Singer Robbie Williams to court investors: report
LONDON (Reuters) - British singer Robbie Williams may sell the right to half his future album, touring and sponsorship earnings in a 50 million pound ($83 million) deal, one of his managers was reported to say on Saturday.
Managers for Williams, whose hits including "Angels" and "Let Me Entertain You," will court investors as a possible alternative to signing up with a record label, The Times newspaper said.
The former Take That singer is nearing the end of a 55 million pound, four-album deal with British music group EMI.
"Obviously we are talking to several record companies about a new deal for Robbie, but we are also looking at talking broadly to all potential investors, including financial institutions," Tim Clark, one Williams' advisors, was quoted as saying.
Potential investors would be sounded out in the first half of next year, though it was possible the singer would re-sign with EMI, he added.
The potential scheme would involve financial partners paying a cash advance in the hope eventual earnings exceeded the investment.
Previous singers to have tapped financial markets include David Bowie, who launched the Bowie Bond in 1997, when he raised $55 million guaranteed against 10 years' worth of royalties generated by his songs.
Clark was unavailable for comment.
(Reporting by Avril Ormsby; Editing by Matthew Jones)
© Thomson Reuters 2016 All rights reserved.