Charles Saatchi to Hand Over Saatchi Gallery to British Government, Rename It 'Museum of Contemporary Art, London'

With last year’s book release and (poorly received) BBC series, advertising and art collecting big shot Charles Saatchi has opened himself up to the public more recently than ever. And now he’s made an even largely gesture with the announcement that, upon his retirement, he will hand over his two year old Saatchi Gallery to the British government, at which time it will be renamed the Museum of Contemporary Art, London. He’s also throwing in £25 million worth of art to make sure the museum has enough to work with upon its (re-)opening.