Masked Iowan metal phenomenon Slipknot have followed through in selling a stake in their catalog royalties. The previously rumored deal was said to be around the $120 million dollar range. The Hollywood Reporter have now confirmed that the band have finalized the sale of their stake to HarbourView Equity Partners. The exact financial details regarding the agreement were not disclosed by either party involved.
Also not revealed was the percentage of the stake involved, though it was stated that the deal extends to both publishing and recorded royalties. In a statement on the matter, the band’s percussionist and artistic director M. Shawn “Clown” Crahan stated:
“After 25 years of taking on the music business, we find ourselves with a partner that is willing to sign onto continuing what Slipknot started. Only they want to go even bigger. Get ready. Hail The Knot.”
Sherrese Clarke, founder and CEO of HarbourView Equity Partners added:
“Slipknot’s music has redefined heavy metal and created a global cultural phenomenon. Their catalog is a testament to their influence, passion, and enduring artistry within the genre. We pride ourselves on having our finger on the pulse of culture and with thorough analysis of audience engagement, we clearly see the cultural impact of Slipknot from the 1990’s to present. The enduring and relevant proof points with Slipknot remain core to our investing thesis, and HarbourView is honored to help preserve and amplify the group’s work for decades and generations to come.”