Charles Saatchi says he wanted to donate art

LONDON, Nov. 28 (UPI) -- Charles Saatchi, a noted British art collector, says he offered his entire collection valued at $378 million to the Tate Modern Museum - but it was rejected.

However, Nicholas Serota, the museum's director, refused the donation without consulting his trustees, because he said the museum already had commitments, Saatchi told the Sunday Telegraph in an interview.

Saatchi said the Tate, which receives $56 million in government funding annually, missed crucial investment opportunities in the 1990s.

However, he praises the Tate as a museum of contemporary art and praised Serota, but he finds the exhibits disappointing and its curators lacking in ambition.

Meanwhile, Serota has denied Saatchi's statements and told The Art Newspaper Saatchi only offered to loan his 2,500-item collection.