 The new theatre was first proposed in 1802 at several sites in Bath until the current site was chosen in 1804; funding was raised by the use of a Tontine, an investment plan named after the Neapolitan banker Lorenzo de Tonti, who is credited with inventing it in France in 1653.It combined features of a group annuity and a lottery.Each subscriber paid an agreed sum into the fund, and thereafter received an annuity.