Young Vic the entire faculty resigned from the Old Vic, but in 1969 Frank Dunlop became founder-director of The Young Vic theatre with his free adaptation of Molière's "The Cheats of Scapin", presented at the new venue as a National Theatre production, opening on 11 September 1970 and starring Jim Dale in the title role with designs by Carl Toms (decor) and Maria Bjornson (costumes). Initially part of the National Theatre, the Young Vic Theatre became an independent body in 1974. In the words of Laurence Olivier, then director of the National Theatre: "Here we think to develop plays for young audiences,
The Old Vic Great Britain: this was on the basis of it being a touring company, and the Council – already funding the National Theatre and the Royal Shakespeare Company in London – could not accept a case for a third major company in the capital and repeatedly refused requests to fund any London seasons staged by Prospect. Therefore, any London-based productions would have to succeed financially without Arts Council support. Prospect's first season at the Old Vic recouped its costs but left no surplus to fund future productions. Further stagings by visiting companies were box office failures and stretched the theatre's finances