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The winner of the Man Booker will generally be assured of international fame and success. It is also a mark of distinction for an author's work to be selected for inclusion on the Booker longlist or Shortlist . The prize was originally known as the Booker-McConnell Prize, after the company Booker-McConnell plc began sponsoring the event in 1968 , and became commonly known as the "Booker Prize" or simply "the Booker". When administration of the prize was transferred to the Booker Prize Foundation in 2002 , the title sponsor became the investment company Man Group Plc , which opted to retain "Booker" as part of the official title of the prize. The prize money awarded with the Booker Prize was originally £21,000, and was subsequently raised to £50,000 in 2002 under the sponsorship of Man Group. JUDGING The selection process for the winner of the prize commences with the formation of an advisory committee which includes an author, two publishers, a literary agent, a bookseller, a librarian, and a chairperson appointed by the Booker Prize Foundation. The advisory committee then selects the judging panel, the membership of which changes each year, although on rare occasions a judge may be selected a second time. To maintain the consistent excellence of the prize, judges are selected from amongst leading literary critics, writers, academics and notable public figures. WINNERS See Also: List of winners and shortlisted authors of the Booker Prize for Fiction SOME STATISTICS
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