Titian campaign progresses towards £50m target
Campaign reports good progress on fundraising
An announcement on whether the National Gallery and the National Gallery of Scotland's campaign to raise £50m for the purchase of Titian's Diana and Actaeon had been successful was expected as Museums Journal went to press.
"There has been very good progress in fundraising and the negotiation of terms for the acquisition," said a campaign spokeswoman.
"All efforts to bring the campaign to a successful conclusion continue and we hope to be able to make an announcement in the coming weeks. So far, we can confirm grants of £1m from the Art Fund and £10m from the National Heritage Memorial Fund (NHMF)."
The work currently belongs to the Duke of Sutherland and is on loan to the National Gallery of Scotland.
The Department for Culture, Media and Sport confirmed that the NHMF grant is the "sole government contribution", while a Scottish government spokesman denied reports that it had contributed £17.5m towards the acquisition. He added, however, that "ministers had acted decisively and given the national galleries a significant funding pledge".
A spokeswoman for London's National Gallery would not confirm press reports that the gallery had given £12.5m to the campaign. Scottish press reports also state that £500,000 has been raised by the public.
Ownership will pass to the London and Edinburgh galleries if the £50m sum is raised. Titian's Diana and Callisto would be offered at a similar price in 2013.
"There has been very good progress in fundraising and the negotiation of terms for the acquisition," said a campaign spokeswoman.
"All efforts to bring the campaign to a successful conclusion continue and we hope to be able to make an announcement in the coming weeks. So far, we can confirm grants of £1m from the Art Fund and £10m from the National Heritage Memorial Fund (NHMF)."
The work currently belongs to the Duke of Sutherland and is on loan to the National Gallery of Scotland.
The Department for Culture, Media and Sport confirmed that the NHMF grant is the "sole government contribution", while a Scottish government spokesman denied reports that it had contributed £17.5m towards the acquisition. He added, however, that "ministers had acted decisively and given the national galleries a significant funding pledge".
A spokeswoman for London's National Gallery would not confirm press reports that the gallery had given £12.5m to the campaign. Scottish press reports also state that £500,000 has been raised by the public.
Ownership will pass to the London and Edinburgh galleries if the £50m sum is raised. Titian's Diana and Callisto would be offered at a similar price in 2013.