Iconic London music venue The 100 Club is close to being saved, with owners negotiating a sponsorship deal.
Founded during the Second World War, the 100 Club has been at the centre of virtually every youth movement Britain has produced. From bebop to punk, from The Rolling Stones to The Libertines the venue has seen it all.
Recently, though, spiralling rents and rising costs have made the 100 Club difficult to sustain. The London venue announced that unless funding was found it would close its doors before Christmas.
A high profile campaign was launched to save the venue, with the 100 Club enjoying the support of rock royalty. Members of The Rolling Stones dropped by, while Sir Paul McCartney recently played a show at the 350 capacity venue.
Now owner Jeff Horton has revealed that the renewed publicity has helped firm up a sponsorship deal. The 100 Club is now "in talks" with a potential sponsor who could inject cash into the business.
"We are actually in talks now with somebody who's stepped forward who wants to sponsor the club," he told the Evening Standard newspaper. "I can't tell you any more than that because I've signed terms so I'm tied to a confidentiality agreement."
"I'm hopeful that something positive can be announced in the next week or so," he said. "It would involve the club keeping going – it would remain with me."
Pushed on the identity of the sponsor, Horton refused to give away any further details. "It's someone who knows we need a bit of support financially because it is more and more difficult to be independent in this day and age."
"If we're going to keep going and the club's legacy is going to continue, we need some support."
An announcement on the future of the 100 Club is expected next week.