Paisley Park, the late singer's sprawling home and studio complex in Minnesota, could be open for guided tours as part of "monetisation" plans by his estate's overseers.
The company overseeing the distribution and management of Prince’s estate are considering opening Paisley Park, the massive studio complex in Minnesota that the late singer called his home, up to the public for guided tours.
According to newly released probate court filings, disclosed in a court order issued by the judge overseeing the case in favour of Bremer Trust, the company hired to temporarily oversee Prince’s estate. Bremer had sought permission from District Judge Kevin Eide to hire “monetisation” and “entertainment” experts to convert some of Prince’s assets into cash.
The estate is believed to be worth between $150 million and $300 million, according to various experts.
Prince's Paisley Park estate could be opened up to guided tours
Those appointed by Bremer could also provide advice on how to develop Paisley Park into a business enterprise that might include opening up the massive compound in Chanhassen, Minnesota to guided tours. The 55,000 square foot location includes offices, living quarters, two recording studios and a 12,400-square-foot sound stage – the idea for its construction came during the filming for Prince’s Purple Rain movie in 1983.
Seeking the court’s permission, Bremer sought to hire the experts to “assist in the development and/or commencement of a new business [and] provide advice and counsel on how to manage public tours of the grounds.”
The effort was described as a bid to create a “new business to be managed by the Estate, rather than to preserve and manage existing businesses owned by the Deceased at the time of his death.”
Prince, who would have celebrated his 58th birthday on Tuesday this week, died on April 21st from an overdose of the powerful opioid-based painkiller fentanyl. No criminal investigations have been triggered, but an inquiry is under way as to where he obtained the medication than killed him.
Potential heirs to Prince’s estate must file a claim by this Friday (June 10th) at the latest, Judge Eide ruled earlier this week. So far, a Colorado inmate claiming to Prince’s son has demanded DNA testing, and an alleged niece and grand-niece have petitioned the court to have their legitimacy as claimants verified.