Regarding your first negative, I wouldn't worry too much would people googling him to go directly to his website. This is all assumption. We are assuming that viewers would do this. As life shows us, what we assume and what actually happens can be dramatically different. Lets go with some hard evedence on this thought. Once you have the site up, you can check your stats and see if people are increaseing or decreasing to your site. Obviously if your traffic seems to die out then you know they are going to his site in the long run.

Additionally, I would form an aggrement with him where he will release exclusive information on your website. He will agree that this exclusive information will not be published on his own website. This will add more value to your website as well. Try to get a second and even third guru on your site so people can go to your site for multiple sources of info.

Regarding the second negative, it goes back to what I said previously. Get him into an agreement where he will put exclusive content ONLY for your site. This will be good.

Not really sure on the compensation you will provide to him, but you may want to simply offer him more commission for the exclusive deal....

Let us know how this turns out

Thanks Jason - you make some great points. We were talking about a revenue split 50/50. My site currently receives about 5,000 visits a day - mainly for the financial news we publish.