Who Owned the Graceland Mansion First? If Sillerman creates a bigger licensing market for Elvis, she will profit nicely. From 1956 until 1957, Elvis and his family lived at 1034 Audubon Drive in Memphis. [3] Due to an ill-advised agreement between Parker and Elvis which gave RCA sole ownership of all his recording royalties prior to 1973, the estate was relying heavily on the income from Factors Etc. [CDATA[ (adsbygoogle = window.adsbygoogle || []).push({}); // ]]> When Soden took over Graceland and began the formation of Elvis Presley Enterprises, Graceland itself had haemorrhaged money. Vernon's Smokehouse, Elvis Presley's Memphis. Admission was $5.00 a head and thousands of fans (and fanatics) lined up every morning for the new tour. Inc, to control Presley merchandise and keep a steady income supporting his estate. EPE has just negotiated a sweetheart deal for Lisa Marie Presley. [3], During the court case Priscilla was advised to sell Graceland to avoid bankruptcy. She merely extends the licensing capabilities from EPE to Sillerman’s company for worldwide promotion and exploitation. It is a good thing for Lisa Marie Presley that neither got their wish. Complimentary birthday cake and coffee served at Vernon’s Smokehouse, located across the street from the mansion at Elvis Presley’s Memphis, imm… Lisa Marie retained sole ownership of the mansion itself, as well as her father's personal effects. EPE has used its war chest and lawyers to pursue the rights of Elvis’ image to the ends of the earth, sometimes at a major negative publicity cost. If not, she will have received almost 8.5 times EPE’s net profit per year for those rights. However, after Elvis' death, it became filled with Elvis souvenir shops, which carried mostly bootleg items not licensed by the Presley Estate. She keeps her father’s personal effects and Graceland , which is a great PR move to appease the zealot Elvis fans as well as a physical and emotional tie to her father. It wasn't long, however, before it became apparent that the Presleys needed more privacy and security than the Audubon Drive home could provide. EPE, for instance, "absolutely refuses to license a product picturing an overweight Elvis." Graceland Portable Buildings COVID-19 UPDATE: COVID-19 is impacting building delivery times in some regions. Graceland could handle three thousand per day, and in the first year Elvis Presley Enterprises took in $1.35 million. [5] She decided against this because she had no plans to sell off her daughter's first home. Lisa Marie Presley did not sell Graceland Mansion and its original grounds, or her father’s personal effects – meaning costumes, wardrobe, awards, furniture, cars, etc. EPE's business extends far beyond the Graceland operation, however, and includes worldwide licensing of Elvis-related products and ventures, the development of Elvis-related music, film, video, television and stage productions, the ongoing … GRACELAND! The Presley family retains ownership of Graceland and its original items. Elvis’ chronicler Bill Burk wrote in June, 1982: “When Graceland swings its doors open Monday, it will be like the founding of a new industry in Memphis”  And right he was! What did Presley have to give up for this treasure trove of receivables? Rock ‘n’ roll legend Elvis Presley’s famous mansion “Graceland” in Memphis, Tennessee has been vandalized by BLM supporters. In 1979 Memphis Mayor Wyeth Chandler wanted the city of Memphis to buy Graceland his asking price for the 13 acres real estate was rumored to be US$11 million dollars. Presley’s new benefactor is media mogul Robert Sillerman, who made a massive fortune selling his concert company SFX to Clear Channel for over $4 billion in 2000. Free. [3] He was also ordered to hand over any Elvis audio recordings or visual images that he owned. Check with your dealer ( www.GracelandDealers.com ) regarding delivery times in … The buyer was none other than millionaire pop-singer Justin Bieber, who closed the deal on Monday. [1] After Vernon's death in 1979, Elvis' ex-wife Priscilla Presley, as Lisa Marie's legal guardian, began co-managing the trust along with the National Bank of Commerce in Memphis, which was the bank Elvis and Vernon had done business with, and Joseph Hanks, who had been Elvis and Vernon's accountant for