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Man Group withdraws Booker sponsorship

In the UK, hedge fund company Man Group has withdrawn its sponsorship of the Booker Prize.

The sponsorship departure will not affect this year’s awards cycle for the Man Booker International Prize (to be presented in May) and the Man Booker Prize (October), and the Booker Prize Foundation says discussions are already underway with a new sponsor for 2020.

A Guardian report from October 2018 portrayed the relationship between the prize and its sponsor as uncertain, reporting that Man Group CEO Luke Ellis was apparently less enthusiastic than his predecessor, Manny Roman, about the company’s commitment to the prize.

Man Group, which has sponsored the prize since 2002, has contributed £1.6 million (A$2.9 million) annually to the Booker, according to BBC News. The company says it will now focus its resources on its newly established ‘Paving the Way’ campaign, which aims to enhance diversity in its industry, and to expand the firm’s global charitable initiatives, focused on literacy and numeracy.

Booker Prize Foundation chair Helena Kennedy said: ‘We would like to put on record the Foundation’s appreciation of Man Group’s sponsorship. However, all good things must come to an end and we look forward to taking the prizes into the next phase with our new supporter.’

 

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Category: International news