The future of Modern Family is in turmoil over contract negotiations.

According to The Hollywood Reporter, the cast haven’t engaged in any contract talks yet and the show is about to wrap its eighth season as soon as next week.

When a show has run for as long as Modern Family, traditionally the network, which is ABC in the US, starts to fund production, rather than the sitcom’s studio, 20th Century Fox TV.

And, that’s exactly where the problem has stemmed from.

The hit sitcom is about to wrap on its eighth season.Source:Supplied

According to the publication, ABC is struggling to come to terms with the price tag of the show, despite it still being one of the highest revenue-generating shows currently on air.

In 2012, Modern Family’s ad revenue was pulling $2.7 million each episode.

Those figures prompted the show’s six biggest stars Ed O’Neill, Sofia Vergara, Jesse Tyler Ferguson, Eric Stonestreet, Julie Bowen and Ty Burrell to band together after the fourth season and seek better pay.

The stars eventually sued the studio 20th TV to escape their contracts and were able to negotiate new deals that scored them around $456,000 an episode as well as nabbing a cut of the ad revenues.

Modern Family has dominated television ratings and award shows for years and is still, despite lower figures for its eighth season, ABC’s top-rated show.

The show has dominated awards shows since its 2009 inception.Source:Getty Images

ABCand 20th TVstill have until May to decide the show’s fate but Modern Family’s ratings and revenue have made its potential ninth season almost an inevitability, regardless of the amount of money the network will have to fork out.