A share of the royalty rights to over 130 Judas Priest songs – including such classics as “Breaking the Law,” “Painkiller” and “Living After Midnight” – is up for sale as guitarist KK Downing’s luxury golf resort went bust.
As Billboard reports, KK is believed to have invested millions in developing Astbury Hall in Shropshire, England, with its 18 hole, 71-par golf course in the hope of one day attracting the Open Championship.
Unfortunately, the business fell into administration and the 320-acre estate was put up for immediate sale with an asking price of around £10 million ($13.5 million).
The next part of the bankruptcy process involved the sale of KK’s share of the royalty rights to 136 Judas Priest songs, which administrators FRP Advisory LLP say generates between $340,000 and $400,000 per year.
Administrator Alastair Massey called the catalog “a unique investment opportunity” from one of the “driving influences” of Judas Priest.
Massey said in a statement: “Ken Downing was a founding member of JUDAS PRIEST and was one of the driving influences of the band’s work up to his departure in 2011.
“As part of the administration process, we are selling the rights owned by Ken Downing Ltd. to 136 tracks, which provide a unique investment opportunity.”