Phillip Schofield tipped for £1.5m switch to ITV rival

He's been labelled a 'bankable star'

On Saturday, Schofield announced he was stepping down from his role presenting This Morning with immediate effect, after 21 years fronting the show.

This came after multiple reports and rumours of a rift between himself and his co-host Holly Willoughby.

It is unclear what the future holds for Schofield and his relationship with ITV, but according to one industry expert, Channel 5 could be lining up a big-money move for the presenter.

Brand and culture expert Nick Ede said he predicts that the broadcaster might be ready to swoop in for the star.

Speaking to the MailOnline, he said: “I think that Phillip is a very popular TV presenter who has had many many successful years on screen.

“He still has a lot of fans and I think that although his relationship on screen may be wavering he will have lots of other opportunities coming to him.

"He’s a bankable star. His popularity will see him overcome the current hurdles he’s facing.

“Another broadcaster may take him on or he will do radio for a while, as that’s lucrative and popular too, and he has a great knowledge of music.”

Last year, Channel 5 poached Dan Walker from the BBC for a reported £1.5m deal, and Ede believes a similar deal could woo Schofield from ITV.

There is as of yet nothing to suggest that the presenter is stepping down from his other roles and hosting duties at ITV, and in his statement on Saturday Schofield said he would see ITV viewers again for the British Soap Awards next month.

This was echoed by ITV managing director Kevin Lygo, who thanked Schofield for his years of work on This Morning, before adding: “We look forward to continuing our relationship with Phillip starting with The British Soap Awards in June and a brand new peak time series to come.”

In his full statement, Schofield said: "I have always been proud to cover fascinating stories on This Morning. But recently, This Morning itself has become the story.

“Throughout my career in TV – including the very difficult last few days – I have always done my best to be honourable and kind. I understand that ITV has decided the current situation can’t go on, and I want to do what I can to protect the show that I love.

“So I have agreed to step down from This Morning with immediate effect, in the hope that the show can move forward to a bright future.”

“I’d like to thank everyone who has supported me – especially This Morning’s amazing viewers – and I’ll see you all for the Soap Awards next month."

In her own statement responding to the news, Holly Willoughby said: “It’s been over 13 years presenting This Morning with Phil, and I want to take this opportunity to thank him for all of his knowledge, his experience and his humour.

“The sofa won’t feel the same without him.”

Related links:

Phillip Schofield’s brother Timothy jailed for sexually abusing boy

Piers Morgan tipped to replace Holly and Phil on This Morning

Holly Willoughby breaks her silence on “feud” with Phillip Schofield