One of Madrid\u2019s most high-profile museums, the Museo Nacional Thyssen-Bornemisza, has announced plans to open a second space in the city that will house a contemporary art collection donated by the philanthropist and collector Francesca Thyssen-Bornemisza and her heirs.<\/p>\n
Under the project plans, she will donate more than 180 works worth an estimated \u20ac16m \u201cfree of charge\u201d to the venue described as a \u201ccivic hub for contemporary art, ecology, and public participation\u201d, according to a statement.\u00a0The donated works, which will pass into public ownership, are drawn from the TBA21 Collection set up by Francesca Thyssen-Bornemisza in 2002.<\/p>\n
A long-term loan of around 180 additional works, valued at around \u20ac10m by the auction house Phillips, also forms part of the deal. Artists represented in the collection include Ai Weiwei, Marina Abramovi\u0107, John Akomfrah, Monica Bonvicini and Candice Breitz.<\/p>\n
The new venue, located at the Palacio del Hielo y del Autom\u00f3vil on Calle Duque de Medinaceli in the Spanish capital, will be refurbished by the Spanish government following two decades of disuse. The Spanish government will also meet the running costs of the new space, according to a spokesperson. An international architectural competition will be launched early next year, with construction scheduled for completion around 2031.<\/p>\n
The Spanish minister of finance, Arcadi Espa\u00f1a, says in a statement that the Palacio de Hielo y del Autom\u00f3vil \u201cis today regaining a purpose worthy of its history\u201d through the museum expansion, as a former space for historic and scientific research.<\/p>\n
Plans to host contemporary art shows at the museum were initially shelved in 2008. Following a John Akomfrah exhibition in 2018<\/a>, however, TBA21 signed a four-year agreement with the Museo Nacional Thyssen-Bornemisza the following year to present a series of contemporary art exhibitions from the TBA21 Collection, along with contemporary commissions. In 2020, Francesca Thyssen-Bornemisza said: \u201cI am not in a hurry to have a building with my name on it. The biggest mistake is to try and copy national museum models.\u201d <\/p>\n The Museo Nacional Thyssen-Bornemisza, located near the Prado, houses the collection of Francesca\u2019s father, Hans Heinrich von Thyssen-Bornemisza, which was bought by the Spanish government for around $350m in 1993.<\/p>\n