Guggenheim Museum Bilbao (A): The gestation of the project

The U.S.-based Solomon R. Guggenheim Foundation is looking for a European city to house a modern and contemporary art museum under the Guggenheim brand. The authorities in the Basque Country find out and try to contact the foundation's director in New York, Thomas Krens. The interest of the Basque public administration goes beyond the cultural sphere: it is part of an ambitious plan to attract investors with the aim of regenerating metropolitan Bilbao. On the other hand, the foundation headquartered in New York is suffering from a financial crisis and needs to start generating a profit from the artwork in its collection. This is the first part of a case that is intended as an example of how the public sector, the private sector and NGOs can engage in collaboration. It also analyzes the steps in the negotiations toward reaching a collaboration agreement.