*Talk about investing in the future.
Beyoncé is setting the stage for three teen girls to be as successful as she is.
The New York Daily News references contracts filed in Manhattan Supreme Court, which reveal that the singer’s management company, Parkwood Entertainment, has offered 17-year-old Chloe Bailey, her 15-year—old sister Halle and Sophie Beem, a 16-year-old singer-songwriter from the Upper East Side, multiyear contracts that could result in them becoming millionaires.
The Bailey sisters live in North Hollywood, Calif., while Beem is from New York’s Upper East Side. In light of the teens being minors, judges will have to approve the terms of the contracts, the Daily News noted.
Court papers include comments from the Bailey sisters’ father, Douglas Bailey, who stated that his daughters “have been singing, dancing and acting together since they were toddlers.”
The Bailey sisters’ professional background boasts of have written hundreds of songs that have appeared in movies such as “Meet the Browns,” “Last Holiday,” and “Let It Shine.”
With their accomplishments to build on, the siblings are hoping their careers will elevate to the next level with Parkwood and help from Beyoncé who, according to court documents, “the girls worship and who will, personally, be actively involved in managing” their careers.”
Should Parkwood choose to record and distribute music from the Bailey sisters, they will receive at least $60,000 and advances that could total almost $1 million if they make at least six albums, the Daily News reports.
For Beem, she will join the Baileys in being managed by Parkwood, which was launched by Beyoncé in 2008. Details surrounding Beem include the companying signing a recording option in light of executives who don’t think Beem is “ready to begin recording music.”
“Parkwood Music believes that Sophie’s music will be best showcased with a band,” the court papers state.
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