Document that launched the Fab Four's career to go under the hammer later this month
The contract that launched The Beatles’ career could fetch up to half a million pounds when it goes on sale for the first time.
The document will be up for grabs on September 29 at Sotheby’s “Rock & Pop” sale.
It is the only management contract signed by the final Beatles line-up - John,George,Paul and Ringo-and their manager Brian Epstein.
It was signed by them all on October 1 1962, just four days ahead of the release of their first single Love Me Do.
Gabriel
Heaton, Sotheby’s specialist in books and manuscripts, said: “Without
this contract, and the relationship it represents, it seems
inconceivable that the Beatles could have achieved all that they did: it
took more than inspired musicianship and song-writing to remake popular
music.
“The presentation, direction, and internal harmony of the
Beatles all owed a huge amount to Brian Epstein. He was, as Paul
McCartney has acknowledged, the Fifth Beatle.”
Epstein died from an accidental overdose in August 1967.
Prior
to this contract, the band, which then included Pete Best as drummer
instead of Ringo Starr, had signed a contract with Epstein.
But following Best’s replacement with Starr, they then drafted and signed the new contract.
At the time of signing, both McCartney and Harrison were under 21, so their fathers acted as co-signatories.
A few interesting terms of agreement in the contract included Epstein being appointed manager for five years.
He would receive 10% commission on their earnings up to £400 a
week, 20% between £400 and £800, and 25% for anything more than that
which they earned.
They also added a clause that stated members
of the band could be kicked out “should two or more of them desire to
remove one or more of the other Artists...with the consent in writing of
the Manager.”
No comments:
Post a Comment