Former "Price Is Right" host, Bob Barker, who announced his retirement recently, was delighted to hear that Drew Carey will be taking over the show.

Although Barker joked saying he hoped CBS wouldn’t find a new host in time, and they would have to broadcast reruns and pay him for nothing, in a statement released recently Barker admitted he’s more than happy for Carey who will give away the prizes starting sometime this fall.

"All I'm doing is giving away prizes. ... And it's not even my money," Carey said last week amid negotiations to host "The Price Is Right."

"It's like Oprah giving away those cars. She didn't give away those cars," he said. "The car company gave away the cars. Oprah just said, 'You get a car, and you get a car,' and she gets all the credit. That will be me: 'You win a car!' And they'll go, 'Oh, Drew, thank you!' "

Carey was the one to break the news to Barker during a phone call on Monday.

"I was delighted," Barker said. "I was going to approach him about doing that, but I didn't have to. He volunteered. He certainly sounded like an animal lover. I thanked him profusely."

The 83-year-old former host said Carey promised him that he would continue Barker's signature sign-off: "Help control the pet population. Have your pet spayed or neutered."

"I told him that my only advice for him was to keep his guard up because The Price Is Right contestants can be dangerous," Barker said.

Drew Carey confirmed the deal with CBS while on the "Letterman show" on Monday night.

"It’s a done deal. I’m the new host," Carey told Letterman, the deal apparently sealed just minutes before taping. "I realize what a big responsibility this is," Carey said at the taping, "It’s only a game show, but it’s the longest-running game show in American television and I plan to keep it that way."