Booker Prize on hunt for new sponsor after Man Group pulls out

The Booker Prize is searching for a new sponsor

Literature's Booker Prize is searching for a new sponsor after hedge fund Man Group brought its long-running deal to an end.

The annual award has been known as the Man Booker Prize since 2002 as part of a partnership said to be worth £1.6m a year.

But as The Sunday Times reports, the relationship has felt the ire of authors such as Sebastian Faulks who branded Man's bosses as "the enemy" last year.

Man's chief executive, Luke Ellis, told the broadsheet that the company had decided to shift its funding to its diversity and inclusion campaign and other educational causes.

The Booker said it was in negotiations to secure a new deal and was "close to finalising the new funding for 2020".

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