The Mercury Music Prize, which annually honors new and innovative music in the U.K., has secured a four-year sponsorship deal with Nationwide Building Society. The deal comes into effect with this yea

The Mercury Music Prize, which annually honors new and innovative music in the U.K., has secured a four-year sponsorship deal with Nationwide Building Society. The deal comes into effect with this year's award, which will be handed out in September.

A "shortlist" naming the 12 finalists for the Nationwide Mercury Prize album of the year will be unveiled July 20.

Nationwide plans to introduce new initiatives to the event, including a Nationwide Mercury Art Competition and Exhibition, with the winning painting to be used as the cover of a compilation CD release.

Teenage British rapper Dizzee Rascal won last year's Mercury Prize for his debut album, "Boy in Da Corner" (XL Recordings).

The Mercury Prize was previously sponsored by Panasonic.