Alex Cullen axed from Channel Nine’s Today Show after $50,000 Adrian Portelli

Alex Cullen, a popular presenter on Channel 9’s Today Show, says he is “stepping down permanently” after he was given $50,000 by billionaire Adrian Portelli for comments he made on air.

Mr Portelli had issued a challenge to media personalities offering the cash to the first person to publicly label him as “McLaren Man”, — in a bid to ditch the long-held “Lambo Guy” nickname he has become infamous under.

Cullen took the bait, uttering “McLaren Man” on air during a Today Show segment, and accepting the $50,000 prize.

The presenter was quickly pulled from the show as Nine Entertainment investigated the incident, with the two parties now agreeing he would not return.

Host Karl Stefanovic addressed his colleague’s week-long absence on Friday, announcing his abrupt departure in a short message to viewers.

“As most of you are well aware, our colleague Alex Cullen has not been on air with us this past week,” he said.

“There has been widespread reporting on the circumstances surrounding this, what I can say is that last night, Alex and Nine agreed that he would finish with the network.

“Alex has, of course, been part of the Today family for five years now, he’s always ready with a smile and a laugh and without hesitation speaking for all of us here, we can say that we are going to miss him terribly, that’s for sure.

“Alex is a terrific fella, what you see is what you get, and he has been a great mate to all of us over these years and we wish Alex, his wife Bonnie and his beautiful kids all the very best for the future.”

After the fiasco erupted, Nine Entertainment confirmed it was taking the matter “extremely seriously” and that the funds were being returned to Mr Portelli.

Later, in a post to social media, after the funds were presumably returned, the billionaire made a donation to two charities in Cullen’s name.

A Nine Entertainment spokesperson said: “Nine has agreed with TODAY presenter and journalist Alex Cullen that he will finish with the network following a review into a recent incident.”