Both the construction (estimated at CHF 100 million) as well as the running of Les Arts Gstaad are privately financed. The operational fund of over CHF 50 million 
will privately finance any operating deficits, maintenance and renovation by means of contributions, donations and non-returnable contributions. The public sector would create the best possible conditions for the project. The municipality of Saanen would provide the land and the public transport connections, and would also cover the development costs. 
 The canton is releasing the Les Arts Gstaad foundation from any municipal, cantonal and 
national taxation. The Swiss Confederation is subjecting the foundation to value-added tax. Input tax can thus be claimed immediately. This is all advance work by the public sector. It is within the framework of more than CHF 100 million, made up of active investments or waiver. A fund of CHF 35 million is to be set up for the lasting further development and continuity of the Menuhin Festival.

Update on the procurement of finance

In view of the changing situation on the financial markets, the Foundation Council of LES ARTS GSTAAD has been carefully considering its financial procurement strategy for some time past. The ongoing development of the winning project, from the competition through to planning permission, has been financed on the basis of subventions from donors who do not expect repayment.

Fundraising is now being focused on the aim of obtaining binding assurances of financial support from patrons of the arts, with a view to realising the entire project of LES ARTS GSTAAD. These assurances are being given subject to official planning permission being obtained for the project – that is to say, the consent of the local council must first be given, and any possible objections resolved or accommodated.