Fans of 90's sitcom classic Seinfeld won't be watching it on Netflix any time soon.

According to recent reports, it's understood that the rights to Seinfeld are currently being auctioned off at a whopping $500,000 per episode.

Amazon, Hulu and Yahoo! are currently locked in a bidding war to secure the rights to stream the hit show.

However, it's believed that Netflix passed on the deal. We've got one question - WHY?

It may have something to do with the heavy price they paid for the streaming rights to fellow 90's sitcom classic Friends.

Netflix are understood to have paid a significant sum for a 4-year deal for Friends. This isn't the first time the VOD service have shelled out big money for a TV series.

Last year, Netflix paid $1,000,000 for each episode of thriller series The Blacklist with Avengers: Age of Ultron star James Spader.

It's unlikely, but if Amazon, Hulu and Yahoo! all decide to pass on Seinfeld, Netflix could very well swoop in and buy up the rights.

And then we'd have endless hours of this. Imagine.