He and fellow MasterChef judges, George Calombaris and Gary Mehigan, were ousted from the popular cooking show last week.
And on Sunday morning, Matt Preston, 57, opened up about Channel 10’s shock decision to end his contract after 11 years.
Speaking to The Daily Telegraph, the chef revealed he learnt his contract had been terminated on Instagram after he couldn’t agree on terms with the network.
‘We were happy with what was being offered’: Matt Preston (pictured) has said the MasterChef judges had accepted Network Ten’s financial offer but ‘failed to agree on other terms’
‘We were happy with what was being offered, in fact we had accepted Ten’s financial offer to make the next series of MasterChef,’ he told the publication.
‘We just failed to agree on the other terms,’ he added.
Last week, Channel 10 confirmed Matt, alongside his fellow veteran judges, were not returning to the show, claiming they were unable to agree on a wage increase.
Shock: Speaking to The Daily Telegraph on Sunday, Matt revealed he learnt his contract had been terminated on Instagram amid unsuccessful negotiations
‘Despite months of negotiations, Ten has not been able to reach a commercial agreement that was satisfactory to Matt, Gary and George,’ Ten’s CEO Paul Anderson said in a statement.
‘We would like to thank Gary, George and Matt for their contribution over the past 11 years.’
The network chief revealed there will be a 12th season of the cooking show with new judges in 2020.
End of an era: Last week Network Ten confirmed MasterChef judges Gary Mehigan (L), George Calombaris (C) and Matt Preston (R) would not be returning to the show
The shocking news came shortly after Ten was facing pressures to dismiss George, who was at the centre of a ‘wage theft’ scandal.
The food critic was fined $200,000 for underpaying 515 staff at his restaurant between 2011 and 2017.
He was forced to pay his staff and will have his business audited for the next three years.
Controversy: Channel 10’s shock decision to end the veteran judges’ contracts comes shortly after George (pictured) was at the centre of a ‘wage theft’ scandal