Corporate sponsorship can be a great thing for a cultural institution when it works…and a disaster when it doesn’t.

One of the most important and well-loved music events in Europe’s summer calendar, “Progetto Martha Argerich” (the Martha Argerich Project) is under threat of closure due to a lack of sponsorship.

The Argentine pianist’s annual festival in Lugano, Switzerland, now in its 15th year, brings together musicians from all over the world. The highlights of the festival are captured every year on a three-disc set by Warner Classics (the 2015 edition, featuring Argerich with pianists Stephen Kovacevich, Nicholas Angelich, Sergio Tiempo, cellist Gautier Capuçon, violinist Ilya Gringolts and clarinettist Paul Meyer has just been released). The event attracts loyal supporters, many, like Angelich, Tiempo and Gringolts, who return almost every year.

Despite the festival’s high standing, according top the organisers the main sponsor, private Swiss bank BSI, will no longer be funding the festival, Ticino News reported. read more at limelightmagazine.com.au