Foundations Moving Toward DIA Deal, Possibly Today

The Detroit Free Press reports that a deal to take DIA’s art off the table in Detroit’s bankruptcy is imminent and could be announced as early as today:

One source, who spoke on the condition of anonymity, said talks are at a delicate stage and there are “a number of moving parts,” including what role the state would play in any deal.

But there’s a 50/50 chance the “grand bargain” will be announced today, the source said, in part because of concerns about inaccurate speculation.

The foundations, which range from nationals such as Ford and Kellogg to local institutions such as Skillman and the Community Foundation for Southeast Michigan, were preparing Sunday to make a joint statement that reflects their enthusiasm at being involved in efforts to help the city get back on its feet.

Darren Walker, CEO of the Ford Foundation in New York, has reportedly taken a lead role in structuring the deal and bringing other foundations into it.

Deal could come as early as today to protect DIA art, Detroit pensioners (Detroit Free Press)