MINNEAPOLIS, MN – Prince’s estate officials are considering opening up the late icon’s fabled Paisley Park studios to the public.
The Purple Rain superstar often invited fans to attend late night parties and shows at the compound just outside his native Minneapolis, Minnesota, and now executives at the estate’s special administrator Bremer Trust are looking into plans to turn the venue into a tourist attraction, similar to Elvis Presley’s Graceland.
Court papers submitted as part of trustees’ request to bring in experts to help them manage the late singer’s music affairs also indicate the team of advisers will also provide “counsel on how to manage public tours of the grounds, facilities and buildings located at Paisley Park”.
Bremer Trust bosses were granted permission to bring in the big guns during a hearing on Wednesday, allowing officials to begin monetising Prince’s intellectual property and unreleased recordings, many of which have been locked away in a vault at Paisley Park.
The judge also gave the Bremer Trust executives five months to get Prince’s house in order, telling them their appointment as administrator would end no later than November 2, when his official heirs will take over.
The Bremer Trust bosses were brought in to manage Prince’s estate six days after his death on April 21 at the request of the singer-songwriter’s sister, Tyka Nelson, who informed the court her brother had died without making a will.
Prince’s intellectual property is estimated to be worth between $100 million and $300 million.
The singer’s cause of death has since been ruled an accidental overdose of painkiller Fentanyl.