The T. S. Eliot Prize for Poetry is a prize that was, for many years, awarded by the Poetry Book Society (UK) to "the best collection of new verse in English first published in the UK or the Republic of Ireland" in any particular year. The Prize was inaugurated in 1993 in celebration of the Poetry Book Society's 40th birthday and in honour of its founding poet, T. S. Eliot. Since its inception, the prize money was donated by Eliot's widow, Mrs Valerie Eliot and more recently it has been given by the T S Eliot Estate. The T S Eliot Foundation took over the running of the T S Eliot Prize in 2016, appointing Chris Holifield, formerly director of the Poetry Book Society as its new director, when the former Poetry Book Society charity had to be wound up, with its book club and company name taken over by book sales agency Inpress Ltd in Newcastle. At present, the prize money is £20,000, with each of nine runners-up receiving £1500 each, making it the United Kingdom's most valuable annual poetry competition. The Prize has been called "the most coveted award in poetry".The shortlist for the Prize is announced in October of each year On the evening before the announcement of the Prize, the ten shortlisted poets take part in the Readings at the Royal Festival Hall in London's Southbank. 2000 people attended the 2011 reading.
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