Lisa Jardine is head of prize jury

Jonathan Taylor, chairman of the Booker Prize foundation, said there had been many inquiries to take over the sponsorship.

"We chose the Man Group because of their enthusiasm for the Booker Prize and their commitment to its future development," said Mr Taylor.

"We look forward to working with them in the months and years to come."

Harvey McGrath, chairman of the Man Group, said he was "delighted" to be associated with what is "undoubtedly one of the most prestigious literary prizes in the world".

Last year Peter Carey won his second Booker Prize with True History of the Kelly Gang, beating Ian McEwan's novel Atonement.

McEwan won the BBC People's Booker, which was voted for by members of the public by telephone and online.

Jury

Writer, critic and broadcaster Professor Lisa Jardine has been named as the chair of this year's panel of judges.

The panel comprises novelist and comedian David Baddiel, novelist Russell Celyn Jones, novelist and analytical psychologist Sally Vickers and Erica Wagner, literary editor of The Times.

The Booker long list - about 25 titles under serious consideration for the prize - will be announced in mid-August, and the shortlist in mid-September.

The judges will announce the winner at an awards dinner in late October.