Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

How Colonel Tom Parker bought out Elvis Presley's contract when he had no money? The incredible story of how Colonel Tom Parker facilitated the buyout of Elvis Presley’s contract when he was a broke salesman with little industry experience or connections. In 1955, the mysterious Parker asked record producer and label owner Sam Phillips whether he would sell Elvis and Sam Phillips said he would “if the price was right”. He said a price of $35,000 for the contract which he thought nobody would ever pay. Parker was no Simon Cowell at the time and had no money, let alone $35,000, a small fortune in 1955. Colonel Tom Parker was a Dutch national who had jumped ship at age 18. He never left America and lived as an illegal immigrant with a shady past selling herbal remedies around carnivals in the South. He had seen Elvis sing and knew he had something special. He wanted to manage Elvis and realised that his current company, Sun Records, could only take him so far. But with no money and no industry experience how on