This song was released in the U.S. 50 years ago — Jan. 12, 1970 — and it kicked off the tragic career of the recently renamed Welsh band The Iveys, now known as Badfinger, a name suggested by John Lennon when they were signed to Apple Records. Paul McCartney wrote it for the film “The Magic Christian,” starring Peter Sellers and Ringo Starr, and recorded the demo one morning before the sessions for “Abbey Road,” playing all the instruments himself. He also produced the Badfinger recording, choosing bassist Tom Evans for the lead vocal and telling the band, “Okay, it’s got to be exactly like this demo.” The song reached the Top 10 in both the U.S. and the U.K.
https://www.youtube.com/watch?v=jtXB2k6A9pI
You can judge for yourself how close they came. The demo was released on the third Beatles Anthology.
