Business · updated 2h ago · 2 min read
Kennedy Center Warns Of Bankruptcy Unless Donald Trump’s Name Is Added Back
Kennedy Center warns of bankruptcy and possible closure within days. Leadership linked to Trump says adding his name could avert fiscal collapse.
Whether Trump’s name is prerequisite for rescue or mainly fundraising.
8 of 10 outlets skipped it: main building closure immediately due to unsafe occupancy.
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The New York Times
“The board understands that without such appropriate recognition it is unlikely that President Trump will provide the fundamental oversight of the renovation of the main building and lead the fiscal rescue of the center,”Read the original ↗
France 24
“Publicly recognizing Trump at the center, they argue in the 57-page pre-meeting packet, would help ensure fundraising help to keep it afloat.”Read the original ↗
France 24 frames Trump’s name as fundraising help, while The New York Times frames it as enabling oversight and the fiscal rescue.
Bankruptcy Threat, Tuesday Vote
Leaders of the John F. Kennedy Center for the Performing Arts, installed by President Donald Trump, warned in documents obtained by The Washington Post that the center faces “certain fiscal collapse” within weeks and could close as early as Tuesday.
“certain fiscal collapse within weeks”
Reuters reported that the trustees’ report prepared for a meeting scheduled for Tuesday says the institution may be unable to pay employees or meet maintenance costs within a few weeks.
The Washington Post said the leaders argue that putting the president’s name on its facade may be the only way to avoid imminent and “certain fiscal collapse,” and that Trump will help if his involvement is acknowledged.
The New York Times reported that the warning appears in a draft resolution ahead of a board meeting scheduled for Tuesday and says the center risks bankruptcy and missing payroll unless Trump’s name is added back to the building in some fashion.T
Trump Recognition as Leverage
The New York Times reported that the draft resolution says Trump has “offered to step in and raise the necessary funds” to save the center, while also warning that without “appropriate recognition” it is unlikely he will provide “fundamental oversight” of the renovation or lead the fiscal rescue.T
CNN reported that board member and longtime Trump ally Paolo Zampolli told The Times, “Trump attracts money,” adding, “So when Trump says donate to this place, everyone will donate.”
France 24 said the board is expected to vote Tuesday on whether to close the main building due to financial and safety needs, and that officials warn the center “could be unable to make payroll or pay routine maintenance contracts” within weeks.F
The Washington Post reported that trustees are being asked to choose among 10 inscriptions to place beneath the building’s name, including language crediting “Renovation Restoration and Endowment overseen by President Donald J. Trump and the Trump Kennedy Center Fund.”
Closure, Safety, and Money
France 24 reported that the board packet includes a vote tied to structural safety concerns, with the Post saying the center could close the main building immediately because of deteriorating conditions.F
“unsafe for continued occupancy”
France 24 said a severe storm earlier this month involved a “roughly four-by-five-foot section of ceiling plaster” breaking loose in the Grand Foyer and falling about 60 feet, and that no one was injured.F
MEAWW News said the board packet also includes a separate resolution calling for the Kennedy Center’s main building to close immediately because of deteriorating structural conditions, and it quoted a draft resolution that the building is “unsafe for continued occupancy.”
Reuters reported that the Kennedy Center did not immediately respond to a request for comment, while the Post said Trump’s involvement with the center impaired fundraising work and ticket sales, and that the institution’s leaders argue public recognition is needed to avoid bankruptcy.