Jeremy Clarkson, Richard Hammond and James May sign up for new show with Amazon

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Former Top Gear presenters Jeremy Clarkson, Richard Hammond and James May have signed a deal to present a new motoring show on Amazon's streaming service. The programme, which is due to air in 2016, will see the trio reunite to create a rival programme to their popular BBC show.

The new show will be produced by former Top Gear executive and Jeremy's old school friend Andy Wilman, who has been credited with transforming the motoring programme into such a global success.

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Jeremy Clarkson, Richard Hammond and James May have signed a deal with Amazon

The deal ends months of speculation over Jeremy's future projects after he dramatically exited the BBC in March following a "fracas" with producer Oisin Tymon. While he initially admitted to being upset that his contract was not renewed by BBC director general Tony Hall, Jeremy seemed more upbeat after news of his Amazon deal was announced on Thursday.

"I feel like I've climbed out of a bi-plane and into a spaceship," he joked in a statement from Amazon.

Jeremy's colleagues Richard and James appeared equally happy with their new deal, after previously saying that working with Jeremy's replacement Chris Evans would have been a "non-starter".

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Jeremy exited the BBC in March

James said on Thursday: "We have become part of the new age of smart TV. Ironic, isn't it?"

The trio are committed to present three seasons of the new show, which has not yet been named. They are expected to begin work in autumn after completing their world tour, with the show likely to be pitted against BBC's new version of Top Gear.

Jay Marine, vice president of Amazon Prime Video EU, confirmed the new signing and said they "can't wait" to see what Jeremy, James and Richard will create.

"Customers told us they wanted to see the team back on screen, and we are excited to make that happen," he said. "Millions of Prime members are already enjoying our ground-breaking original shows. We can't wait to see what Jeremy, Richard, James and the team will create in what is sure to be one of the most globally anticipated shows of 2016."

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