Hedge fund’s departure as £1.6m backer of the UK’s leading fiction award has prompted feverish speculation about the prize’s future
Previous Man Booker prize winners are among those keenly awaiting the announcement of the new sponsor of the prestigious literary award, after the prize’s sponsor of almost two decades, Man Group, became the latest in a wave of companies pulling out of backing book prizes.
The hedge fund, which has sponsored the £50,000 literary award since 2002, announced on Sunday that it would end its association with the prize after 2019, which cost them £1.6m a year. On Sunday, the Booker Prize Foundation said that its trustees are already in discussions with a new sponsor “and are confident that new funding will be in place for 2020”.
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