But the main part of the funding was still down to Royal Mail - and it is now reported that as Royal Mail have decided they cannot afford this funding, the BPMA trustees "have decided not to continue with plans to develop a new base in Swindon, Wiltshire."
See their blog statement here.
The country which invented the postage stamp hasn't had a postal museum for 13 years. So, let's pass the hat round and see if we can raise £20 million between us. Given the number of collectors and businesses which make money from the hobby, it ought to be possible, surely?