1. Main
  2. Learn
  3. Life
  4. Entertainment, Style

Contract that launched The Beatles up for sale

©REUTERS ©REUTERS

The contract that launched the career of The Beatles will be sold in London later this month and is expected to fetch up to £500,000 (681,000 euros, $760,000), Sotheby's auction house said on Saturday, AFP reports.

The document was signed by John Lennon, George Harrison, Paul McCartney and Ringo Starr with their manager Brian Epstein on October 1, 1962 -- four days before the release of their first single "Love Me Do".

Harrison and McCartney were under 21 at the time so their fathers acted as co-signatories and there was a clause in the contract stating that band members could be expelled "should two or more of them desire".

The document also outlined the different commission rates that Epstein would receive for earnings of up to £400, up to £800 and more than £800 a week.

"Without this contract, and the relationship it represents, it seems inconceivable that the Beatles could have achieved all that they did," said Gabriel Heaton, Sotheby's specialist in books and manuscripts.

Epstein, who died from an accidental overdose in 1967, was dubbed the "Fifth Beatle" by McCartney.

The Beatles came out of Liverpool in northwest England to become one of the best-selling and most influential rock bands in history.

Founding member Paul McCartney and drummer Ringo Starr are still alive, while John Lennon was shot dead in 1980 and George Harrison died of cancer in 2001.

The contract will go on sale on September 29.


Nobel prizewinner proposes a new city in KZ
New abnormal snowfalls expected in Kazakhstan
Huge glacier retreat triggered in 1940s
Hyperloop construction begins in Las Vegas
"Moonlight" to top Spirit Awards nominations
Oil prices fall due to investors uncertainty
New dwarf galaxy discovered around Milky Way
Kanat Islam becomes a top ten WBO boxer
World oil prices continue to rise
Kazakhstan expects warming - Kazhydromet
Merkel to seek fourth term as chancellor
Sale of Tintin drawings set to break records
US, EU stocks fall as markets focus on dollar
Pacific leaders urged to defend free trade
EU warns eight nations on budget deficit
Universiade-2017: Athletic Village is ready
Bob Dylan can't make Nobel ceremony
Messi will never leave Barca - club president
Google, Facebook take aim at 'fake' news
Aerosmith announces Europe 'farewell' tour
Putin, Trump to normalise US-Russia ties
At least 10 hurt in southern Turkey blast
6.2 quake hits western Japan
OPEC agrees shock oil output cut
Israeli ex-president and Nobel laureate Peres dies
Germany blocks WhatsApp data transfers to Facebook
32,000 arrested in Turkey coup probe
Youth to the fore as Milan fashion week opens
Xenophobia threatening peace in eastern Germany
Four-in-10 Japanese are virgins: poll
Sweden re-militarises Baltic island of Gotland
China to launch second space laboratory: Xinhua
More than a billion stars mapped in Milky Way: ESA
Boxing: Golovkin eyes Saunders after stopping Brook
Kazakhstan shifts PM to security chief
Oil prices gain despite rising OPEC supply forecast
US to give Philippines military planes
Singapore wages war on Zika-bearing mosquitoes
Italy quake death toll nears 250
Viral photos add fuel to French burkini debate
18 dead as Italy struck by powerful quake
Japan's first lady visits Pearl Harbor
Pokemon's a no-go on Bangkok's roads
July was Earth's hottest month in modern times
Pakistan rock climbers scale new heights