Landmark deal between LACMA and mega-collector Budi Tek moves a step closer
“....the latest development involves establishing an endowment between Lacma and Tek’s Yuz Museum in Shanghai. ...Govan tells The Art Newspaper that ‘we’re laying out a roadmap during our meeting in Hong Kong. This is a complex step-by-step process, which will involve putting the collection into a foundation first, as we’re finding friends and sponsors. The idea is that [Budi Tek’s] collection resides in China at the Yuz Museum; this is for China, just like our collection is for Los Angeles, but the works could be loaned to us—as we are lending works to China.’ A board of trustees will be set up to oversee the collection and foundation.“
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