Wednesday, December 3, 2008
Eli Broad's Strings (No Strings!)
The LA Times has more on the Broad offer, including the "strings" that some insiders have been hinting at. It appears that Broad initially insisted, as a condition of his $30 million cash infusion, that the Broad Foundation gain control of MOCA's permanent collection for lending purposes. In other words (so it sounds like), anyone wanting to borrow the great Pollock or some Rothkos would have had to clear it through the Broad Foundation. Broad has backed away from that. He told the LA Times that his only goal now is "keeping MOCA a vibrant, independent museum for the city ... with a vibrant exhibition program on Grand Avenue. The fear I have is a New York Times story that says, 'L.A. Museum Fails' or 'Closes.' "