Daniel Wakin has the details at nytimes.com, including details of a broadcast deal that was made behind Luisi’s back involving his successor, Christian Thielemenn.

This is an enormously important development in the highest echelon of the art and business of classical music. The Sächsische Staatsoper u. Staatskapelle Dresden was founded over 460 years ago, and is arguably one of the half dozen or so greatest classical music institutions on the planet. It is also one of the last orchestras to maintain a unique sound that is anywhere close to that it had in the early 20th century.

Maestro Luisi’s recent CD, SACD and video recordings with the Staatskapelle Dresden have been consistently and enormously impressive, as were the orchestra’s New York concerts last season under his direction. Luisi’s appearances at the MET over the last few years have also left a strongly positive impression.

This is a move that a number of America’s most prestigious music institutions are surely evaluating with interest.