British Museum signs £50m funding deal with BP

The British Museum has signed a 10-year deal with energy giant BP who will contribute £50 million towards its ambitious redevelopment plans.

The museum’s masterplan, described as making the Bloomsbury institution “fit for the 21st century”, includes designs for a new Energy Centre intended to phase out its use of fossil fuels and an international competition to find an architect to redevelop around 7,500 square metres of existing gallery space.