First thebeatles management contract sells in auction for $347,000
The document was signed by principal members John Lennon, Paul McCartney, George Harrison and original drummer Pete Best for the services of manager Brian Epstein.
The contract guaranteed Epstein -- who died of a drug overdose in Aug. 1967 -- a 10% fee that would rise to 15% if the band's income exceeded $150 a week; McCartney had negotiated the fee down from 20%. "This contract was a transformative document not only for The Beatles, but also for the 1960s and popular culture of the time," said Sotheby's Books and Manuscripts specialist Gabriel Heaton in abefore this week's auction.
Epstein discovered the band when they were performing at Liverpool's Cavern Club on Nov. 9, 1961, at which point the then record shop owner/music writer was determined to work with the group. Epstein, who had no prior management experience before pitching his services to the then-unknown foursome, did not actually sign the final document, which, Sotheby's noted, meant he was bound to the Beatles, but they were not obligated to work with him.
McCartney, Harrison and Best were under 21 at the time of the signing in Epstein's office at his NEMS record shop in Whitechapel, so they had their fathers summoned to co-sign the document.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Whitney Houston Earns First Hot 100 Debut in 10 Years With Kygo Collab 'Higher Love'Whitney Houston charts her first posthumous debut on the Billboard Hot 100, as 'Higher Love' with Kygo enters at No. 63.
Read more »
Rep. Eric Swalwell becomes first 2020 Democrat to drop out of raceBREAKING: Eric Swalwell becomes first 2020 Democrat to drop out of race
Read more »
First black African headed for space dies in motorcycle accidentA South African man who was expected to become the first black African in space was killed when his motorcycle was struck by a car this weekend.
Read more »
U.S. consumer inflation outlook rises for first time in three months: NY Fed surveyU.S. consumers in June lifted their inflation expectations for the first time in...
Read more »
Swalwell ends presidential campaign less than two weeks after first debateThe California Democrat had struggled to gain traction in the crowded primary field.
Read more »
The worst part of the first trimester that no one talks aboutNo, it's not the morning sickness
Read more »