ABC, Warner Horizon and Harrison have made it official that Harrison will no longer be part of The Bachelor franchise following his racial controversy earlier this year. The news comes after Deadline reported that Harrison reached a "mid-range eight-figure payoff" settlement to leave The Bachelor franchise, which he's hosted since its launch in March 2002. "I’ve had a truly incredible run as host of The Bachelor franchise and now I’m excited to start a new chapter," Harrison wrote on Instagram. "I’m so grateful to Bachelor Nation for all of the memories we’ve made together. While my two-decade journey is wrapping up, the friendships I’ve made will last a lifetime." In a joint statement, Warner Horizon and ABC Entertainment said: “Chris Harrison is stepping aside as host of The Bachelor franchise. We are thankful for his many contributions over the past 20 years and wish him all the best on his new journey.” ALSO: In settlement negotiations, Harrison's attorney reportedly threatened to spill dirt on The Bachelor creator Mike Fleiss following his wife's 2019 domestic violence accusation that led to a police probe.