What’s really wrong with Q Prime, Ron Burkle, and Red Hot...

Hit On Wednesday he withdrew his story and said, “The fact is, we screwed it up. We apologize to Red Hot Chili Peppers, Eric [Greenspan, the band’s lawyer] and Guy O for every disturbance we’ve caused. ”

Here’s what really happened: earlier this month, a well-known promoter introduced Burkle to the Q Prime founders Cliff Burnstein and Peter human, while Burkle investigates how he is buying multiple management companies during the pandemic and bringing them together into a larger management group, similar to Live Nation-backed Maverick. They discussed a deal, but no numbers were set and no formal offer was on the table. Then the Chili Peppers told Mensch that they would take over the management internally, difficult news for the 20 year old manager of the band.

“The item [that followed] was like a double stroke, ”says a source.

In the long run, it’s not clear who the band will hire for management, if any. In the meantime, the Chili Peppers have hired Oseary in a limited capacity as a consultant, but he has said several people are not the band’s manager.

“A lot of these really big bands want to do management in-house rather than paying heavy administrative fees,” said a senior official who works with Q Prime. “Their careers don’t really need to be managed. They are a huge band. They need help figuring out their album promotion plan and TikTok strategy that they are hiring consultants for. ”

But there is also good news with Q Prime. The company recently signed Journey. The band is now led by the singer Arnel Pineda and grossed nearly $ 100 million on his 2018 tour with Def Leppard, who also manages Q Prime. But sources suggest that this led to this fiasco.

The trip had previously been managed by Irving Azoff, but switched from Hipgnosis Songs to Q Prime after an introduction by the boss Merck Mercuriadis. (Hipgnosis owns the rights to some of the band’s greatest songs, including the monster hit “Don’t Stop Believin ‘”.)

With all the deals and details, it turns out that the original story somehow didn’t quite come out right.

“In retrospect, it was a mistake not to contact (Guy Oseary or Q Prime).” Hit wrote in his retreat. “We knew they were going to deny the story and ask us not to publish it, and we believed it was true and timely. But we should have checked in and given them the opportunity to comment – or at least a heads up. ”