Last week, SOTH reported that Amagansett resident and celebrity chef Bobby Flay is leaving the Food Network after 27 years. Now, new information for the reason the celebrity chef is leaving has been revealed.

A source told People, that Bobby wanted a contract in the ballpark of $100 million. He asked for more than Guy Fieri‘s recent $80 million contract, which the network gave to him.

“Guy has a three-year deal,” the source said. “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.”

According to the source, the network would not budge with Flay, and the decision was “strictly business.”

Flay’s contract with the Food Network, which he’s been with for 27 years, since 1994, concludes at the end of this year. There’s no official word on what’s next for the celebrity chef, but he launched a podcast, Always Hungry with Bobby Flay and Sophie Flay, with his daughter earlier in the year.

Bobby Flay is also slated to open two more Vegas Strip outposts for his new fast-casual restaurant Bobby’s Burgers. In December, the burger joint will open at Harrah’s Las Vegas, and shortly after, in March 2022, it’s headed to the increasingly star-studded Paris Las Vegas.

The idea for the venture — more casual than the slightly more gussied up Bobby’s Burger Palace, whose Las Vegas location at the Shops at Crystals has shuttered — derives from Flay’s childhood love for a classic American fast food trifecta: burger, fries, and shakes.