A little sponsorship goes a long way in the case of book prizes, and the Man Group, the hedge fund company that has sponsored Britain's most prestigious literary award since 2002, will continue doing so for another five years to the tune of 5 million pounds.

The Telegraph reports that the £1m-a-year Man Booker deal is an increase on previous years because more money is being put into projects linked to the prize, such as printing books in braille, joint ventures with libraries, and more money for the Man Booker International prize. As well, in order to continue attracting high profile judges, they will get an increased stipend from the current £5000.