A source from the Ministry for Culture told Lusa News Agency that “the state will keep its right of preference in purchasing the collection”, which is made up of around 900 individual pieces, as per the agreement signed this year.
An addendum added to the new protocol determines that the quota paid by the State to the Berardo Foundation, which runs the museum, for expenses relating to the functioning of the programme, will be defined every two years instead of yearly, as originally agreed.
The Berardo Collection will remain at the Belem Cultural Centre for a further six years, following the deal reached between the Ministry of Culture and Joe Berardo.
Madeira-born entrepreneur José Manuel Rodrigues Berardo, who is better known as Joe Berardo, is a Portuguese businessman, stock investor, speculator and art collector.
One of seven children, he emigrated to South Africa when he was 18 and worked his way up to becoming one of the most renowned and wealthiest Portuguese entrepreneurs.
The deal establishes that the 900-piece collection will “stay exactly where it is, at least until the end of 2022.”
The previous agreement was due to expire at the end of this year.
Newspaper Público reported the agreement reached between the businessman and the Government to keep the collection at the CCB – with the government having first dibs on it – will be automatically renewed from 2022 if it is not renounced by either of the parties in the meantime.
Dealings between the two parties regarding the collection had been initiated before summer, and the official signing took place on Wednesday this week.
It is up to the Berardo Foundation to decide whether entry to the collection at the CCB will still be free.
Público reported that the Berardo Foundation “will be responsible for ticketing expenses and is obliged to offer free entry at least one day a week.”
The Berardo Museum opened with an initial collection of 862 pieces, at the time evaluated by auction house Christie’s at €316 million.
More than six million people have visited the museum since its opening nine years ago.