Sanctuary Group has added Sir Elton John to its management roster as part of a £16 million ($30 million) cash-and-stock deal to acquire the singer/songwriter's management company, Twenty-First C
Sanctuary Group has added Sir Elton John to its management roster as part of a £16 million ($30 million) cash-and-stock deal to acquire the singer/songwriter's management company, Twenty-First Century Artists.
"I look at it from the point of view that there is the Beatles, Elvis, the Rolling Stones and then Elton John," Sanctuary Group CEO Merck Mercuriadis tells Billboard.biz. "And of that group, only one of them is still making records as good as they were 30 years ago."
John co-founded Twenty-First five years ago with Frank Presland and Keith Bradley. In addition to repping John's creative and business affairs, the firm has worked with Jamiroquai, Mis-Teeq, James Blunt and other artists.
Under terms of the agreement, John, Presland and Bradley have each signed new five-year contracts with Sanctuary.
John is in the midst of a three-year residency with "The Red Piano" show at the Caesar's Palace Colliseum in Las Vegas. According to Billboard Boxscore, he has grossed more than $33 million from more than 47 sellouts since the stint began.
Sanctuary Artist Management's roster includes Morrissey, Beyonce, Guns N' Roses, Robert Plant, Nelly, Fleetwood Mac, Destiny's Child, Iron Maiden, Kelis, Slipknot, Manic Street Preachers, D-12, the Who, Xzibit, Jane's Addiction, Eve, Groove Armada, Slayer, Russell Watson and others.