Booker Prize: English-Language Novel and Sponsorship Ends

booker prize: It will not give its name to the award, which will revert to its old name of the Booker prize from 1 June, when the Man Group's sponsorship ends, according to The Guardian. Financial terms of the deal were not disclosed, but the Booker Prize Foundation said there were no plans to change the 50,000 winner's purse, or its recent expansion to include any English-language novel published in the UK. The prize for literature in translation will be known as the International Booker prize from June, and will continue to award 25,000 each to the winning author and their translator. Moritz and Heyman's foundation, Crankstart, has committed to an initial five-year exclusive funding term for the Booker, with an option to renew for a further five years. Moritz, a venture capitalist whose net worth is estimated to be 3.4bn 2.5bn established Crankstart with his wife, the American writer Heyman, in 2000 to support the forgotten, the dispossessed, the unfortunate, the oppressed and causes where some help makes all the difference . Recent donations include 75m to Oxford University in 2012, to support poorer students in taking up places to study and inspired, said Moritz at the time, by the generosity of strangers in England who took in his parents as Jewish refugees from Nazi Germany. The Booker prizes are ways of spreading the word about the insights, discoveries, pleasures and joy that spring from great fiction, said Moritz, who was born in Wales, studied at Oxford and now lives in San Francisco. Neither of us can imagine a day where we don't spend time reading a book. (news.financializer.com). As reported in the news.