Eric Braeden Signs New Multi-Year Contract With 'The Young and the Restless'

Eric Braeden

Longtime Young and the Restless star Eric Braeden has signed a new multi-year deal with Sony TV, ensuring there’ll be more Victor Newman in the years to come.

Entertainment Weekly exclusively broke news of the actor’s re-signing this evening. “Very glad we got the negotiations successfully behind us,” said Braden in a statement to the magazine. The Emmy winner has been a fixture on Y&R since 1980.

Braeden’s been embroiled in tough contract negotiations for the past few months. Sony hoped to avoid a repeat of Braeden’s 2009 negotiations, which saw the actor walk off set and end negotiations after he was required to take a pay cut. He was subsequently written out of storylines while he engaged in a very public feud. After a month long standstill, he came to terms on a new multi-year deal with Sony and The Young and the Restless.  Luckily this time around there was no public falling out. [FLASHBACK: Eric Braeden Written Out of ‘Y&R’!Eric Braeden Ends Contract Talks ‘Y&R’Eric Braeden Signs New Deal With ‘Y&R’]

This new deal comes at a crucial time for the Y&R, which is in the process of slimming down its cast. Last week the soap fired Genie Francis (Genevieve), Debbi Morgan (Harmony) and Marcy Rylan (Abby), with Jennifer Landon (Heather) rumored to have been cut as well. Billy Miller (Billy) and Michael Graziadei (Daniel) will reportedly depart the series voluntarily at the end of their contracts.

The terms of his deal was not disclosed.

My POV: The last thing Y&R needed is to lose one of its biggest stars. He is an integral part of the show’s success whether or not you like Victor. Hopefully the show can find ways to keep Victor viable without resorting to having him sleep with his sons’ ex-wives.