Officials with General Motors, Ford and Chrysler say they are looking at the possibility of making a joint contribution that would help prevent the sale of artwork from the Detroit Institute of Arts. It's being reported the donation would total around $25 million. A number of charitable contributions from organizations and individuals have also been pledged.

State lawmakers are also discussing making arrangements to have the state allocate some money as well in an effort to keep the entire collection intact.

There has been talk of possibly selling a portion of the collection to help the city cover its debts.

Detroit Institute of Arts - Photo by Getty Images