The £20,000 prize for the winner of the RIBA Stirling Prize is in jeopardy again after the collapse of a sponsorship deal
In June the institute revealed that property investor and asset manager Brockton Capital had signed up as the official sponsor of the most prestigious award in British architecture ‘for at least the next three years’.
The move would have seen the return of the cash prize which, until Witherford Watson Mann walked away without a cheque in 2013, had been handed to every winner since 1996. Under the deal, the award was to be renamed the RIBA Brockton Stirling Prize and the prize money officially reinstated next year (2015).
However, according to the institute, both parties have now agreed to walk away from the contract, meaning the £20,000 prize money can no longer be guaranteed.
An RIBA spokesman said: ‘[The] RIBA and Brockton Capital have reached a mutual agreement to end their sponsorship arrangement related to the RIBA Stirling Prize 2015.
‘As the £20,000 awarded to the winner of the prize is reliant on sponsorship, it cannot be guaranteed for 2015.
‘The RIBA is in discussions with potential new sponsors and looks forward to developing the RIBA Stirling Prize with the support of a new partner.’
Speaking after the RIBA announced the deal with Brockton earlier in the year, RIBA chief executive Harry Rich said the agreement signalled a ‘new chapter for architecture’s most significant prize’.