Jeremy Clarkson, Richard Hammond and James May were "on the brink" of renewing their contracts for Top Gear when Clarkson's infamous "fracas" with a producer put an end to the premature celebrations.
May confirmed the scuppered plans in his Sunday Times column, revealing that he had ordered a Ferrari costing more than £200,000 (NZ$399,000) before Clarkson indirectly lost him his job.
"There we were, all three of us, on the brink of a new three-year contract to make Top Gear, after which we would definitely chuck it in with dignity and hand the reins to a new generation, assuming we were still alive," the 52-year-old presenter wrote.
"There were a few details to resolve about time frames and other mundane stuff, but the groaning draft version of this document was actually sitting on my desk. This was a great privilege and a once-in-a-lifetime event; an invitation to continue presenting the world's biggest TV show for - let's not be shy - a handsome salary."
Tony Hall, BBC director general, decided against renewing Clarkson's contract after an investigation into the incident confirmed that "a line had been crossed" and "there cannot be one rule for one and one rule for another".