Tate‘s chair of trustees is reportedly open to relinquishing naming rights to the Turbine Corridor for no less than £50 million (roughly $68 million) to fund the London establishment’s new endowment fund.
In an interview with the Telegraph, Roland Rudd, chair of the establishment’s board of trustees, floated the potential sale as a imply to assist the newly launched Tate Future Fund meet its purpose of £150 million by 2030. Rudd additionally prompt that naming alternatives may prolong to curatorships and director positions.
A spokesperson for the community of UK-museums instructed the Artwork Newspaper the quoted determine was “hypothetical,” and declined to substantiate whether or not the Turbine Corridor is actively being supplied as a sponsorship alternative: “We’re simply at the beginning of the fundraising marketing campaign.”
Rudd, in his interview, added that the “entire factor in regards to the Future Fund is to make sure we’ve one of many best collections of British trendy and up to date artwork, and a few of the best curators, as a result of we’re in a worldwide market.”
The Turbine Corridor, a cavernous exhibition house within the Tate Fashionable, hosts one among among the many most prestigious showcases for a residing artist. In March, the establishment introduced that Sámi artist Máret Ánne Sara would remodel the house fall, following a pledge from museum director Karin Hindsbo of a stronger focus on Indigenous artwork.
