The legacy of pop artist Robert Indiana has reached an agreement that maintains a long-term relationship with the Morgan Art Foundation, which is patented by his landmark 1960 series “LOVE”, to promote and preserve his work, officials said on Friday.
The New York-based Morgan Art Foundation aims to work with the Maine-based Star of Hope Foundation, which aims to turn the Indiana island home into a museum to celebrate his work.
As the museum progresses, both organizations will work to showcase Indiana art in locations around the country.
“We have done a lot of good, but we have been hidden from the public,” said Larry Sterrs, chairman of the Star of Hope Foundation. The museum’s demolition could take years, he said.
The Indiana estate, valued at more than $ 80 million, was frozen in court by the Morgan Art Foundation. The case was filed the day before Indiana’s death on May 19, 2018, at the age of 89 on Vinalhaven Island, 25 miles [25 km] from Rockland, Maine.
He accuses the caretaker of the artist and art publisher of his exploits in Indiana and produced fake ones – allegations they both deny. That has led to many claims and counter-claims.
Under the agreement, Morgan withdrew his lawsuit against the estate and manager of Indiana but not against the art publisher.
Nor does it resolve a case brought by Maine’s attorney general, who claims that the estate was paid in excess of legal fees during the trial. The lawsuit alleges that $ 3.7 million was paid to four law firms and that about $ 400,000 collected by an estate agent was excessive.
Indiana has created a lifetime of art but is best known for LOVE, written in two letters on the line and “O.”
It has been converted into sculptures around the world, and shown on a US postage stamp.
The goal is to showcase such art in a local museum to be built in the Indiana residential area at the converted Odd Fellows Hall, a Victorian style building, in Vinalhaven. Indiana also had many other facilities that could be used for art museums, art education and programs for artists who live in them, Sterrs said.
In the meantime, the Morgan Art Foundation and the Star of Hope Foundation will work together to make the art work visible to people in locations around the country, Sterrs said. Most of the $ 80 million assets mentioned in court documents come from the art collection.
“The future is bright for the market and the legacy of Robert Indiana, and the legacy is pleased to have helped create this success,” said James Brannan, Rockland’s attorney for the estate.