Gary Lineker has agreed to a 23% pay cut in order to sign a new five-year deal with the BBC.

The news comes as the corporation looks to make significant savings in the years ahead and will see Lineker's annual salary drop from £1.75 million to £1.36 million.

The 59-year-old will continue as host of Match of the Day, the BBC's FA Cup coverage, the Sports Personality of the Year Awards and coverage of other major sporting events until at least 2025.

"I love working with the BBC, and am very proud to continue to be a part of their outstanding football team," said Lineker, who has been with the BBC for 25 years.

"I'm looking forward to the next five years - with a European Championship and World Cup on the horizon, it's exciting times for me and the team."

Philip Bernie, the BBC's head of TV sport, said: "Gary is the outstanding football presenter of his time. The BBC is extremely pleased to have him leading our coverage so exceptionally, for another five years."

As well as his work for the BBC, Lineker also is also on the books of BT Sport as host of their European football coverage.