a number of years,[1] and formed EPE in 1979. The rapid expansion of Graceland, Elvis Presley's Memphis home, could continue with the construction of a new events center on the campus in early 2019… In 1993, Graceland purchased the property. [7] Lisa Marie Presley retains a 15% ownership in the company and continues to be involved, as does her mother Priscilla Presley. In 2005, an 85% stake in Elvis Presley Enterprises was sold to media company CKX for … [3][4] His preliminary finding was that Parker's management deal of 50% was extortionate compared to the industry average of 15-20%. [3] He also noted that Parker's handling of Elvis's business affairs during his lifetime, including the decision to sell off past royalties to RCA for $5.4 million in 1973, were "unethical" and poorly handled. Sillerman and his new media and entertainment company CKX acquired an 85% interest in Elvis Presley Enterprises, including its physical and intellectual properties. Graceland is the most visited private residence in the United States and the world. Elvis Presley’s home of Graceland may be open to the public but there are areas there that are off-limits.This includes his private area upstairs, but what about rumours that he had a secret underground tunnel at the Memphis mansion? [1] In 1993, Graceland purchased the property and all the shops and attractions in what is now known as Graceland Plaza are owned and operated by EPE. Graceland Holdings LLC, led by managing partner Joel Weinshanker, is the majority owner of EPE. In November 2013, the company sold its 85% interest in EPE to Authentic Brands Group. [3] Following many court cases against business and private parties, EPE helped to push through new copyright and trademark legislation in the United States. Later, EPE was wholly owned by the "Elvis Presley Trust" and Elvis' daughter, Lisa Marie Presley until February 2005, when Robert F.X. I t sits on a busy boulevard eight miles from Memphis, Tennessee: a peculiar mansion bought by an excitable 22-year-old singer in … [5] The case against Parker was settled out of court in 1983, with the estate paying him $2 million,[5] and the termination of his involvement in any Elvis related earnings for five years. Since 1979 "EPE has filed more than a hundred lawsuits to assert the estate's exclusive right to Elvis's name and likeness. Inc.[3] However, because Parker was still entitled to 50% of all Elvis' income, and after taxes were taken off, the overall amount going towards the upkeep of the estate was less than $1 million a year. [3], In 1991, Graceland was placed on the National Register of Historic Places,[1] and in 1999 EPE purchased and redeveloped what became The Elvis Presley Heartbreak Hotel.[3]. There was money to be made ... so a company was founded to create this icon, and it has controlled his image ... " The author describes EPE as a "well-run marketing machine" that runs on tight regulation of Elvis's images and lawsuits, when necessary. Graceland's $137 million investment in Whitehaven keeps on giving; economic impact pegged at more than $1.1 billion ... who owns Piano’s Flowers and Gifts with his … Lisa Marie Presley retains a 15% ownership in the company. Last modified on Thu 11 Apr 2019 04.59 EDT. [1] The beneficiaries of the trust were Vernon, Elvis' grandmother Minnie Mae Presley, and his nine-year-old daughter Lisa Marie Presley. Who Discovered Elvis Presley? Marion Keiske, Elvis Birthday – Elvis Born January 8, 1935, Elvis Grammy Awards Elvis Music Elvis AlbumsElvis Won 3 Grammy Awards. In 1983, they acquired the shopping center plaza across the street from Graceland. Graceland is located at 3764 Elvis Presley Boulevard in the vast Whitehaven community, about 9 miles (14 km) from Downtown and less than 4 miles (6.4 km) north of the Mississippi border. Graceland opened for tours on June 7, 1982. [1] EPE's business extends far beyond the Graceland operation, however, and includes worldwide licensing of Elvis-related products and ventures, the development of Elvis-related music, film, video, television and stage productions, the ongoing development of EPE's Internet presence, the management of significant music publishing assets and more. [4] However, Judge Joseph Evans, aware that Lisa Marie Presley was still a minor, appointed attorney