Composer Andrew Lloyd Webber will sell his Picasso to raise money for charity.

The painting could make up to £33m at auction, raising funds for as yet undecided causes, thought to include the theatre and arts.

"If the picture sells successfully, it will be fantastic to have a charitable fighting fund with the freedom to support other excellent causes, particularly in the theatre and music worlds," he said. "I am passionate about the training and education of young performers."

The musician bought the Spanish artist's 1903 Blue period portrait of friend Angel Fernandez de Soto for £18m in 1995