Gordon Ramsay is sure to be relishing the sweet new deal he’s cooked up with Fox Entertainment worth an estimated $150 million. Ramsay and Fox signed a deal that will see the celebrity chef and broadcaster launch a new production company called Studio Ramsay Global.
Fox beat out several networks and studios to secure the ill-tempered chef and continue his relationship with the company. Ramsay, 54, has worked with Fox for 16 years on shows including Hell’s Kitchen and Kitchen Nightmares.
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The new production entity created by the deal, known as Studio Ramsay Global, will see the Rupert Murdoch-owned network funding the acquisition of 100% of Ramsay’s existing television business, Studio Ramsay, which was a partnership with All3Media.
The new studio will see the famously foul-mouthed chef developing more original programming for the streaming platform Tubi and the Fox network. From now on, all new programs you see that involve Ramsay either in front of or behind the camera will be produced by Studio Ramsay Global, according to the terms of the new deal.
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The MasterChef star said, “This is an incredibly exciting opportunity, not just for me, but for the team at Studio Ramsay. We’ll be creating food and lifestyle ideas but also developing an incredible new talent pool of food, drink, and industry leaders to create our own culinary talent branch… I couldn’t be more excited about this new global partnership with FOX. After 16 incredible years working together, this takes Studio Ramsay to the next level.”
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While Ramsay isn’t exactly strapped for cash, insiders say he is set to add $150 million to his already staggering $220 million net worth with the deal. The superstar chef has become a household name with several successful TV shows like The F Word, Kitchen Nightmares, Hell’s Kitchen, and plenty more. Fox is betting big that his string of hits will continue to bring in viewers even though Ramsay recently had his game show Bank Balance axed by the BBC due to low ratings.
Ramsay isn’t just taking a payday here. He’s also serving on the company’s initial board of directors, and it appears that he will continue to be the chief creative architect behind all Studio Ramsay Global content going forward.
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Source: Celebrity Net Worth, The Hollywood Reporter
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