The International Booker Prize will be renamed the Bukhman International Booker Prize from 2027 following a new decade-long sponsorship agreement with Bukhman Philanthropies. The foundation, established by Dmitry and Daria Bukhman, has committed £1.4 mln annually to support the prestigious award for translated fiction.
The new funding will also double the main prize from £50,000 to £100,000, with the award continuing to be shared equally between the winning author and translator. Prize money for shortlisted books will remain unchanged.
According to the Booker Prize Foundation, the partnership aims to strengthen support for translated literature and the work of literary translators. The organisation noted that sales of translated fiction in the UK have risen significantly since the prize was revamped in 2016, with younger readers driving much of the growth.
The renamed award will debut with the 2027 edition, marking the first title change since the prize became the International Booker Prize in 2019.
