From 2005 to 2015 the Man Booker International Prize highlighted one writer’s overall contribution to fiction on the world stage. Worth £60,000, the prize was awarded every two years to a living author who published fiction either originally in English or whose work was generally available in translation in the English language.
On 7 July 2015, the Booker Prize Foundation announced that the Man Booker International Prize was to evolve from 2016 to a prize for fiction in translation and join forces with the Independent Foreign Fiction Prize.
The newly evolved prize is awarded annually for a single work of fiction, translated into English and published in the UK, rather than every two years for a writer's entire body of work. Both novels and collections of short stories are eligible.
The £50,000 prize is divided equally between the author and the translator. Each shortlisted author and translator receives £1,000.
The symmetrical relationship with the Man Booker Prize ensures that ‘the Man Booker’ can now honour fiction at its finest on a truly international basis.