The BBC is reportedly hoping to woo Phillip Schofield to the corporation with a "multi-million pound deal".

The 58-year-old currently has a golden handcuffs deal with ITV - worth a reported £1 million a year - which sees him host This Morning and Dancing On Ice for the broadcaster.

Schofield's contract with the network is up next year, however, and according to The Sun, the BBC is hoping to hold talks in an attempt to poach the presenter, who has been part of a successful partnership with Holly Willoughby on This Morning since 2009.

"Phil's a telly legend. He has thousands of loyal fans who follow his every move," a source told the newspaper. "He's become a prime target for the BBC who think he would be the perfect face for a number of new shows.

"His contract with ITV ends in 2021 so the BBC want to start a conversation. The hope is a meeting could take place as restrictions begin to ease later this year - and he'd be able to give them an idea of how much he'd be looking for."

The BBC, which is currently looking to save hundreds of millions of pounds in a cost-cutting drive, has denied that any approach has been made for Schofield.

Meanwhile, ITV recently hinted that Schofield and Willoughby's partnership could soon come to an end by outlining plans to hire a new black main presenter.