Beatles audition tape

LONDON: The Beatles' audition tape, that was infamously rejected by a record company boss, has been discovered after 50 years and is being sold at an auction.

In what came to be known as one of the worst decisions in music history, Decca producer Dick Rowe turned the group down, believing "guitar groups are on the way out" . John Lennon , Paul McCartney, George Harrison and original drummer Pete Best ended up signing with EMI. Ringo Starr later replaced Best.

The group were also told by Rowe that 'they had no future in show business' following the 1962 audition, during which they recorded a ten-track demo tape, Daily Mail said. The original tape recorded on New Year's day 1962 has come to public light for the first time.

It is thought the Beatles's manager Brian Epstein held on to the tape, he had paid to make, and later gave it to an executive associated with EMI. He sold it in 2002 to a prolific buyer of music memorabilia, who is now selling with a pre-sale estimate of £30,000.

The 10 tracks include Money (That's What I Want), Like Dreamers Do, Take Good Care Of My Baby , Three Cool Cats, Love Of The Loved, Memphis and Crying Waiting Hoping.