Don wrote:...As soon as he mentioned getting a slice of the concert receipts for X amount of years, the band should have offered a clean break with 20 million dollars for him to go away. Perry would still continue to collect song writing royalties but would forfeit rights to licensing income and having any say in how Journey used the catalog moving forward.
Other acts have done this, or had members who signed away their rights freely because they wanted a lump sum of cash for whatever reason (See Steve Tyler).
I think, based on past actions by Perry and what he was asking for as part of the divorce, this could have been a successful action.
All that said, once Family Guy and the stint with the Chi-Sox happened, half a decade later, the value of the back catalog quadrupled and so ended any hopes of removing band member #6 from being a major player and benefactor in future usage of the Journey brand.
I could be wrong and the band may have tried going that route but seeing how things have turned out, perhaps they should have tried harder.
Multiple edits are due to my sucky grammar.
I've often wondered about this. I mean, who on earth was representing the band, a chimpanzee? We know Perry was already lawyered-up, but it sounds almost like the band walked in without any representation, took whatever deal was on the table, signed the papers, and left the room. Maybe Perry wasn't interested in a lump sum. Maybe he wanted to walk away from the band, but not away from the songs he helped create. Whatever the case, the bands' representation could have/should have negotiated a clean(er) break. The parties could have found a number that would have worked for everyone, then borrowed against future earnings for the pay-out. Of, course at the time, they had no idea their future earnings would go super nova. Looking, back I'll bet they wish they had...
