ITV has revealed a brand new logo ahead of the reboot of Deal Or No Deal.

The TV series will return to our screens later this year, airing on ITV1 and ITVX.

Stephen Mulhern has been named as the new host and the series will see contestants battle it out against the notorious Banker.

The Deal Or No Deal contestants have the chance to win a life-changing cash prize but the series often sees the game unfold with nail-biting scenes.

Gazette: Deal Or No Deal will return to our screens later this yearDeal Or No Deal will return to our screens later this year (Image: ITV)

Every week, a contestant faces 22 sealed boxes with each of them hiding a different amount of money.

The contestant must eliminate the boxes without knowing the amount that’s inside them.

The boxes are opened one at a time with the amount of money inside revealed.

Players come under pressure when the Banker tries to encourage them to accept an offer of cash in exchange for what could be in their unopened box.

While the large cash prizes remain unchosen, the Banker’s offers get higher but if a big cash prize is unveiled, it can all change.

How to apply for Deal Or No Deal

Applications are open for the new series of Deal Or No Deal.

If you’re interested in applying for the show, you can visit the website.

Those interested in being part of the studio audience can apply via the Applause Store website.

Host Stephen Mulhern said: “Wow what an opportunity, I’m beyond excited to be hosting the brand-new series.

“I’ve always been such a huge fan of the show, so much so, I’ve been practising at home with small cereal boxes!

“It looks so simple but it's an incredibly compelling game for both those playing and the viewers watching at home. 

“It’s one of the greatest shows of all time and to be the new host is an honour! I can’t wait to get started.”