Lisa Marie Presley is selling her iconic father's estate. The King of Rock and Roll's only child has agreed a $100-million deal that will see 85 per cent of the legacy pass into the hands of businessman Robert FX Sillerman.
The music impresario will own Elvis' name and likeness along with revenue from his music and films. Lisa Marie will meanwhile retain possession of his home, along with many of his personal belongings, though the running of Graceland will also be handled by Sillerman.
"My greatest responsibility to my father is to preserve and protect his legacy," explained the 35-year-old. "This is an exciting new structure that opens up an incredible array of opportunities." Under the agreement she will also receive $20-million worth of shares in a new company being formed to manage the estate, while her mother Priscilla Presley will stay on as an executive consultant.
Twenty-seven years after his death, Elvis is still a major player in the showbiz industry, generating $45 million in revenue last year. Over the course of his career he sold over a billion records and starred in 31 movies.
Photo: © Alphapress.com
Photo: © Alphapress.com
