Wiener Kunstforum before the out: sponsorship bankruptcy draws big waves!

The Bank Austria makes drastic decisions in its art promotion, which have far -reaching consequences for the renowned art forum in Vienna. Due to the bankruptcy of the real estate group Signa, whose bankruptcy also causes a stir in the art scene, Unicredit Bank Austria is forced to rethink its financial support for the art forum. Signa was not only the landlord, but also the largest sponsor of the art forum for many years. This change means that further operation of the art forum is no longer possible for economic reasons, as the bank announced on Monday. "For a future -oriented continued operation, additional high investments are also necessary that cannot be implemented under the given conditions," emphasized the bank in its explanation, which is addressed in the Reporting by ORF

In the past few weeks, the bank had said that it has been intensively trying to secure a long -term rental agreement for the art forum. However, these negotiations failed due to the changed framework. "We hope to be able to achieve an agreement on an orderly termination of the rental agreement," continued the bank. Although the bank gives up its role as a museum operator, it plans to continue to provide considerable funds for the promotion of cultural initiatives - including an additional million euros. Nevertheless, the "reorganization" of sponsorship is unavoidable to create a sustainable financial basis, such as reports.

The art forum, which has attracted around 230,000 visitors annually since it opened in 1980, is now facing an uncertain future. The current exhibition "Gauguin - Unexpected" runs until January 19, while the opening of the exhibition "Anton Corbijn - Favourite Darkness" was already planned for February 2025. A show to the artist Marina Abramović should also take place from October 2025, but the future implementation of these projects is threatened by the financial uncertainties. This increases the already tense Situation in the art world in Vienna, since the significant role of the real estate company Signa no longer exists, which has a lasting impact on promoting art projects and institutions.