The Man Booker prize is searching for a new sponsor after the hedge fund company Man Group announced it was ending its 18-year relationship with Britain’s most prestigious literary award.
The Booker Prize Foundation said its trustees were already in discussion with a new sponsor, “and are confident that new funding will be in place for 2020”. It added: “In the meantime the two prizes will run as usual this year.”
Man Group has sponsored the Booker prize since 2002 and the Man Booker international prize since its inception in 2005.
Man Group’s chief executive, Luke Ellis, said it had been a “privilege” to sponsor the prizes for nearly two decades. But, “following a careful review of our funding initiatives”, the group had decided to focus its resources on its Paving the Way diversity and inclusion campaign, and also on the Man Charitable Trust, which supports literacy and numeracy.
He said: “The Man Booker prizes have meant a huge amount to all of us at Man Group.” Applauding the “exceptional work of the Booker Prize Foundation”, he added: “We are truly honoured to have been part of something so special and unique for nearly 18 years.”
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