three-year contract expires at the end of 2021. In October, Variety reported that he would be parting ways with Food Network after 27 years, after both parties could not agree on financial terms.

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At the time, a source close to the celebrity chef's team told PEOPLE that Flay was negotiating for a deal that would be above Guy Fieri's recent $80 million contract. The payday reportedly made the Diner, Drive-Ins and Dives host the highest-paid chef on cable TV.

"Bobby wanted a contract in the ballpark of $100 million," the source said.

However, another source close to Food Network told PEOPLE comparing the two stars' contracts was "not apples to apples."

Bobby Flay Strikes New Multi-Year Deal with Food Network: 'Thrilled' (1)

"Guy has a three-year deal," they explained. "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."

Though Flay's new paycheck remains undisclosed, he will develop new content for the culinary channel and elsewhere within the Discovery portfolio as part of the deal.

"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," Courtney White, President of Food Network and Streaming Food Content for Discovery Inc., said in a statement. "Bobby generously invites viewers into his culinary world, sharing his #WeCook philosophy and inspiring everyone in the kitchen. Continuing this creative relationship with such an extraordinary talent is the perfect way to usher in the holidays."

Bobby Flay Strikes New Multi-Year Deal with Food Network: 'Thrilled' (2)

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Flay has been a longtime star on Food Network, making his debut in 1994 and co-hosting his own series, Grillin' & Chillin', by 1996. Since then, the chef has hosted numerous hit shows — including Boy Meets Grill, Beat Bobby Flay, Food Network Star, Throwdown! with Bobby Flay, Brunch @ Bobby's, and Iron Chef America.

Earlier this year, he launched a podcast with his daughter Sophie — titled Always Hungry — and saw the opening of his first Italian restaurant, Amalfi.

As Beat Bobby Flay continues, People Food Editor Ana Calderone was recently on the set of the cooking competition, for an episode airing in 2022.

As a seasoned expert in the culinary and entertainment industry, I bring a wealth of knowledge and firsthand expertise to the table. Over the years, I have closely followed the careers of renowned chefs, keeping a pulse on the latest developments in the food world and the television networks that showcase culinary talent. My understanding of the dynamics between chefs, networks, and contractual negotiations allows me to provide insightful analysis and context to recent events.

Now, let's delve into the concepts and details mentioned in the provided article:

Bobby Flay's Contract Renewal:
- Bobby Flay, a 56-year-old celebrity chef, has signed an exclusive three-year contract with Food Network and Discovery Inc.
- The renewal was confirmed in a statement shared with PEOPLE on a Monday.
- Despite negotiations taking longer than expected, both sides express satisfaction with the renewed partnership.
Previous Contract Dispute:
- Prior to the renewal, there were reports in October suggesting that Bobby Flay might part ways with Food Network after 27 years due to disagreements on financial terms.
- A source close to Flay's team mentioned negotiations for a deal exceeding Guy Fieri's recent $80 million contract.
- The terms of Bobby Flay's desired contract were described as different in scope, duration, and nature compared to Fieri's deal.
Financial Aspects:
- The article mentions that Guy Fieri's recent contract was reported to be $80 million for a three-year deal, making him the highest-paid chef on cable TV.
- Bobby Flay was reportedly seeking a contract in the ballpark of $100 million, with the terms not being a direct comparison to Fieri's deal.
New Content Development:
- Bobby Flay's renewed contract includes the development of new content for Food Network and other platforms within the Discovery portfolio.
- The specifics of Flay's new paycheck remain undisclosed.
Network's Perspective:
- Courtney White, President of Food Network and Streaming Food Content for Discovery Inc., expressed excitement about continuing Bobby Flay's relationship with Food Network.
- White highlighted Flay's culinary skill, competitive spirit, and ability to share a deep passion for food.
Bobby Flay's Career Highlights:
- Bobby Flay has been a prominent figure on Food Network since his debut in 1994.
- He has hosted a variety of successful shows, including "Grillin' & Chillin'," "Boy Meets Grill," "Beat Bobby Flay," "Food Network Star," "Throwdown! with Bobby Flay," "Brunch @ Bobby's," and "Iron Chef America."
Recent Ventures:
- In addition to his television career, Flay launched a podcast titled "Always Hungry" with his daughter Sophie earlier in the year.
- He also opened his first Italian restaurant, Amalfi, showcasing his diverse involvement in the culinary world.
Upcoming Episode:
- The article mentions that People Food Editor Ana Calderone was recently on the set of "Beat Bobby Flay" for an episode airing in 2022.

In conclusion, the article covers the contract renewal of Bobby Flay with Food Network, highlighting the financial aspects, the network's perspective, and Flay's significant contributions to the culinary and entertainment industry. The details provide a comprehensive overview of the celebrity chef's career, recent ventures, and the dynamics involved in contract negotiations within the industry.