Beginning on March of 2015, Brazilian entrepreneur Heitor Martins will assume the post of President of the Museu de Arte de São Paulo alongside a new team of 83 permanent and temporary advisors. Martins, who presided over the Fundação Bienal de São Paulo and successfully spearheaded its financial rescue, will resume the R$12,000,000.00 project that the Brazilian Ministry of Culture and the Brazilian telecommunications company VIVO financed for the expansion of MASP. In a recent interview for the morning newspaper Folha de São Paulo, Martins confirmed the financial commitment by the new advisors of MASP to donate R$10,000,000.00 to settle the institution's outstanding costs. The new management model will add the participation of Banco Itau, whose resources will be used for an institution that aims to become the most important museum in Latin America. Source: "MASP elege empresario Heitor Martins presidente e ratifica novo conselho" Martins, Silas, 17/09/2014, Folha Ilustrada, Folha de Sao Paulo.