The Literature Prize, the book prize founded by Aitken Alexander m.d. and agent Andrew Kidd, has secured a sponsor, with its identity to be revealed in February 2013.
The first prize will be for books published between January and December 2013 and will be awarded in March 2014. There will be no restriction on a writer's country of origin, or the genre of the works. The organisers said: "The sole criterion will be excellence."
The £40,000 award was announced by Kidd during Frankfurt Book Fair in 2011, and was set up to "establish a clear and uncompromising standard of excellence". The prize will take on the sponsor's name when it is announced in February.
The five judges will be drawn annually from a body of writers, critics and academics immersed in the world of literature. The prize advisory committee includes William Heinemann, Hutchinson and Windmill publisher Jason Arthur; Virago associate publisher Ursula Doyle; Picador editorial director Kate Harvey; and RCW director Georgia Garrett. Literary critics Alex Clark and Suzi Feay will also sit on the panel as well as former Pan Macmillan PR chief Jacqui Graham.
PR and communications consultancy FMcM will take on full PR responsibility for the prize. Sunday has been appointed as the prize's marketing agents and are currently working on the prize's logo and website.