The event was organized by The Goss-Michael Foundation, a group founded by George Michael and his longtime partner Kenny Goss.
However, on Friday, organizers announced that the show switched venutes shortly before canceling the event all together.
Organizer, River Alexander Group, "was unable to fund and produce the evening. Up the very last minute, they assured us the 'show would go on,'" according to Joyce Goss, executive director of the foundation.
Sources say the real problem came when organizers were unable to pay for Prince and his band to travel to the concert.
The insider adds, "Prince is extremely disappointed that the organisers were unable to bring him and his band to Dallas. They say that apparently they lost their investors and were unable to adequately fund the event."
Awww. Such a disappointment! We bet a lot of those concertgoers are upset they can't see Prince. We'd be mad too!
[Image via WENN.]