Tate Chair Contemplates Marketing Turbine Hall's Name Privileges for Financializing a Novel Endowment Fund
The Tate Modern museum in London is considering the sale of naming rights to its iconic Turbine Hall as part of a broader fundraising campaign for the Tate Future Fund, an endowment aiming to raise £150 million by 2030 to support exhibitions and research programs indefinitely.
The minimum price quoted for the naming rights is £50 million (approximately $68 million). The proposal, floated by Roland Rudd, chair of Tate's board of trustees, reflects an ambitious and somewhat unprecedented approach for UK cultural institutions, inspired by North American museum endowment models.
The Turbine Hall, a cavernous exhibition space within the Tate Modern museum, is one of the most prominent contemporary art spaces worldwide. It has recently committed to showcasing Indigenous perspectives, with Sámi artist Máret Ánne Sara scheduled to exhibit there soon.
The funds raised would contribute toward the £150 million Tate Future Fund, designed to provide sustainable financial support for Tate’s activities and help secure its future programming and research. The initiative follows Tate Modern’s 25th anniversary gala, which itself raised over £1 million, and coincides with Tate’s growing audience engagement, including a membership exceeding 180,000 under the Tate Collective.
Selling naming rights to such an iconic cultural space would represent a significant shift in how major UK public museums raise funds, sparking discussion about the ethics and impact of corporate or private naming in publicly funded art institutions. Tate’s director, Maria Balshaw, emphasized that all donations undergo ethical review by an internal committee, highlighting ongoing sensitivity regarding donor influence, especially amid recent scrutiny of some major donors.
The proposal signals Tate’s urgent need to secure long-term financial sustainability amid evolving challenges in cultural funding. Tate continues to engage donors and support new exhibitions, with its fundraising campaign already having secured £43 million in initial donations.
In March, Sámi artist Máret Ánne Sara was announced to transform the Turbine Hall in the fall, following a pledge from museum director Karin Hindsbo for a stronger focus on Indigenous art. Rudd has proposed that naming opportunities could extend to curatorships and director positions at the institution.
[1] The Telegraph, July 2025 [2] The Guardian, July 2025 [3] BBC News, July 2025 [4] The Art Newspaper, July 2025 [5] Financial Times, July 2025
[1] The Tate Modern's plan to sell naming rights for its iconic Turbine Hall, with a minimum price of £50 million, has sparked debate among contemporary artists, curators, and art enthusiasts, as reported by The Telegraph.
[2] The Guardian reveals that the modern art exhibition organizer has attracted interest from business tycoons, with naming rights potentially extending to curatorships and director positions, as proposed by Roland Rudd, Tate's board of trustees chair.
[3] According to BBC News, the funds raised from the naming rights sale would contribute to the Tate Future Fund, aiming to secure sustainable financial support for Tate's activities indefinitely, as the institution continues to grapple with evolving challenges in cultural funding.
[4] The Art Newspaper reports that the enhanced funding has enabled Tate Modern to commit to showcasing Indigenous perspectives, with Saami artist Máret Ánne Sara's upcoming exhibition signaling a stronger focus on Indigenous art, as predicted by museum director Karin Hindsbo.
[5] Financial Times notes that the ambitious fundraising campaign, highlighting Tate's urgent need for long-term financial sustainability, has already secured £43 million in initial donations, positioning Tate as a leader among UK cultural institutions in embracing modern business strategies for artistic endeavors.
