12/19/00 Sanctuary Records Signs Widespread Panic

I stubbled across this news article from a Canadian magazine.
When I read it I laughed out loud. It seems to me that the CEO of Sanctuary was being very optimistic.
Either that or he was feeding Panic a big serving of great expectations to get them to sign on the dotted line.

Sanctuary Records, who only announced a few weeks ago that they signed metal act Megadeth, have added yet another band to their roster. Jam rock band Widespread Panic has inked a multi-album deal with the label, and will release a follow-up to their indie album, Another Joyous Occasion sometime in January.

The group has been bumming around label land since 1988 when Landslide Records released their debut, Space Wrangler. This resulted in them signing with Capricorn Records in 1991. They released six albums on that label, which sold an estimated total of 1.5 million records, or 250,000 copies each.

The label was interested in Widespread Panic not only for their ability to sell albums, but also because the band has unique relationship with their fans. "Widespread Panic have developed a deep relationship of trust with their audience, which is why they are among the top 50 grossing touring artists in the U.S. We are confident that we can make them one of the country's top 50 album selling artists as well," remarked CEO of Sanctuary Music Group Merck Mercuriadis in a press release.