June 2024 Autographs, Collectibles & Memorabilia Auction - Ends Saturday, June 15th
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This lot is closed for bidding. Bidding ended on 6/16/2024

The only known fully signed contractual agreement by all four members of The Who!


Here is a spectacular original 1970 two-page contractual addendum drafted by The Who’s management team, Kit Lambert, and Chris Stamp, and directed towards the management of Polydor Records, London offices, regarding the subject of royalty fees for The Who’s record sales. Page two of the oversized document is signed by all four members of The Who:  Pete Townshend, Keith Moon, and John Entwistle have all signed in black ballpoint, with Roget Daltrey signing in blue ballpoint. The signatures of Daltrey, Moon, and Entwistle are unusually large examples. Executed on 7 January 1970, the addendum references The Who’s original contract with Polydor Records dated 25 November 1966. Shortly after this initial agreement with Polydor was finalised, Lambert and Stamp formed a record label, Track Records, with all distribution managed by Polydor. As well as signing Jimi Hendrix to the label, Track became the imprint for all the Who's UK output until the mid-1970s. Throughout this same period Polydor also served as the Who’s primary label throughout the world, excluding North America. As such, Polydor Record’s had extensive involvement in the worldwide distribution of The Who’s music catalogue. The contractual addendum serves to assign London-based Orbit Music Company Limited as The Who’s newly authorized agent to receive of all past, present, and future royalties, defined as 2.5% of 90% of all retail sales (minus applicable taxes). This is not a minor document as it pertains to The Who’s main source of income derived from highly prized royalties resulting from their vastly successful recorded works.


To date, this is the only fully signed contractual agreement, of any kind, that we have encountered with direct association to The Who, boasting original signatures by all four bandmembers. As such, this is an exceedingly rare and desirable document, enhanced only by the fact that it was executed during a creative high point, as the band had just released their breakthrough rock opera Tommy the year before, followed three months later by their historic performance at Woodstock, and just weeks prior to the recording of their critically acclaimed Live at Leeds album which would be released four months after this agreement was signed. The following year, The Who would release their critically acclaimed and most commercially successful effort to date, Who’s Next. An absolutely extraordinary museum quality Who signed document for the most discerning of collectors. The document measures 21.5cm x 33 cm (8.5 inches x 13 inches) and exhibits mild handling.

Included with this extraordinary document is an original TYPE I vintage 8" x 10" black and white photograph of the entire band from 1969. It's a stunning vintage image and features a number of stampings and production notations from publishing on the verso.

Accompanied by extensive authentication, including full Letters of Authenticity from Beckett Authentication Services (BAS), James Spence Authentication (JSA), Roger Epperson/REAL Authentication and Tracks UK.

Current Bidding
Minimum Bid: $2,000.00
Final prices include buyers premium.: $9,352.92
Number Bids:8
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