Rights to 136 Judas Priest songs up for sale by K.K. Downing's administrators
A share of the royalty rights to 136 Judas Priest songs including ‘Breaking The Law’, ‘Painkiller’ and ‘Living After Midnight’ are up for sale.
The rights to a portion of the tracks are being sold by K.K. Downing’s administrators after the former Judas Priest guitarist’s luxury golf resort fell into administration.
According to Billboard, the founding Judas Priest star pumped millions into the 320-acre Astbury Hall estate in Shropshire, however it was put up for sale for £10million last year with administrators citing "tougher economic times within the wider corporate hospitality market" for placing "unsustainable pressure" on the business.
FRP Advisory partners Alastair Massey and Steve Stokes were appointed as administrators over three companies related to K.K.’s ill-fated venture.
They’re now selling a share of the back-catalogue owned by Ken Downing Limited, which currently generates an estimated £250,000 to £300,000 a year in royalties.
Alastair Massey comments: “Ken Downing was a founding member of Judas Priest, and was one of the driving influences of the band’s work up to his departure in 2011.
“As part of the administration process we are selling the rights owned by Ken Downing Limited to 136 tracks, which provide a unique investment opportunity.”
After 42 years with Judas Priest, K.K. Downing quit the band in April 2011 citing "an on-going breakdown in working relationships between myself, elements of the band and management.”
In February of this year he released a statement on Facebook saying he was “shocked and stunned” that he wasn’t invited to rejoin Judas Priest when Glenn Tipton announced his retirement from touring due to the progression of Parkinson’s Disease.
Last month K.K. announced a new rock night called K.K.’s Steel Mill at Starworks Warehouse in Wolverhampton, which will showcase the finest up-and-coming and established rock and metal bands around.
K.K. said at the time: "It's with great pleasure and excitement I can confirm another new chapter in my lifelong musical journey, however this time on the other side of the crowd barriers.
"We aim to put on regular headlining shows throughout the year, and I am thrilled to announce for starters I will host American rockers Skid Row on Friday the 24th of August when Snake, Rachel, Scotti, Rob and ZP bring their hard-hitting show to the Steel Mill.
"I'm looking forward to seeing many fans at the upcoming shows enjoy the music! I'll probably see you at the bar."