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Badfinger were a British rock band that, in their most successful lineup, consisted of Pete Ham, Mike Gibbins, Tom Evans, and Joey Molland. The band evolved from an earlier group called The Iveys that was formed in 1961 by Ham, Ron Griffiths and David "Dai" Jenkins in Swansea, Wales. The Iveys were the first group signed by the Beatles' Apple label in 1968. The band renamed themselves Badfinger and in 1969 Griffiths left and was replaced by Molland.

In April 1970, while in the US scouting prospects for a tour, Collins was introduced to New York businessman, Stan Polley, who signed Badfinger to a business management contract in November 1970. Polley established Badfinger Enterprises, Inc., with Stan Poses as vice-president. This signed the band members to various contracts dictating that receipts of touring, recording, publishing and even songwriter performance royalties would then go into holding companies controlled by Polley. This led to a salary arrangement for the band, which various members later complained was inadequate in comparison to their gross earnings. Gibbins: "My first impression was, Stan [Polley] is a powerful guy", while Molland thought that Polley seemed more of a father-figure. At the same time, Polley was also managing Al Kooper, of Blood, Sweat & Tears, and Lou Christie.  Although Polley's professional reputation was admired, his dubious financial practices eventually contributed to the band's downfall. A financial statement prepared by Polley's accountants, Sigmund Balaban & Co., for the period from 8 December 1970 to 31 October 1971, showed Polley's income from the band: "Salaries and advances to client, $8,339 (Joey Molland), $6,861 (Mike Gibbins), $6,211 (Tom Evans), $5,959 (Pete Ham). Net corporation profit, $24,569. Management commission, $75,744 (Stan Polley)". Although it is not known if the band members saw the statement, Collins certainly had, as his handwriting was on the document.  Badfinger toured the US for three months in late 1970, and were generally well received, although the band were already weary of persistent comparisons to the Beatles. "The thing that impressed me so much was how similar their voices were to The Beatles", Tony Visconti (producer, "Maybe Tomorrow") said; "I sometimes had to look over the control board down into the studio to make sure John and Paul weren't singing lead vocals ..." Rolling Stone critic Mike Saunders opined in a rave review of No Dice in 1970: "It's as if John, Paul, George, and Ringo had been reincarnated as Joey, Pete, Tom, and Mike of Badfinger". Media comparisons between them and the Beatles would continue throughout Badfinger's career.
Badfinger