TORONTO – The three members of the Canadian band Tea Party have been told they're sitting on a gold mine, and that a painless transaction could potentially make them millions of dollars.
They own the web address teaparty.com, which wasn't in demand when they registered it in 1995 but has now spiked in value — at least theoretically — given the popularity of the Tea Party political movement in the United States.
Experts say it could be worth a fortune to the right buyer, although so far it's just talk. No one has come forth with a cheque adorned with a long string of zeros.
But the recently reunited band, which is getting ready to tour again after a six-year hiatus, says it's listening to all offers, including any real bids from the right-wing political movement that shares the group's name.
Even though the band's members do loathe their politics.
"I think that's being an honest, not hypocritical person, because I could do maybe the politically correct thing and say, 'Oh, we'd never sell it to them,' but we are human," said bass player Stuart Chatwood in a lengthy interview on Friday, his first since the band's most valuable asset was featured on Bloomberg Businessweek's website on Sept. 15.
That story quickly circled the globe and the band members' phones haven't stopped ringing since.