After being dropped by EMI, A&M Records became the Sex Pistols new label, their next single was to be 'God Save the Queen', John Rotten’s alternative National Anthem. To announce the A&M deal, the band staged a mock signing outside Buckingham Palace. However, after an out-of-control drunken celebration at the A&M offices and another dose of cold feet from the record company – the band soon found themselves without a record deal yet again. Only ten days after they signed to A&M, the Sex Pistols were sacked! Finding themselves £75,000 richer in the process.
The Sex Pistols with their manager Malcolm McLaren signed the new contract with A&M Records outside Buckingham Palace, London, 10th March 1977. The contract was terminated after one week. In the documentary The Filth and the Fury John Lydon claims that Steve's father was a guard and on duty behind the gates on the same day they signed their A&M Records contract.