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29-10-03 news
Geldof Nearly a £2 Million Virgin...

Irish singer, charity campaigner, and entrepreneur Bob Geldof may have a nose for business but he once turned down a £2 million deal from Richard Branson.

Back in 1975 when four members of the Boomtown Rats were on the dole, one was working, and one was in college their now legendary singer Bob Geldof was offered a £2 million contract from Virgin's Richard Branson and said NO!

Bob told Hot Press Magazine:

"After a gig at Moran's Hotel we went to a pool room off St Stephen's Green with the Virgin Mob - Richard Branson, Simon Draper, Nick Powel. That night, Branson offered us a million quid, well over £2 million today, and slipped a signed cheque to me!"

He went on, "I worked out the deal was worth £100,000 per year, but we'd have to pay the album costs, probably about £80,000 per album."

Shrewd Bob worked out the figures and turned Branson down and opted for rival label Ensign instead.

But there was no bad-blood between Geldof and Branson over the deal, "Richard is still a great friend" he said.

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