Sources: Regis Philbin Might Have Retired Over Contract Negotiation Dispute

There might be a little more to Regis Philbin’s retirement announcement than what we were previously led to believe. Supposedly Regis said he had been thinking about his retirement for awhile, but the truth might be a little different. Sources say he was trying to negotiate a new contract, and that show execs wouldn’t give him the salary he was used to or wanted. Interesting.

Friends near Regis say he wanted to stay on the show if he got paid, but the execs weren’t having it.

According to Popeater:

"Philbin's agent Jim Griffin was in negotiations with executives of ABC for a new contract when his current deal expired and the execs made it clear that they wanted Philbin to take a pay cut. The reason given was that the show is not performing as well as in the past and also partly because he takes a lot of time off. Sources are saying that Philbin was being paid between $18 million - $20 million a year."

Philbin was apparently angry at the offer given to him and that triggered off his retirement announcement.

He apparently told Kelly Ripa about his decision 15 minutes before they went on the air and while initially she was said to be stunned, she is now apparently furious as Ripa feels Philbin showed a total lack of respect for her.

I can’t see Kelly ever being mad. She is always so happy during the show.

Do you think she let loose after the show and told Regis she didn’t appreciate his quick announcement? Will the truth ever come out about why Regis quit? Will Kelly get more money?