Blanchard E. Tual to investigate Parker's management. [1], After Elvis Presley's death on August 16, 1977 at Graceland, his will appointed his father, Vernon Presley, as executor and trustee. Lisa Marie now owns Graceland, which has long been converted into a museum devoted to the legendary singer and his memorabilia. She blames a … The next task Soden had was to corral all of the unlicensed Elvis products on the market and create a new paradigm for the intellectual property (trademark and copyrights) of a celebrity’s image. Although all employees of EPE are listed as remaining, were he to retire after this deal, Soden could smile, knowing that he had mastered the art of the Colonel Parker deal, getting far more than ever imaginable from the use of Elvis. Eager to find a rural refuge away from wild fans and the pressure of fame, 22-year-old Elvis Presley purchased his Graceland estate on March 19, 1959 for … Free. Their litigiousness has made hucksters reconsider illegally using the King’s image and has increased the negotiation value of the estate with any legitimate licensees. She will continue to license the use of ” Graceland and these effects through EPE to Sillerman’s company. The land where Graceland visitor parking and the airplanes exhibit are located was already owned by EPE. - See 19,069 traveler reviews, 12,173 candid photos, and great deals for Memphis, TN, at Tripadvisor. [1], Interest in Graceland was such that EPE decided to expand its operation. Elvis’ reputation had taken a beating during the Dr. George Nichopoulous trial as well as from the tawdry details of Albert Goldman’s book Elvis. [1], Following Elvis' death, his manager "Colonel Tom" Parker had set up a licensing operation with Factors Etc. She maintains 100% permanent, sole ownership of all of this. “I think disgraceful is the word to top everything,” said Quincy resident Jo Ann Seybold. Elvis Presley Grave – Who is Buried at Graceland? Elvis Gold Piano Elvis Piano at Graceland. A post shared by Asya Danielle Branch (@asyadanielle) on May 31, 2019 at 6:59pm PDT Trump sold The Miss Universe Organization , which owns Miss USA, back in 2015. [3], On August 14, 1981 Judge Evans ordered EPE to sue Parker for mismanagement. Who Owns Graceland? Learn how and when to remove this template message, https://en.wikipedia.org/w/index.php?title=Elvis_Presley_Enterprises&oldid=979865666, Entertainment companies of the United States, Articles needing additional references from January 2013, All articles needing additional references, Creative Commons Attribution-ShareAlike License, This page was last edited on 23 September 2020, at 06:56. In 1979 Memphis Mayor Wyeth Chandler wanted the city of Memphis to buy Graceland his asking price for the 13 acres real estate was rumored to be US$11 million dollars. Presley will receive $53 million in cash; $25 million in debt assumption; and $22 million in preferred stock of Sillerman’s new company as well as 500,000 shares in common stock of Sillerman’s new company. Today, all shops and attractions in what is now known as Graceland Plaza are owned and operated by EPE. THE SALE OF GRACELAND The Memphis, Tennessee, home owned by Elvis’ former wife Priscilla Presley and their daughter Lisa Marie Presley, is the second most visited private home in the United States, after the White House, with more than 600,000 visitors a year. North lawn, Graceland. The most “priceless” real estate in the world. Well Elvis’ cousin Billy Smith – who lived at Graceland – has spoken out in an interview. Elvis’ world did not look so good. Fans who are unable to attend can watch the ceremony live via Elvis Presley's Graceland Livestream. Elvis’ home, Graceland, was costing about a half-million dollars a year in taxes and maintenance and Priscilla was under pressure to sell the property to reduce it’s drag on cash flow. [5] In late 1981, the estate hired Jack Soden, at the time a Missouri investment counselor, to plan and execute the opening of Graceland to the public and oversee the total operation. Elvis Presley Enterprises, Inc. is a corporate entity created by "The Elvis Presley Trust" to conduct business and manage its assets, including Graceland. On his corporate jet, Mason flew with him to Memphis to tour Graceland, the 13 acre estate where Elvis lived with