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. Last Updated: 07/27/2016

WORLD BEAT: Brown's Got a New Bag ... o' Money




NEW YORK -- The "Godfather of Soul" James Brown feels good f and he knew that he would f a year after completing the sale of a $30 million bond backed by the future royalties from his many hit soul records.


The deal gave him a $30 million dollar loan for up to 20 years, some of which he has used to set up a foundation for the underprivileged and to develop singing talent.


"Ow! I feel good f Papa's got a brand new bag," Brown howled in his trademark catch phrase, when asked in an interview with Reuters Television how he felt on this one-year anniversary of his bond transaction.


"There are a lot of people that need a lot of help and we want to help them f I have everything that I need," Brown said.


"I set up a foundation to help underprivileged people, a lot of churches, and we've sent a lot of people to school," he said. Brown said some of the money was going toward reviving some aging blues legends.


"We're going to bring back a lot of the older artists, that were forgotten, like B.B. King, Bobbie Bland f people like that who have a great track record," he said.