After speculation and rumors surfaced that Tonight Show host Jay Leno would leave and Jimmy Fallon would take over the show, the former officially announced on Wednesday he will leave next spring.

Fallon signed a deal to take over as the new host for the Tonight Show.

"Congratulations Jimmy," Leno said. "I hope you're as lucky as me and hold on to the job until you're the old guy. If you need me, I'll be at the garage."

Leno hosted the show for 22 years but left in 2009 and Conan O'Brien took over briefly, according to CNN. Leno then hosted The Jay Leno Show in the fall of 2009, but when ratings were low he went back on to host Tonight.

When Leno reclaimed his spot and left O'Brien without a job, O'Brien told The Hollywood Reporter in 2012, "The odds are we will both leave this Earth without speaking to each other, which is fine."

He added, "There's really nothing to say. We both know the deal. He knows; I know. I'd rather just forget."

There hasn't been as much animosity reported between Leno and Fallon recently. On Monday night they acted together in a skit for The Late Show poking fun at the NBC move to replace Leno with Fallon. In the skit, they sang a rendition of the West Side Story song Tonight.

Tags: Jay Leno The Tonight Show Jimmy Fallon