The orchestra, which eliminated a Ô£3.5 million debt three years ago thanks to an Arts Council "stabilization grant," posted a surplus of Ô£204,000 for the last fiscal year. The funds from the special grant, the largest given anywhere in the U.K., run out next March.
In addition to the unnamed local corporate sponsor, the Liverpool City Council is also talking to the RLPS about further support. The City Council now gives the orchestra Ô£820,000, with Ô£80,000 more added by neighboring authorities.
The new sponsor will be announced in early November. In the meantime, the RLPS is forging ahead with programming, including plans for possible international tours, and an engagement to play at next year's BBC Proms concerts.