Holly Willoughby ‘determined for HUGE pay rise’ as ITV bosses plan to raise her £700,000 salary and make her ‘the jewel in their crown’ after funneling £250,000 into This Morning revamp

Holly Willoughby ‘is ready for a great new pay deal with ITV’ when she returns to a revamped This Morning on September 4.

The presenter, 42, is currently on her annual summer break, with Josie Gibson and Craig Doyle currently taking on hosting duties in her absence.

But it’s clear she’s in line for a £300,000 pay rise, with her annual salary – an estimated £700,000 – raised to £1million when she returns to a rotating stable of presenters.

As revealed exclusively by MailOnline, Welsh presenter Steve Jones is expected to join the team this summer as ITV scrambles to move on following the abrupt departure of Holly’s long-term co-host Phillip Schofield.

A source told The Sun on Sunday: Holly is at the heart of the show’s future and success and ITV execs want her to lead a stable ship out of a rocky year. It’s going to be a strong start with Alison going off like a dream team.

“Holly’s pay deal is being negotiated in a few months, so they’re putting together a lucrative package that will reflect her extra responsibility without Phil, and they’re willing to go up to £1m a year.”

Holly is believed to be performing alongside Alison Hammond for her first two shows in September, with hosts including Jones also expected to perform at a later date.

ITV is said to have spent £250,000 revamping the beleaguered show, with a new segment giving fashion expert Gok Wan the chance to travel the UK for doorstep makeovers.

The source added, “They really boost the show with really positive, fun stories, nothing dark or depressing.

Producers will spend the money on showbiz guests and exclusive human interest stories. Viewers can expect a lot of glitz and glamour. But Holly will definitely be the jewel in their crown.”

Jones will co-host the program with Josie Gibson on Wednesday, and ITV bosses are ‘thrilled’ with the new addition to the show following Schofield’s departure in May.

Sources at the channel say if viewers like him he will ‘almost certainly’ be part of the This Morning’s rotations of hosts who will present with Holly Willoughby alongside Ms Gibson, Alison Hammond, Dermot O’Leary and Craig Doyle.

One told MailOnline: ‘The hope is that those watching at home will love Steve, he is a very experienced announcer but also very sassy.

“There is no permanent replacement for Phil, Holly will present with Alison, Josie, Dermot and Craig, and now probably Steve.”

“Hopefully he will be part of the new dawn for This Morning after the Schofield scandal, and help give it a fresh new look.”

Jones, 46, from Wales, who currently anchors Channel 4’s Formula 1 coverage, rose to fame in 2003 when he co-presented Channel 4’s T4 with Miquita Oliver. He was later hired by Simon Cowell to host the X Factor USA.

However, he soon became best known for his romantic antics after dating a number of celebrities – most famously Pamela Anderson.

He also enjoyed romances with Holly’s good friend Fearne Cotton, Denise Van Outen, former Emmerdale actress Amy Nuttall and the late Girls Aloud singer Sarah Harding/

Jones also had a three-year relationship between 1999 and 2002 with fellow Welsh presenter Alex Jones, presenter of the BBC’s The One Show.

Last month, the couple went through an awkward reunion when she interviewed him about his new book about the show.

The excruciating exchange came just months after Alex, 46, revealed the shocking reason behind their split in 2002 after they dated for three years.

She told how Jones lied about being unwell so he could steal an exclusive interview with Angelina Jolie for their Channel 4 show Rise.

Alex said she’d read “everything about” her ex’s book before the host awkwardly asked her how much she’d read.

She turned to him and said, ‘As a prolific reader, you sure are good at writing! I read part of the book and it got me hooked.

He replied, ‘How much is a little? What page are you from Jones?” before replying, “Maybe a quarter of the way.”

Jones settled in 2014 when he married American Phylicia Jackson-Jones since 2014 after meeting her in Los Angeles A when he hosted The X Factor USA in 2011.

Speaking of his wife, Jones recently said, “My good marriage, my healthy marriage – it’s my greatest achievement. I like being with my wife. She’s definitely my favorite person.’

ITV bosses have decided not to replace Schofield, 61, who admitted in May to having an affair with a much younger colleague and then lied to The Mail on Sunday about it.

Instead, Holly will take center stage in the program from Monday to Thursday, featuring a member of what ITV chefs refer to as the ‘This Morning family’.