Late last year Paul McGuinness retired as manager of U2… or did he?
In November 2013, the gnomic and greedy Paul McGuinness claimed “It could be seen as slightly poor etiquette for a manager to consider retiring before his artist has split, quit or died, but U2 have never subscribed to the rock ‘n’ roll code of conduct.”
“As I approach the musically relevant age of 64, I have resolved to take a less hands-on role as the band embarks on the next cycle of their extraordinary career.
“I have long regarded Guy Oseary as the best manager of his generation, and there is no one else I would have considered to take over the day-to-day running of our business.”
OK, first Madonna’s manager Guy is the guy who approved her huge missteps throughout 2013, up to but not limited to her ridiculous feud with Lady Gaga and her insipid, ignorant, ill mannered and misjudged decision to go on stage at 11pm at night for shows whose doors were open at 7pm; thereby allowing many of her younger fans to miss the shows they’d paid for in their entirety.
If you can get past that piece of insolence, you’ll find Paul fessing up to the entire retirement being a pack of lies. McGuiness (undoubtedly with Bono’s blessing and signature) has sold his management company to Live Nation.
According to the Irish Times: “His decision comes as Live Nation Entertainment, the concert company that includes Ticketmaster, is in advanced negotiations to buy the management companies behind U2 and Madonna.
“Under the deal, Live Nation would pay more than $30 million for both Principle Management, Mr McGuinness’s company, as well as Maverick, run by Guy Oseary, Madonna’s manager.
Mr Oseary would then take over day-to-day management of U2.
‘McGuinness (62) who has managed U2 almost since its inception – and in doing so became one of the most highly-rated executives in the music business – would become Principle’s chairman, a role that is not fully clear.
“I am delighted that Live Nation, who with Arthur Fogel have been our long term touring partners, have joined us in creating this powerful new force in artist management,” Mr McGuinness said.”
So, in reality to money grubbing luddite McGuinness is retiring from managing U2 to manage a company that manages U2 and Madonna. That warm fuzzy feeling is nausea at this bizarre two step by the too smart for his own good plank. Why not just say I’ve sold U2 to Live Nation and will manage them from there? There is nothing wrong with Paul’s actions, it is the equivalent of a three team trade in baseball, but the stench comes from the press release.
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