Channel 4 has effectively paid £25 million for Paul Hollywood and a tent

Mary Berry has released a statement confirming she has left the Great British Bake Off, while Paul Hollywood has released a statement confirming he will move with the show to Channel 4.

The BBC baking show, which has massive popularity, was bought by Channel 4 earlier this month when they outbid the BBC's reported offer of £15m per year to keep the programme.

The Sky-owned production company Love Productions was reported to have refused to entertain any offers under £25m a year, leading to the programme's move to Channel 4.

Since then, presenters Sue Perkins and Mel Giedroyc have quit the show, as did Berry on Thursday morning.

In a statement, Berry said:

What a privilege and honour it has been to be part of 7 years of magic in a tent – The Great British Bake Off.   The Bake Off family – Paul, Mel and Sue have given me so much joy and laughter.

My decision to stay with the BBC is out of loyalty to them, as they have nurtured me, and the show, that was a unique and brilliant format from day one.  I am just sad for the audience who may not be ready for change, I hope they understand my decision. 

I wish the programme, crew and future bakers every possible success and I am so very sad not to be a part of it. 

Farewell to soggy bottoms.

Meanwhile, fellow judge Paul Hollywood confirmed his move:

I am delighted that I will be continuing as a judge when Bake Off moves to Channel 4. I want to thank the BBC and Mel and Sue for making my time in the tent great fun and really rewarding.

Which is a little awkward.

People on Twitter have been pointing out that Hollywood is the only remaining member of the presenters and judges, and that Channel 4 may have made a large error in failing to keep on three quarters of the show's talent:

However, some people still think the deal is a good one for Channel Four.

Let's just say that we remain unconvinced.

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