Priscilla and Lisa Marie. The 500 acre farmland in Memphis, Tennessee upon which Graceland was later built was owned by the S.E. Celebration 2019, the annual commemoration of the anniversary of his death, gets underway for four days starting April 25, featuring live music and … According to Sean O'Neal, "Elvis is a cultural icon today, but he didn't become that way simply because of his talent and good looks. Now it’s the subject of an investigation by the state’s Cemetery Oversight Board. WHO OWNS GRACELAND? The IRS wanted a big chunk of change from the estate, too. [1], By the mid-1980s EPE was interested in securing the rights to Elvis' image and intellectual property. 10:00 AM. Lisa Marie Presley retains 100% sole personal ownership of Graceland Mansion itself and its over 13-acre original grounds and her father's personal effects - meaning costumes, wardrobe, awards, furniture, cars, etc.. Lisa Marie Presley at a car race. The company endeavors to turn Elvis Presley's former estate into an international tourist destination. She will still own 15% of Elvis Presley Enterprises, which Sillerman is buying. After 29 years of being held from view, fan curiousity has been brought to a full boil. Soden and company did not just re-write the book on the celebrity image business; they created the rules of the industry. On Monday night, “protesters” who support the Marxist organization Black Lives Matter spray-painted slogans such as “Defund the police,” “Abolish ICE,” “F*ck 12,” “F*ck Trump,” and more on the wall and sidewalks surrounding the estate. Since March, the Memphis City Council has postponed a measure that could make additional incentives for Graceland possible. The Memphis City Council is voting next week on incentives for a Graceland expansion planned by Elvis Presley … Seldom has Soden’s team lost, and when they have, it has been over inconsequential financial circumstances. Instead she chose another route, one that would go on to provide a boon for Lisa Marie and fans of Elvis alike. Twenty-two years later, Elvis’ image is restored. Upstairs at Graceland is a puzzle and a temptation, a fascinating locked-room mystery that draws in the imagination of millions. Sycamore Valley Ranch, formerly Neverland Ranch or Neverland, is a developed property in Santa Barbara County, California, located at 5225 Figueroa Mountain Road, Los Olivos, California, on the edge of Los Padres National Forest.It is best known for being the home and private amusement park of American entertainer Michael Jackson from 1988 until 2005. [2] With Minnie Mae's passing in 1980, Lisa Marie became the only surviving beneficiary named in Elvis's will. Elvis Presley Enterprises, Inc. (EPE) is a corporate entity created by "The Elvis Presley Trust" to conduct business and manage its assets, including Graceland. [3] Priscilla and the Trust weren't prepared to let Parker continue to handle Elvis's business affairs, and petitioned the court to that end. August 9, 2019 10:31 pm Kaylee Pfeiferling News, Top Stories. Minneapolis – Elvis has left the building.Paisley Park, that is. Graceland, the cherished white-columned Mansion in Memphis, Tennessee purchased by Elvis Presley in March of 1957 for $102,500 has, shockingly, been sold according to Presley’s daughter, Lisa Marie Presley, for an undisclosed amount of money. [1] The plaza was built in the sixties, and had been a typical suburban strip shopping center. Colonel Parker’s “accounting” for Vernon Presley had bled the estate dry. Graceland moving to Nashville? The desire to know has reached a breaking point. The 14-acre property is said to be worth around 55 million dollars. In effect she is giving the rights to Elvis’ image, those that EPE has accrued and has been licensing worldwide, to Sillerman’s new company for a huge chunk of change plus approximately 15% of Sillerman’s new company. Residents say the look of Graceland Cemetery in Quincy has been going down hill for years. (Elvis had purchased it … [5] In response to this, Parker countersued. "[6] Sale of Graceland? Two Graceland University theatre students were recognized for their theatre and musical theatre talents earlier this month. Jack Soden’s business partner, who handled Lisa Marie Presley’s estate for Priscilla Presley, wanted to sell Graceland in 1981. //