On 28 April 2005, the Council of Casino Spa decided to sell 80% of the company to François Pinault. François Pinault declared that next autumn he will reopen Palazzo Grassi; the event will be the permanent exposition of his contemporary art collection, considered one of the most exhausting of the world, an heritage which includes artists such as Cattelan, Koons, Rothko, but also Warhol, Modigliani, Mirò.
But the real impact will be given by works and installations belonging to one part of the Pinault collection, that is going to be presented in turns “...I’ll bring to Venice the works of the Italian Arte Povera...” it is about works of the Seventies by a movement which had between its exponents Manzoni, Paolini, Zorio, Boetti etc. Conceptual works realized with poor materials, impact installations like cranes or machines.
“The operation – stressed Cacciari, mayor of Venice – will not imply any costs for the City Council Administration, since everything will be at the expense of the buyers, who will also reorganize Palazzo Grassi’s theatre, in order to exhibit in turns the Pinault collection.”