Jackson's London Concert Promoter In Trouble!
Filed under: Michael Jackson > Business Blitz
Michael Jackson's 50-show run at London's O2 Arena was set to be the highest grossing single concert engagement to date!!
The concert promoter, AEG Live, went all out on the upcoming production and may be facing some serious financial woes, according to Billboard.
AEG sold $85 million worth of tickets along with $30 million spent on production and $10 million given to Michael in advance.
It is not known whether their nonappearance insurance will cover these unfortunate circumstances.
If Jackson died from a drug overdose or a pre-existing condition, the producer would not be reimbursed and forced to refund 750,000 already purchased tickets.
But if Michael signed a contract stating he would return his advance if he didn't perform, the promoters could end up in court with a long line of other Jackson creditors.
"We have insured the production costs. In order to get the first part of the insurance in place, [Jackson] had to have a physical, and he passed it with flying colors," said AEG Live CEO Randy Phillips
AEG Live is the second largest concert promoter in the world.
[Image via WENN.]
I just downloaded "Hollllllllllld me, like the River Jordan" off of iTunes, so good.
Wow. I heard in the news that if the concerts would have occurred, Jackson would have earned a total of 400 million dollars. I hope everything gets settled.
that hella sucks.
your story is all questions and no answers
fucking asshole, you were the one who talked the most shit about him. fat ass asshole
Go to Hell Piggy Perez the man just died yesterday and you are already talkin about refunded concert tickets. I hope some body kill's your pathetic ass the next time around except giving you a tiny ass boo boo under your eye!
But Mario, is your usual callous manner, you posted yesterday that Michael's death was just a hoax. Which is it? A hoax? Or is the poor man dead? We're waiting, Mario.
But Mario, in your usual callous manner, you posted yesterday that Michael's death was just a hoax. Which is it? A hoax? Or is the poor man dead? We're waiting, Mario.
Is it true?
His funeral will be held at "Chuck E. Cheese"?
fat piece of shit you talked the most crap about him
this is rubish! i am from london and AEG in fact was smart enough to have a insurance for the case michael jackson fails to apear live for concerts. they had a 6th sense but claim they smelt a trick
I'll bet a huge % of ticket holders will choose to keep their tickets, or sell them on eBay.
they should sell his laptop to Gary Glitter i'm sure he'd pay a small fortune for it
THE ONLY PERSON WORRIED ABOUT REFUNDING TICKETS IS YOUR FAS ASS PEREZ DO YOU REALLY THINK PEOPLE CARE ABOUT GETTING REFUNDS ON THEIR TICKETS AFTER FINDING OUT HE IS DEAD. YOUR THE ONLY ONE TO HAVE MADE THE TICKET STATMENT IN YOUR ORIGINAL BLOG MAKING FUN OF MJ'S DEATH. EVERYONE ELSE IM SURE WHO BOUGHT HIS TICKETS ARE MOURNING ABOUT HIS DEATH AND WILL GO TOT HE MEMORIAL OF HIS
YOUR A ASS HOLE YOUR A HOT MASS MESS AND YOUR FAKE. GET REAL U HAVE NO FRIENDS EVERYONE IS HAPPY YOU GOT FUCKED UP.
Re: Lady*Luck – That really sucks!
A lot of people won't want a refund. They'll hold on to the tickets as they're worth much more now than face value.
Yeah thats crazy!! No one really expected him to pass so soon. But I guess when things like this happens it really does affect a lot of people.
I don't know about any of you, but if had bought a ticket to Michaels london show, I wouldn't want my money back….What a piece of history, something to remember him by.
Who fucking cares? The people who profited by doing business with this pedophile deserve whatever bad happens to them, for they enabled Jackson to have a very active sex life with young boys.
Perez, why aren't you reporting the many stories of Jackson's pedophilia? These stories are legion around Hollywood.
It is repulsive that so many morons are celebrating this monster's life and mourning him in death. It is a perfect illustration of how sick our society is. You morons enable pedophiles like Michael Jackson, Gary Glitter,Artemis Pyle, and Roman Polanski evade justice and continue their statutory rape of children. You ought to be ashamed of yourselves. The only sad thing about Michael Jackson's death is that a parent of one of the numerous children he molested didn't blow his fucking brains out.
Ask yourself just one question: Would you be mourning Michael Jackson if he had molested your child?
EVERYWHERE I LOOK IT'S ALL ABOUT THE NEGATIVE THINGS THAT MICHAEL DID. FUCK THE MEDIA. HE'S DEAD, LET'S JUST LOOK AT ALL OF THE GREATNESS AND TALENT THAT HE SHARED WITH US. WOW. CAN'T BELIEVE THIS.
Re: Cali40 – Shut the fuck up bitch and have some respect !
LaToya could fill in.
Re: Cali40 – GET LOST YOU FUCKIN GERIATRIC TRANNY AND BUY SOME BETTER MAKEUP B/C YOU LOOK LIKE CHEAP ASS A CLOWN!
Could it be a conspiracy?
Insurance money?
Hope not.
I got my tickets and at this point i don't even care if i get a refund, I'm just so heart broken at this point.
who cares about this? he died. it means NO CONCERTS. Now let him rest in peace.
Re: DisorderlyMan – Shut the fuck up asshole. You have no facts. Take your rant elsewhere. Moron.
They're not in trouble. They'll cash in on an MJ tribute venue.
Re: The DOUCHEess – You're just as boring and hateful as a constipated monkey that trolled this site.
.
No me gusta. Ja, ja, ja.
Re: Cali40 – Go fuck yourself.
Lighten up ladies!!
Re: SWEETPIECE! – Um, you really think I give a flying fuck about YOUR opinion???
anyone who bought nonappearance insurance that didn't cover the death of the performer deserves to lose everything. the unanticipated medical illness/injury & death of a performer are the primary reasons this insurance exists.
Re: SWEETPIECE! – The insurance company will only pay out if his death was by natural causes - i.e. not drug induced which is seeming to be the case..
Re: Cali40 – |
Ahahahaha.
Where are they gonna hold yours
Jenny Craig?
No wait McDonalds
Give up your internet comedy career
Re: DisorderlyMan –
Again you say the same thing every where
Like it molested no one
Your boasting because you wished you met him so
He could touch you
You sound just like that kids father
Shut up man and have so respect
Ignorance is so unattractive
Re: icehot69 –
Damn your funny
Your as funny as Dane Cook and dat aint a compliment.