Cuomo set to receive $ 5.1 million from pandemic pound deal


Mr. Cuomo recorded $ 118,000 in expenses related to his work on the book, according to a letter from a partner of PricewaterhouseCoopers, the accounting firm, which reviewed the finances of his book contract. The expenses included “legal and publishing fees,” according to the letter, published by Mr. Cuomo’s assistants.

Crown’s announcement that he would not be releasing the paperback edition raised questions about whether the publisher, a division of Penguin Random House, would pay the governor’s advance in full.

This question could not be answered by the release of the tax returns, which only included the payments Mr. Cuomo received in 2020.

“In accordance with a long-standing policy, PRH does not comment on contractual or financial agreements with third parties, including authors,” said David Drake, president of Crown, referring to Penguin Random House.

Even before Mr. Cuomo was embroiled in multiple scandals, his book was a commercial disappointment, especially for a title that had garnered such an astronomical lead. Publishers argued over the book at an auction, which pushed the price up, according to publishing industry executives who spoke on condition of anonymity because they were not authorized to discuss private negotiations.

Sales of “American Crisis” have been anemic, with only about 50,000 hardcover copies sold, according to NPD BookScan – not enough for Crown to recoup its investment.

“There is no doubt that they lost their shirts and that Cuomo was the beneficiary of what can only be called a bad business decision,” said Mike Shatzkin, founder and CEO of Idea Logical, a firm publishing consulting.

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