Top Gear star Jeremy Clarkson set for a £5 million windfall

While Jeremy Clarkson has had some mixed press over the last year, the BBC are clearly fond of him as they've just signed him up to present their popular motoring show, Top Gear, for three more years.

If that wasn't reason enough for the television presenter to celebrate, it has also emerged that he's sold his share of the production company Bedder 6 to the BBC - in a deal rumoured to be worth £8 million.

Jeremy set up Bedder 6 five years ago with Top Gear's executive producer, Andy Wilman in an attempt to promote the show as a global brand. The hugely successful production company produced masses of money through Top Gear DVDs and organised tours.

A BBC Worldwide spokesman said: "BBC Worldwide has agreed new commercial deals with Jeremy, James, Richard and Andy to secure Top Gear's international future for another three years. This agreement secures the commercial future of Top Gear without using a penny of licence fee money and allows us to continue to grow the brand around the world and return profits to the BBC."

Jeremy caused a stir last year, when it emerged that he earned £3 million a year due to his stake in the lucrative Bedder 6 and there is still controversy surrounding the fact that he is paid £500,000 a year by the BBC, as a 'talent fee'.

The presenter will be joined by James May and Richard Hammond for the next three series of Top Gear.