The BBC reports:

Art collector Charles Saatchi is gifting more than 200 works and his Saatchi Gallery to the British public, it has been announced. The artworks, including Tracey Emin’s My Bed and Chapman brothers works, are worth more than £25m ($37.7m). The 70,000 sq ft Saatchi Gallery in Chelsea, owned by Cadogan Estate, will become the Museum of Contemporary Art for London (Moca London). The museum will meet all costs and “no charges will fall to the state”.

Charles Saatchi Gives Gallery to Nation (BBC News)