Phillip Schofield releases new statement as he blasts 'people with a grudge' against him

He wrote: "Now I no longer work on @thismorning I am free to say this.

"I hope you have noticed that it's the same handful of people with a grudge against me or the show who seem to have the loudest voice."

Schofield continued: "This Morning IS the best show to work on, with the best people.

"In all the years I worked there there was no toxicity.

"You can listen to those persistently loud voices if you like.

"But the thousands of guests over the years, thousands of staff and crew, hundreds of presenters and contributors all know, it IS a family of wonderful, talented, kind, hard working people."

It comes as a source told GB News that the scandal surrounding Phillip Schofield's affair with a younger male colleague could cost ITV tens of millions.

Executives are bracing themselves for a dramatic share-price drop on Tuesday and advertisers have already begun ditching This Morning.

A source told GB News: "Even if executives can save This Morning the damage caused by the last 72 hours has been done.

"Executives are now expecting the ITV share price to drop when the stock markets open, but their biggest concern is about how advertisers react.

"Until a week ago, advertisers were queuing up to align themselves with This Morning and be in ad breaks between Phil and Holly.

"But the brand has been so badly damaged. ITV knows many of their partners will be looking at things and reviewing their position and asking is this a show we really want to be attached to.

"Ultimately the cost of all this could easily end up being tens of millions of pounds. It’s a disaster for the channel."

Advertisers have already started ditching the show as car dealers Arnold Clark, announced they would not be renewing their mega-money deal with This Morning.

Arnold Clark was the ITV's show main sponsor and the deal was worth millions of pounds according to The Sun.