LEXINGTON - After nearly a decade on the job, the University of Kentucky’s president wants to extend his tenure.

But he's volunteered for a pay cut as the school deals with financial fallout from the coronavirus.

The school’s board chairman said Thursday he hopes to have a deal in place soon to keep Eli Capilouto at the university’s helm beyond next year.

Meanwhile, Capilouto has asked that the board reduce his annual salary this coming year by 10%.

He wants those funds allocated to an employee assistance fund.

The cut would amount to about $85,000 of Capilouto’s $838,334 annual salary.