Detroit's Three automakers are considering making significant donations to the Detroit Institute of Arts worth potentially millions of dollars as part of a "grand bargain" to help the city of Detroit exit bankruptcy and protect city-owned art and public pensions.
A person briefed on the matter said at least one of the automakers was asked to contribute $25 million. It's not clear how much General Motors Co., Ford Motor Co., and Chrysler Group LLC are considering donating, but it is sizable.
“Ford has been a long-time supporter of the DIA and its contributions to southeast Michigan. We are having confidential discussions with the DIA and are considering the matter very carefully,” Ford spokesman Todd Nissen said.
GM said the automaker is also considering its options.
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