Graham Norton might take a half a million pound pay cut to hang on to his contract at the BBC for another year.

The presenter has said he would ‘absolutely’ agree to slashing the money he receives which could see BBC bosses taking £500k off his £2.5million wage packet, according to The Sun.

Graham has already agreed to working on three shows with the broadcaster in 2010 even though his contract – that finishes at the end of this year – is yet to be renewed.

If his agent can finalise the details, the 46-year-old will host coverage of Eurovision and the Bafta TV awards, as well as presenting Andrew Lloyd Webber’s new search to find a star for his Wizard of Oz musical.

Graham is also hoping to continue with his chat show which will now be shown on BBC1.

A friend told The Sun: “Graham loves the BBC and is really happy working there.

“Yes, he has had some turkeys, especially Totally Saturday, but he feels he is treated well there. He has agreed to do the three shows and his agent is currently sorting out the deal.”

The presenter may be set to work on other channels as well as the BBC if his bosses let him.

Graham has been tipped as a possible replacement for Paul O’Grady on the Channel 4 teatime slot.