The Great British Bake Off: The reason ITV did not bid against the BBC and Channel 4

Channel 4 reportedly took on the show for £25 million

Mel Giedroyc and Sue Perkins host The Great British Bake Off on BBC One (BBC)

After months of speculation, the Love Productions formally announced The Great British Bake Off will no longer be shown on the BBC, the rights having been acquired by Channel 4.

Many have questioned whether other broadcasters attempted to purchase the series, with Radio Times’ sources revealing why ITV stayed clear of the negotiations.

According to a report by the publication, ITV - home to the likes of X Factor and Britain’s Got Talent - were reluctant to acquire the show without Love Productions being able to guarantee the existing presenter line-up will remain.

Mel Giedroyc, Sue Perkins, Mary Berry and Paul Hollywood’s continued presence on The Great British Bake Off has been put in question since it was revealed their contracts were not part of the Channel 4 deal.

Reports suggest the quartet may not continue to feature on the show due to their long-standing relationships with the BBC. A spokesperson for Channel 4 said: "We would be delighted if the presenters and judges want to come to Channel 4.”

It was recently revealed that the BBC ‘fell £10 million short’ of keeping the show, the corporation having offered Love Productions £15 million. The report detailed how Love Productions would not accept bids under £25 million.

Since the acquisition was announced, various past contestants have spoken out against the move to Channel 4, including last year’s runners-up. Meanwhile, the current series of Bake Off will continue to air every Wednesday on BBC One.