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Badfinger: Stan Polley Signed Document

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Badfinger: Stan Polley Signed Document
Item Details
Description
Important DS, signed "Stanley Polley, President," one page, 8.5 x 11, September 29, 1972. Agreement between Warner Bros. Records and Badfinger Enterprises, in part: "Concurrently herewith we are delivering to you signed documents covering the phonograph recording services of that certain group performing together as 'Badfinger,' together with our check for $500,000 payable to you. Said check is to be held by you until such time as the enclosed documents have been signed on behalf of Badfinger Productions...to be used by you to purchase Certificates of Deposit in such bank as you may select in the joint names of you and us with the proceeds thereof to be paid over to you, which said Certificates of Deposit are to be held in escrow." Signed at the conclusion by Badfinger manager Stan Polley and countersigned by Warner Bros. executive Joe Smith. In fine condition. This significant document relates to the advance funds that Polley ultimately hid, which caused Warner Bros. to sue Badfinger in 1974 and withdraw their recently released Wish You Were Here from record stores. The legal problems left Badfinger penniless, and led to lead singer Pete Ham's suicide in 1975.
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Badfinger: Stan Polley Signed Document

Estimate $400 - $600
Mar 15, 2018
Lot Closed
You can no longer bid on this lot.
Starting Price $200
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Ships from Boston, MA, United States
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5161: Badfinger: Stan Polley Signed Document

Est. $400 - $600Starting Price $200
Pop Culture
Mar 15, 2018 7:00 PM EDT
Buyer's Premium 22.5%

Lot 5161 Details

Description
...
Important DS, signed "Stanley Polley, President," one page, 8.5 x 11, September 29, 1972. Agreement between Warner Bros. Records and Badfinger Enterprises, in part: "Concurrently herewith we are delivering to you signed documents covering the phonograph recording services of that certain group performing together as 'Badfinger,' together with our check for $500,000 payable to you. Said check is to be held by you until such time as the enclosed documents have been signed on behalf of Badfinger Productions...to be used by you to purchase Certificates of Deposit in such bank as you may select in the joint names of you and us with the proceeds thereof to be paid over to you, which said Certificates of Deposit are to be held in escrow." Signed at the conclusion by Badfinger manager Stan Polley and countersigned by Warner Bros. executive Joe Smith. In fine condition. This significant document relates to the advance funds that Polley ultimately hid, which caused Warner Bros. to sue Badfinger in 1974 and withdraw their recently released Wish You Were Here from record stores. The legal problems left Badfinger penniless, and led to lead singer Pete Ham's suicide in 1975.

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